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Fifth Malawian stock broking firm opens doors

African Alliance, which is to become Malawi's fifth stock broking firm, is expected to open for business this month. The African Alliance, an international stock broking firm joins the Malawi capital market after Reserve Bank of Malawi and Malawi Stock Exchange granted the firm a licence.

By Gregory Gondwe

8 Jan 2009

The firm's CEO Armstrong Kamphoni said ground work in preparation of the establishment of the company is complete.

“We anticipate that we will have an official launch this month,” said Kamphoni.

Currently Malawi's capital market has four stockbrokers namely Stockbrokers Malawi Limited (SML), FDH Stockbrokers Ltd, Trust Securities and CDH Stockbrokers Ltd.

African Alliance is a large investment bank currently operating in Africa and the African Alliance Group has its headquarters in South Africa.

Kamphoni said apart from getting a licence in Malawi the company has also received licences in Ghana and Egypt.

Gregory Gondwe

About Gregory Gondwe

Gregory Gondwe is a Malawian journalist who started writing in 1993. He is also a media consultant assisting several international journalists pursuing assignments in Malawi. He holds a Diploma and an Intermediate Certificate in Journalism among other media-related certificates. He can be contacted on moc.liamg@ewdnogyrogerg. Follow him on Twitter at @Kalipochi.