RMB to launch stockbroking firm in Nigeria

Rand Merchant Bank Stockbrokers is gearing up to launch in Nigeria, marking a significant move to tap into the growth potential of the equities market in the region. Abiola Adekoya, CEO of RMB Nigeria Stockbrokers, shed light on the upcoming launch and the strategic positioning of the company in the Nigerian market. Established in Nigeria for over a decade, RMB Nigeria Stockbrokers obtained its license in 2016 for Stockbroking activities, officially commencing operations in 2017. However, as Adekoya discussed in a recent interview, the firm is now primed to make significant strides in 2018 and beyond. RMB Nigeria Stockbrokers, a member of the FirstRand group, recognized the need for a complementary business venture to enhance its services in Nigeria, leading to the establishment of the Stockbroking division. The company operates as a distribution platform for the bank, offering brokerage services to both local and international investors seeking access to the Nigerian markets. Adekoya emphasized the pivotal role played by the Nigerian equities market, underscoring its importance within the FirstRand group's strategic objectives. Despite the current economic landscape, Adekoya remains optimistic about the substantial potential present in Nigeria's equities market. She noted a disparity in trading volumes compared to other global exchanges, highlighting the untapped opportunities within the Nigerian market. Adekoya elaborated on ongoing governmental reforms aimed at bolstering the equities market, such as the Pencom reforms and the introduction of new derivative products by the Nigerian Stock Exchange. These reforms are expected to pave the way for increased market depth and transactional activities within the Nigerian equities space, presenting a favorable environment for RMB Nigeria Stockbrokers to thrive. As the company positions itself for future growth, Adekoya emphasized the unique approach RMB Nigeria Stockbrokers intends to adopt in the competitive market. Drawing from the experience of RMB Morgan Stanley, a successful joint venture in South Africa, the company aims to leverage its expertise and thought leadership to differentiate itself. Adekoya outlined a strategic focus on thought leadership and value-based services, aiming to drive market share and enhance ECM transactions. Furthermore, the company boasts a team of seasoned professionals with over a decade of experience in the industry, reinforcing its commitment to delivering top-notch services to clients. With a robust research team in place, RMB Nigeria Stockbrokers is poised to provide in-depth market insights and analysis, catering to the diverse needs of its institutional clients both locally and internationally. The company's service offerings include best-in-class execution services, access to trade flows, relationships with key decision-makers in listed companies, and a comprehensive research portfolio tailored to investors' interests. Adekoya underlined the company's recent research initiatives, such as the report on the cement sector, and hinted at upcoming reports to meet market expectations. The launch of RMB Nigeria Stockbrokers in the Nigerian market signifies a strategic move to capitalize on the burgeoning opportunities in the equities space. With a strong emphasis on innovation, expertise, and client-centric services, the company is well-positioned to make a significant impact in Nigeria's evolving financial landscape. As the equities market in Nigeria undergoes transformative changes, RMB Nigeria Stockbrokers stands ready to lead the way in unlocking the market's full potential and driving sustainable growth.