JSE admits first Middle Eastern brokerage

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IOL image JSE interior view INDEPENDENT MEDIA The JSE is seen in this file photo: Leon Nicholas.

Johannesburg - Dubai-based Arqaam Capital on Wednesday became the first Middle Eastern brokerage to join the Johannesburg Stock Exchange, from where it plans to expand coverage of African stock markets as demand for fast-growing frontier assets hots up.

The emerging markets investment bank currently covers 42 African companies and plans to increase that to 125 firms by the end of the year, chief executive Riad Meliti said in Johannesburg.

Apart from South Africa, the brokerage will focus on Ghana, Kenya and Nigeria, he added.

“Arqaam Capital will not only be looking at the public markets but also diverting liquidity into private equity and so forth,” he said.

“We feel there is not enough venture capital liquidity available in the market place for the number of opportunities that are being presented.” - Reuters

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