DKK partners appoints Sam Nti to lead Africa operation
By Business AM
DKK Partners, a leading fintech company, which specialises in emerging markets (EM) and foreign exchange (FX) liquidity, has appointed Sam Nti as director of its newly opened Ghana operation in the Atlantic Tower building at Airport City, Accra.
The office, which will serve as a hub for the booming African market, will be led by the entrepreneur, and will include an additional four full time staff.
The company said the expansion follows a record year of trading for DKK, with the company’s revenues rising to £63 million, up from £3 million it generated the previous year.
“The new operation has already completed KYC (know your customer) verification for over 50 per cent of its customer base which includes market leading companies and banks. The Ghana operation expects to begin formally trading in the first quarter of 2023 and will continue to onboard key importers with a high demand for FX, following the Bank of Ghana withdrawal of FX support in certain industries,” the company disclosed in a news statement.
Commenting on his appointment, Sam Nti, expressed delight to be joining the ambitious and forward-looking company which combines FX expertise with actual on the ground presence.
Speaking further, he said; “The Ghanaian market deals immensely in importation and has most of the country’s goods priced in foreign currency and not the local currency. This makes the demand for the foreign currency high, following the Bank of Ghana withdrawing their Foreign Exchange support to banks and other financial institutions to fund the importation of some goods like rice, vegetable oil and the like. This increases the room of opportunities for DKK to strive and reflects a promising and profitable future for DKK in Ghana.”
On his part, Dominic Duru, Co-founder of DKK Partners said the company is thrilled to welcome Sam to the team to lead the Ghana operation. Duru noted that the new director brings with him extensive business experience, local market knowledge and skills to further expand the company’s business at a time when FX services are in high demand.
DKK, founded by capital markets specialist Khalid Talukder, previously of UBS, Citi & Deutsche Bank, and Dominic Duru of RBS and Citi, enables businesses to manage currency risk in frontier markets.
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.