ApexAfrica Capital Limited and AIB Capital Limited have this evening announce the signing of a binding agreement that will see the shareholders of the two Companies enter into an agreement to merge their respective Stock brokerage, Bond Trading, Research, Derivatives and Corporate Finance businesses in Kenya to operate under a joint venture.
“We are delighted at the prospect of joining forces with AIB as a 2nd step of our development and enhancement of our local presence in Kenya. Both entities will continue to operate independently until the regulators approve the merger” explains Louis Lallia, Executive Director of ApexAfrica Capital Limited, which forms part of AXYS Group, the Mauritian Financial Services Group that acquired ApexAfrica in 2015.
The combined entity will continue its operation and engagement with all their business partners. The service delivery to the respective companies’ clients will continue as usual.
“We as ApexAfrica are excited by this opportunity which will create enhanced capacity through capital consolidation allowing it to create wider service solutions for clients, who will also benefit from strong relationship management and customer service excellence. Obviously, the joint venture will be part of AXYS Group.” says Mahmood Hussein, GM of ApexAfrica Capital Limited.
Both Boards firmly believe that the merged entity will be strongly placed to play a bigger and more significant role in the Kenyan Financial Services sector, the region and beyond.