Exness has strengthened its presence in South Africa by opening a new office in Cape Town, which will operate as the contracts for difference (CFD) broker’s regional hub.
A Regional Hub for Africa
The broker explained that the new office will serve as the centre of its operations in South Africa and across the Sub-Saharan Africa (SSA) region. In continental Africa, the broker holds local licences from regulators in South Africa and Kenya.
“We see immense potential in SSA, and our investment here reflects our confidence in the region’s growth and in the incredible talent driving it,” said Petr Valov, Exness’ co-founder and CEO.
The office will house professionals with local expertise and insights, ensuring that the needs of regional clients are met.
“By building a strong local presence, we are bringing our global expertise closer to our traders,” said Paul Margarites, Exness Regional Commercial Director. “This office is more than a space; it’s a reflection of our long-term commitment to traders in the region.”
A Market With Huge Potential
Exness’ South African expansion comes at a time when many other brokers are also entering the country to tap into its potential retail trading market.
South Africa is the largest economy on the African continent, with a GDP of about $400 billion for 2024. Its higher per capita income also makes it an attractive market for retail brokers.
Meanwhile, Exness is also expanding in other parts of the world. Last month, it opened an office in Jordan’s capital city, further expanding its presence in the Middle East and North Africa (MENA) region, another growth market for CFD brokers. The company is also regulated locally in Jordan.
Both the South African and Jordan offices highlight that Exness is strategically expanding its physical presence across emerging markets.
This article was written by Arnab Shome at www.financemagnates.com.
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