DKK Partners, a FinTech company focused on emerging markets (EM) and foreign exchange (FX) liquidity, has launched operations in Ghana.
This office will serve as a hub for the African market and will be led by Sam Nti, who joins as director. It will be based in the Atlantic Tower building at Airport City, in Ghana’s capital, Accra.
The new office follows a record year of trading for DKK. Its revenues skyrocketed to £63m, up from £3m the previous year.
Its new operation has already completed know your customer for over 50% of its customer base which includes market leading companies and banks. DKK expects the Ghana operation to begin formally trading in the first quarter of 2023. It will also continue to onboard key importers with a high demand for FX.
UK-based DKK was founded by Khalid Talukder and Dominic Duru to help businesses manage currency risk in frontier markets. Its offerings include virtual IBAN accounts and EM liquidity.
Speaking on the expansion, DKK Partners director Sam Nti 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.”
This is the latest growth development from DKK Partners. It also recently signed a partnership with Bovill as its global compliance partner. Through the deal, Bovill provides DKK Partners with advice and recommendations around regulatory matters, in the UK and globally.
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