London fintech DKK Partners hires Sam Nti to lead Africa operation
DKK Partners, a leading fintech company, specializing in emerging markets (EM) and foreign exchange (FX), has opened a Ghana operation.
The office, which will act as a hub for the booming African market, will be led by entrepreneur Sam Nti, who will join as director, and will include a further four full-time staff.
The expansion comes after a record year of trading for DKK, with the company’s revenue rising to £63m – up from £3m the previous year. The new operation will be based in The Atlantic Tower building at Airport City, in Ghana’s capital, Accra. The location was chosen by DKK to support prominent banks in the most important financial districts in the country.
The new business has already completed KYC (know your customer) verification for over 50 percent of its customer base which includes market leading companies and banks. The Ghana operation expects to start formal trading in the first quarter of 2023 and will continue to bring in key importers with high demand for foreign exchange, after the Bank of Ghana withdrew foreign exchange support in certain industries.
DKK, founded by capital markets specialist Khalid Talukder, formerly of UBS, Citi & Deutsche Bank, and Dominic Duru of RBS and Citi, enables businesses to manage currency risk in frontier markets.
Key services include offering virtual IBAN accounts, allowing customers to unlock access to new territories and currencies, as well as EM liquidity, which provides direct access to
real-time pricing and execution across frontier, emerging and G10 market currencies.
Sam Nti, Director, DKK Partners said: “I am delighted to be joining such an ambitious and forward-looking company that combines foreign exchange expertise with actual presence on the ground.”
“The Ghanaian market trades hugely in imports and has most of the country’s goods priced in foreign currency and not local currency. This makes the demand for foreign exchange high, after the Bank of Ghana has withdrawn its foreign exchange support to banks and other financial institutions to finance the importation of some commodities such as rice, vegetable oil and the like. This increases the opportunities for DKK to strive and reflects a promising and profitable future for DKK in Ghana.”
Dominic Duru, co-founder of DKK Partners comments, “We are delighted to welcome Sam to the team to lead our Ghana operation. He brings extensive business experience, local market knowledge and skills to further grow our business at a time when foreign exchange services is in demand.”
