Published: 30 June 2013

ASSET management and securities trading company Imara SP Reid Stockbrokers on Tuesday launched an investment platform enabling its retail clients to make investments in any stock market in Africa without the need for multiple brokers in various jurisdictions.

The platform would allow investors to chase stocks driven by the high economic growth in certain regions of Africa.

"We realised that retail clients wanted access to investments in Africa but not via funds because they can be expensive," Africa Securities head Simon Reid said.

Mr Reid said traditionally retail investors needed to open an account with a broker in the country they wanted to invest in. This created a situation where clients had to deal with the added burden of administrative and exchange control issues.

"With us you don’t have to deal with multiple brokers," Mr Reid said.

Mr Reid said investors were always looking for superior returns on the continent. He said the stock market in Nigeria, Kenya and Zimbabwe was up about 30% from year-to-date.

"There is pressure from clients to have exposure to the continent because they want to benefit from the demographics," he said.

Sub-Saharan Africa has an estimated population of close to 900-million people.

Its economy is estimated to grow about 4.9% in 2013, according to the World Bank.
- BDlive

You might also want to read this

• No investors for Amaveni long-distance bus terminus
• Zimbabwe courts Egyptian investors
• Investors want proof
• Foreign investors in renewed confidence
• Investors wait for elections
• Zim delegation dazzles investors on Wall Street
• Zimbabwe reaches out to foreign investors
• 2018 Monetary Policy Review
• Investors court Zimbabwe
• Zimbabwe budget woos foreign investors