Exness has been granted an operating license by the Capital Markets Authority of Kenya (CMA). The license marks an important step for Exness to develop an even more powerful presence in Africa.
Exness has won an African license from the Kenya Capital Market Authority (CMA). With this latest license, this multi-asset broker can now operate as a non-dealing online broker in the country. In addition to the CMA license, Exness has also received a regulatory license from the Financial Sector Conduct Authority of South Africa (FSCA) as part of its strategic expansion plans in sub-Sarahan Africa.
Paul Margarites, Exness Regional Commercial Director for Sub-Saharan Africa confirmed that the CMA license was an important step for Exness to grow its presence in Africa. Previously, thanks to the FSCA license, Exness successfully built a reputation in 2021. The company hopes to provide products and services to more merchants across Africa through those new licenses.
The CMA license only oversees a handful of brokers operating in Kenya. Apart from Exness, other big brokers including EGM Securities, which is an operation of the Equiti Group based in Kenya and traded locally as FXPesa SCFM Limited under the names Scope Markets, Pepperstone Markets Kenya Limited, and Exinity.
Not only in Africa, but Exness is also aggressively expanding its global presence in several countries. In addition to the two African licenses, Exness Group is also regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA).