The Kenya operations of Belize-based foreign exchange and CFD brokerage firm Scope Markets have welcomed new executives to lead its expansion into South Africa. Lynton White, an experienced financial services industry professional, will assume the role of General Manager.
Mr. White brings over 18 years of experience to the role. He joins Scope Markets following his short stint as Head of Business Development at Atossa Capital (Pty) Ltd.
Linton held similar positions at several South African-based exchange brokers including Veracity Markets, QuickTrade (Pty) Ltd and JP Markets. At Scope Markets, she will be responsible for overseeing all aspects of the business in South Africa, including strategic development, sales and marketing, operations and risk management.
“As we continue to expand our presence in South Africa and beyond, we are excited to be at the forefront of this dynamic and rapidly evolving industry. Or whether you're simply interested in the world of finance, connect with me to learn more about Scope Markets and our commitment to delivering excellence in everything we do.” wrote on Linkedin. profile.
Scope Markets, which was acquired by Rostro Financials Group, is part of a number of non-trading online foreign exchange brokers that have been licensed by the Kenya Capital Markets Authority (CMA) in recent years.
Forex brokers in South Africa are supervised by the Financial Sector Conduct Authority, the FSCA, which approves the platforms that can operate within its jurisdiction. This powerful watchdog handles the issuance of licenses and can sanction companies that violate the guidelines of the country's dual regulatory system.
South Africa enjoys a strong and well-organized financial market, making it a popular destination for brokers looking to expand. He is one of the world's top 10 capital markets and boasts thousands of investors. The country itself is a diverse market, with little of the market saturation seen in other regions such as Europe.
The resource-rich country's economy relies heavily on financial services, and the lack of competing financial centers in the southern part of the Black Continent only increases its attractiveness as a business hub.