EFG Hermes could land Nigerian investment banking license by early next week: EFG Hermes frontier unit chief Ali Khalpey told Bloomberg that the investment bank is now waiting for regulatory approval and plans to hire five people in Lagos this year. EFG Hermes had announced in July that it had bought Nigerian brokerage and research firm Primera Africa Securities Ltd., which will be rebadged under the EFG brand.

Heading into 2019, EFG Hermes plans to use Nigeria as a regional hub for its operations in Africa. Last year, it obtained a stockbroking license in Kenya. The firm is now focused on consolidating in its African markets as well as recent expansion territories Pakistan and Bangladesh. Khalpey also said the firm remains interested in expansion into Vietnam.

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