Brokerage executive Shaban Khalayi has joined Pepperstone as the broker’s Partners Manager for Africa.

Khalayi will be based in the Aussie broker’s Kenyan office.

Pepperstone entered the Kenyan market properly back in 2020, when it acquired a license from the Capital Markets Authority (CMA), the local regulator.

The broker is one of several firms to have taken up a CMA license since rules governing CFD trading were first introduced in 2017.

Another one of those companies was EGM Securities, a brand operated by Equiti Group.

EGM Securities is also the company that Khalayi has moved to Pepperstone from. He joined the company just over six years ago as a Sales Executive and was subsequently promoted multiple times.

Most recently he was the firm’s Sales Director for Africa.

As the uptake of the CMA license suggests, Kenya has become one of the main markets for brokers looking to expand in Africa.

The country is typically one of the main markets that brokers target on the continent, alongside Egypt, Nigeria, and South Africa.