Vantage expands its presence in Africa with a new license in South Africa
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Vantage, previously known as Vantage Markets, is expanding its presence in Africa. The company is expanding its presence in the continent by securing a derivatives license from the South Africa Financial Sector Conduct Authority (FSCA).
Vantage secures a license in South Africa
A press release shared by the company said that this new license would enable the forex and contracts for differences (CFDs) brokerage company to provide its services in South Africa and attract local clients.
The Chief Strategy and Trading Officer at Vantage, Marc Despallieres, commented on the development, saying that the company secured an FSCA license. The executive also said that the company has been looking to expand its operations in South Africa, and it was also determined to offer traders access to the best financial services and products while achieving compliance
“We are thrilled to receive our FSCA license. We have had our sights on South Africa for some time, and we were determined to be able to provide traders with exceptional financial services and products while operating in compliance with the highest regulatory standards,” Despallieres said.
Vantage has its headquarters in Australia. The company operates in Australia using its Australian Financial Services (AFS) license that was received from the local regulatory body. The broker also offered its services locally using regulatory approval secured from the Cayman Islands and Vanuatu.
Vantage expanded its presence in South Africa when the brokerage industry witnessed significant growth. Some leading global brokers such as Admirals and XTB have secured a license to allow them to secure a license in South Africa. A few brokerage companies also sign clients from South Africa using international licenses.
Vantage is strengthening its management team in South Africa
The company wants to venture into South Africa by strengthening its management team. One of the new appointments made to expand its presence in the country is Ted Odigie. Odigie has been promoted to the Head of Sales for Africa, with the promotion being seen in November last year. Odigie is joining Vantage’s South Africa management team more than one year after joining the brokerage company.
Odigie will play an instrumental role in supporting the growth of the broker in its new market. He comes with more than 17 years of experience in the brokerage industry. According to Vantage, his expertise is mainly in business development and client management.
Before Odigie joined Vantage in August 2021, he had worked for over a year at Scope Markets. He later left the company when he was serving as the Head of Sales. Additionally, he served as a Sales Manager at Eagle Global Markets (EGM) in Nigeria. EGM is a local FX and CFDs brokerage company. Odigie started his career in the brokerage industry in 2006 at a securities company. Given his vast experience, he will be a value addition to the company’s operation in South Africa.
