This archive report was first published on 5 July 2021.
July 5, 2021 - Nairobi, Kenya: EFG Hermes has launched an online equity trading platform, EFG Hermes One, designed to make stock trading seamless and convenient for retail investors at the Nairobi Securities Exchange.
The platform's introduction is seen as a significant move to shift the narrative and attract more retail investors, who currently account for a small percentage of trading activities at the NSE.
According to NSE Chief Executive Officer Geoffrey Odundo, foreign investors dominate the trading activities, accounting for almost 70 percent. He expressed hope that the new platform will change this profile and encourage more local investors to participate.
"We would like to see that profile change a bit and see if we can get more investors to come through," Odundo said.
The EFG Hermes One platform allows users to build, monitor, and customize equity watch-lists for individual stocks, stock portfolios, and their investment portfolios in real-time.
Investors can start trading and buying shares with as little as Sh50, making it accessible to a wider range of investors.
"As an investor, as little and as much as you want to trade if you want to buy a million shillings worth of shares, one hundred shillings or even 50 you could," said EFG Hermes Head of Equities Muathi Kilonzo.
The platform features several portfolio management tools, including comprehensive portfolio reports, executed trades, dividend payments, and order history and invoices on transactions.
