Nume Ekeghe
Rand Merchant Bank Nigeria(RMBN) has launched stockbroking product that enables their high networth individual (HNI) clients to participate in the Nigerian equities market with guidance and expertise of the bank.
In a statement, RMBN Stockbrokers (RMBNS) noted that with an increase in retail/HNI activity on the Nigerian Exchange (NGX), individuals can access the market from the comfort of their homes using trading apps and VPN.
The Chief Executive Officer, RMB Nigeria Stockbrokers Mr. Layi Olaleru, said: “RMBNS has gained a reputation in offering highly-regarded services to both domestic and international investors. To date, our clients have included pension fund administrators, asset managers, insurance companies, offshore funds investing in frontier, emerging and sub-Saharan Africa markets, and sovereign funds. Our services include efficient execution of trades, post-trade services, portfolio advisory, market insights and research.”
He noted that the Nigerian equities market is unique, and therefore requires a bespoke approach.
He added: “The Nigerian equity market is quite different from other frontier markets particularly in the African continent due to its advanced trading platforms and products, and market capitalization. In addition, the relatively low equity market capitalization to GDP (about 10 per cent) indicates significant headroom for growth and development. The market could easily develop into the leading frontier market with additional trade liberalisation efforts such as African Continental Free Trade Area (AfCFTA) and more alternate investment instruments such as derivatives and commodities.”
The HNI brokerage product offers top trade execution for HNI clients with utmost discretion, with access to block flows, while leveraging an extensive clientele base of global and domestic institutional investors.
Furthermore, Olaleru added: “The global economy is projected to grow by 5.5 per cent in 2021 on the back of the successful rollout of COVID-19 vaccines, additional fiscal stimulus support coming from economies like the US and Japan, continued observation of social distancing, reopening of businesses and increased consumer demand.”
