• Sunday, May 19, 2024
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Gulf’s Arqaam Capital Set To Begin Nigeria, South Africa, Kenya Operations

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Arqaam Capital, the Dubai-based investment bank, is set to enter the South African market in the last quarter of this year, it emerged late on Wednesday.

This is part of the firm’s strategy to set up shop in sub-Saharan Africa targeting mainly the African countries of South Africa, Kenya and Nigeria.

This move is informed by the economic growth prospects in those markets, the stock market developments and the existence of underrated shares in those markets.

Reuters reported that the expansion into Kenya and Nigeria would also take place in the last quarter of this year.

The wire service also reported that the investment bank might explore acquisitions in Saudi Arabia in an effort to move into fast-growing emerging markets.

Many venture capitalists have currently gotten smitten with opportunities in emerging markets in Africa and Asia.

These capitalists are laden with dollars generated from oil revenues but have been confronted by restricted economic growth options in their respective countries.

Riad Meliti told Reuters in an interview that the company could grow through acquisitions and other available strategies in these markets but all hinged on the right prospects.

Arqaam capital describes itself as an emerging market investment bank with a focus on the flow of investment funds into these markets.