Turkey based financial services and trading conglomerate Global Kapital Group (GKG) has announced that its KIG BV unit in the Netherlands has acquired a South Africa-based financial service provider called Maru Asset Managers.

Maru, licensed by the South Africa Financial Sector Conduct Authority (FSCA), is an asset management company with a dedicated focus on combining disciplined methodologies with insightful qualitative investment processes. It offers equity investment solutions to the institutional investment market.

The acquisition, part of KIG BV’s strategy to expand its global reach, gives the Group the right to provide intermediary services for shares, money market instruments, debentures and securitized debt, warrants, certificates, and other instruments. In terms of discretionary services, the acquisition provides KIG BV with a license for bonds, derivative instruments, collective investment schemes, along with long- and short-term deposits in South Africa.

The acquisition will give KIG BV access to Africa’s second biggest economy which is continuing to grow and is seen as the engine for growth for the continent. Furthermore, it will add to KIG BV’s presence in the Africa region, as earlier in the year it acquired a license in Mauritius.

Gökhan Erkıralp, KIG BV CEO, says:

‘We are very excited about expanding our global presence to South Africa. The country’s fast-growing population and local market presence represent an important opportunity for us. South Africa is also the major financial centre for the African continent, which will provide potential access to an increased customer base.’

‘KIG BV aims to build a stronger, more innovative, and inclusive approach to international financial markets. We have already stepped into Africa with the GK Trade International in Mauritius and today’s acquisition builds on that. Our group will continue its expansion to increase its global reach and products.’

Global Kapital Group, which operates the GKFX and GKPro FX brokerage brands, has made four acquisitions via KIG BV this year to increase its global reach and products. The Group entered the US with GK Trade New York by acquiring a FINRA licensed broker-dealer, the Australian market with ASIC licensed FairMarkets, the Mauritian market with FSC licensed GK Trade International, and the Turkish market by the takeover of Işık Menkul, a CMB regulated multi-asset broker.