Sasfin and Saxo Bank to work together

Johannesburg – Financial services group Sasfin [JSE:SFN] is to acquire Saxo Capital Markets South Africa (SCMSA) from Saxo Bank.

There will still be an ongoing collaboration between the two companies after the transaction is finalised.

Saxo Bank is a multi-asset trading and investment specialist Fintech bank.

Sasfin said it would leverage “Saxo Bank’s unique technology and global market access. Clients of SCMSA will, therefore, continue to have access to the same broad product range and platforms as they are used to”.

The group believes that an investment in SCMSA will lead into a broader outlook of trade within the South African financial markets.

Both SCMSA and Sasfin clients will not be affected by the transaction. 

There won’t be any legal and contractual change.

The CEO of Saxo Bank, Kim Fournais, said “the sale is part of our strategy to go deep in certain key markets ourselves and be present in other markets through strong partnerships”.

Fournais said the partnership was beneficial to all parties.

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