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Foreign Exchange

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Kenya's retail FX sector is taking off.

Thanks to the John Lothian newsletter (www.johnlothiannewsletter.com) for alerting me to a story that appeared in the Business Daily Africa about retail FX taking off in Kenya. The article starts: “Supported by a stable and rapidly expanding economy, Kenyans are taking huge risks in their choice of investments. Many are now taking bets in foreign exchange futures and commodities markets from the convenience of their office computers.” The report went on to detail the activities of a company called Genius Forex – and there was me thinking Goldman had the trademark on that name – that is acting as an introducing broker to Capital Markets Services CMS Forex.

The story is perhaps further proof that the potential of the retail sector is far from exhausted. It is no wonder, therefore, that the big banks are all rushing in.

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