DKK, FX liquidity provider, plans Africa expansion as revenues top £63m

BY Business A.M.

DKK Partners, an emerging markets foreign exchange liquidity provider, is set to roll off its planned major expansion into Africa after it saw its revenues top £63 million in its latest annual financials.

Last year its revenues were £60 million and it says the £3 million growth this year had been driven by a high demand for its suite of services, including FX risk management, access to deep liquidity pools, and local collections. It is now set to open four new offices in the Middle East and across Africa in addition to its head office in Mayfair, London.

In a statement the London-based company sent to Business A.M., it said apart from new offices, it has also been busy in the hiring market with an increase in its headcount from five to 15 full time staff, as well as unveiling a new brand identity, adding that it plans more senior hires and local country managers in the coming months.

The company, which was founded by capital markets specialist Khalid Talukder, previously of UBS, Citi and Deutsche Bank, and Dominic Duru of RBS and Citi, enables businesses to manage currency risk in frontier markets.

Its key services include offering virtual IBAN accounts, allowing customers to unlock access to new territories and currencies, as well as EM liquidity, giving direct access to real-time pricing and execution across frontier, emerging and G10 market currencies.

“It’s been an incredible year for our business, and with demand for our services surging, the time has come to open one-the-ground offices across key territories to give customers direct access to the very best consultancy. As we enter a new cycle of growth, we’re planning to make major investments in our platform, products and services as well as hire seasoned industry experts to further develop and grow our brand. Being of African heritage I am honoured to be able to give something back pushing our economic inclusion philosophy within emerging markets which are dear to DKK’s values,” said Dominic Duru, co-founder of DKK Partners.

The company was founded in 2020 by the pair of Talukder and Duru as an EM forex liquidity provider developing strategies and methodologies that help corporates and institutions more effectively manage currency risk and develop sharp pricing.

“As specialists in our field, we focus on three key areas: FX risk management, FX liquidity, and local collections. Our exact solutions will vary depending on your circumstances, but the quality of our approach can be seen by working with us,” the company said in an explanatory note to Business A.M.