(MENAFN- Your Mind Media )
For Immediate Release
UAE, Dubai – 2nd May 2024
CFI, the region's leading online trading provider, today announced its successful expansion into South Africa. The move marks a significant milestone in the group's strategic global growth and highlights CFI’s commitment to extending its reach within the African continent. Being granted a Category 1 Financial Service Provider (FSP) license by the Financial Sector Conduct Authority (FSCA), CFI affirms its compliance with rigorous regulatory standards and commitment to exceptional trading and investing services, safety, transparency, and reliability.
With the FSCA license in hand, CFI Financial (PTY) LTD, now an authorized South African FSP (FSP No. 53711), is actively preparing to launch its operations in South Africa. This preparation involves setting up the necessary infrastructure and systems to provide superior trading technology and innovative financial solutions to South African traders.
"This significant achievement underscores our relentless dedication to empowering traders globally while offering them a competitive edge in the markets," said Hisham Mansour, Co-founder and Managing Director of CFI. "With industry-leading conditions, the group remains at the forefront of the industry, leveraging its 25-year unblemished reputation to provide unparalleled trading and investing services and financial education, reaffirming our mission to empower traders globally with top-tier financial services," Hisham added.
This development is part of CFI's broader strategy to deepen its impact across Africa, building on the successful launch of CFI Egypt in 2023 and its expansion into Kuwait, Oman, and Palestine that same year. The new presence in South Africa further enhances CFI's status as one of the most comprehensively regulated groups in the industry globally.
The group's robust portfolio includes prestigious global regulatory licenses from the Financial Conduct Authority (FCA) in the United Kingdom, the Securities and Commodities Authority (SCA) in the United Arab Emirates, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Jordan Securities Commission (JSC) in Jordan, and the Financial Regulatory Authority (FRA) in Egypt, among others. These licenses underscore CFI's commitment to adhering to the highest international standards of compliance and governance.
As CFI prepares to launch operations in South Africa, extensive market research has been conducted to ensure that offerings are tailored to the region's unique demands, demonstrating CFI's adaptability and commitment to establishing a strong presence in sub-Saharan Africa. With South Africa leading the continent in online retail trading and investing, the robust regulatory environment overseen by the FSCA provides an optimal setting for CFI to reinforce its leadership in trading and investing services.
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