Exotix Expands in East Africa With Equity Investment PartnershipEric Ombok and Renee Bonorchis
Exotix Partners and a unit of Kenya-based Equity Bank Ltd. agreed on conducting joint research and sales as the U.K. bank expands in Africa.
Equity Investment Bank Ltd. will execute Kenya and East Africa fixed income and equity trades for Exotix and regional institutional clients, London-based Exotix said today in an e-mailed statement. EIB’s research, equity and fixed income sales teams will also be integrated into Exotix’s, it said.
“Over time, the scope of the collaboration may extend to the provision of capital market advisory services in the East Africa region,” according to the statement.
EIB was formed in 2008 following the acquisition of a trading license from Juanco Investment Bank Ltd. The Nairobi Securities Exchange, whose initial public offering closed Aug. 12, has climbed 18 percent this year. The Kenyan shilling has weakened 2 percent against the dollar over the same period.