Partnering firm DKK delegates Sam Nti to head Ghana business expansion
Hittin' the Ghana Scene: DKK Partners' Expansion
Fintech powerhouse, DKK Partners, is making moves in the emerging markets (EM) and foreign exchange (FX) sector with their latest operation in Ghana. This innovative outfit, led by entrepreneur Sam Nti, will be nestled in Accra's bustling financial hub, The Atlantic Tower.
The new office is a testament to DKK Partners' flourishing year, with their revenue skyrocketing to a whopping £63m - a significant leap from the £3m of the previous year. With an initial team of five, including Sam Nti as director, DKK Partners is prepared to dive headfirst into the booming African market.
The strategic location in Accra positions DKK Partners to support key banks in Ghana's financial districts. Already, over 50% of their customer base has undergone KYC (know your customer) verification. Trade is expected to commence in the first quarter of 2023, with a focus on onboarding key importers as the Bank of Ghana withdraws support for FX in some industries.
Founded by Khalid Talukder, a capital markets specialist with a pedigree from UBS, Citi & Deutsche Bank, and Dominic Duru of RBS and Citi, DKK Partners offers businesses a lifeline to navigate currency risks in frontier markets. Their key services include virtual IBAN accounts, providing access to new territories and currencies, and EM liquidity, offering real-time pricing and execution across frontier, emerging, and G10 market currencies.
Sam Nti, the new director, expresses his excitement about joining a company that blends FX expertise with hands-on presence in the market. He notes the Ghanaian market's reliance on imports, most of which are priced in foreign currency. With the Bank of Ghana's decision to withdraw FX support for certain goods, it opens up opportunities for DKK Partners to thrive in Ghana, painting a promising picture for the company's future.
Dominic Duru, co-founder of DKK Partners, warmly welcomes Sam to the team. He believes Sam's local market knowledge and business experience will propel DKK Partners' growth in Ghana at a time when FX services are in high demand.
Ghana, a nation with a burgeoning economy, enjoys a historical relationship with international investments, particularly from countries like Denmark. The expansion of companies like DKK Partners can potentially impact Ghana's foreign exchange market positively by increasing foreign investment, fostering export opportunities, and promoting economic growth.
The expansion of DKK Partners into Ghana's market signifies a significant venture into the African business scene, as they aim to provide financial services to key banks and importers in the Ghanaian financial districts. With their focus on FX services, particularly amid the Bank of Ghana's decision to withdraw support for FX in some industries, DKK Partners is poised to release a comprehensive report on the Ghanaian market's financial landscape and business opportunities.
