One of the main drivers of Mauritius’s push to become the premier financial hub of the countries lining the Indian Ocean basin, the publicly-listed SBM Group is one of the island nation’s largest financial services providers. In addition to its 42 domestic branches, the group has established a presence in India, Madagascar, and more recently Kenya, where it acquired earlier this year a majority stake in Fidelity Commercial Bank, now renamed as SBM Bank Kenya.
One of the group’s wholly-owned subsidiaries, SBM Securities Ltd, offers a comprehensive range of investment and trading options, including real-time access to the Stock Exchange of Mauritius. The firm is the only stockbroker on the island offering access to Government of Mauritius Bonds on the secondary market, in addition to operating a global fixed income desk. SBM Securities’ services also include underwriting and listing services. Thanks to its privileged access to retail clients of the SBM Group, the firm is able to handle the on-boarding of investors, organise road shows, and assist corporates with the preparation of their IPO.
SBM Securities was the first Mauritius broker to offer both domestic and overseas clients access to derivatives trading. The SBM Securities trading desk operates on extended hours to offer clients full exposure to European equity markets and the opening of the major US exchanges.
The CFI.co judging panel agrees that Mauritius enjoys a solid reputation as a financial centre, and within that, SBM Group is recognised as one of the most experienced and best-equipped service providers. The judges note that SBM Securities was the lead broker for the placement of $165m depository receipts for the Afreximbank, with the funds raised locally from overseas investors. The judges are pleased to offer SBM Securities the 2017 Best Stockbroker Indian Ocean Award.