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KIG BV expands global presence with the acquisition in South Africa

By Edlyn Cardoza

October 05, 2021

  • Asset Management
  • Europe
  • Financial Sector Conduct Authority
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GKG, KIG BV, Netherlands, Europe, South AfricaGKG’s KIG BV, the Netherlands-based global financial services group, has acquired a South Africa-based financial service provider, Maru Asset Managers, with the Financial Sector Conduct Authority (FSCA). 

Maru is an asset management company focused on combining disciplined methodologies with insightful qualitative investment processes. It offers equity investment solutions to the institutional investment market. 

The acquisition, part of KIG BV’s strategy to expand its global reach, gives the Group the right to provide intermediary services for shares, money market instruments, debentures, securitized debt, warrants, certificates, and other instruments. In terms of discretionary services, the acquisition provides KIG BV with a licence for bonds, derivative instruments, collective investment schemes, along with long- and short-term deposits in South Africa. 

The acquisition will give KIG BV access to Africa’s second-biggest economy, which is continuing to grow and is seen as the engine for growth for the continent. Furthermore, it will add to KIG BV’s presence in Africa, as it acquired a licence in Mauritius earlier in the year. 

Gökhan Erkıralp, KIG BV CEO, says: “We are very excited about expanding our global presence to South Africa. The country’s fast-growing population and local market presence represent an important opportunity for us. South Africa is also the major financial centre for the African continent, which will provide potential access to an increased customer base.”

“KIG BV aims to build a stronger, more innovative, and inclusive approach to international financial markets. We have already stepped into Africa with the GK Trade International in Mauritius and today’s acquisition builds on that. Our group will continue its expansion to increase its global reach and products.”

This year alone, KIG BV has made four significant acquisitions to increase its global reach and products. The Group entered the US with GK Trade New York by acquiring a FINRA licenced broker-dealer, the Australian market with ASIC licenced FairMarkets, the Mauritian market with FSC licenced GK Trade International, and the Turkish market by the takeover of Işık Menkul, a CMB regulated multi-asset broker.

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