IG South Africa’s Continued Commitment to Investment and Growth in South Africa

IG, a global leader in online trading, has had a long commitment to South Africa which is set to increase further. The company  has operated in South Africa for ten years playing a key role in the growth of online trading in this sophisticated and growing market.

IG is committed to robust local governance, and is pleased to announce that Mr. Ndabezinhle Mkhize has recently been appointed as Independent Chairperson to the Board of IG Markets South Africa Limited. Mr Mkhize brings over 20 years of local financial services experience to the Board, and is also joined by two Non-Executive Directors, providing diverse expertise and experience.

Mr Mkhize joins IG as it embarks on a significant expansion in its operations in Johannesburg – more than 40 new, high-skilled, high-tech jobs are being created, representing a 65% increase in the Johannesburg workforce.

Ndabezinhle has 22 years’ experience in the investment space in South Africa, currently holding the role of Chief Investment Officer at Eskom Pension and Provident Fund. He is an independent non-executive director of JSE-listed Fairvest Property Fund, where he serves as chairman of the Audit & Risk Committee. He is also chairman of the Asset Owners Forum South Africa.  He brings extensive industry knowledge across asset classes and geographies, as well as an asset owner mind-set from his current role.

“I’m delighted to announce the appointment of Mr Mkhize to the Board of our South African business”, said Kevin Algeo, CEO of IG South Africa and Head of the APAC and Africa region. “Mr Mkhize, as our incoming Chairman, has deep knowledge of the financial services environment across the region and will bring robust local governance, oversight and expertise to our South African operations.”

With this move, IG South Africa recommits to recognising the vibrant and exceptional local talent pool of the country, with plans to significantly grow their Johannesburg operations over the next six months – from 62 employees to 105 (subject to regulatory approval).

“We will be recruiting for a wide range of roles, including marketers and marketing technologists, web designers, content writers and other creatives. This marks an incredibly exciting time for IG South Africa”,  concludes Algeo.

About IG, South Africa

IGMSA is committed to South Africa. Based in Sandton, over the last ten years we have successfully grown to meet the needs of South African clients, receiving numerous industry awards in recognition. This includes, our most recent award, Intellidex’s SA’s Top Stockbroker of the Year 2020 for the Top CFD Provider in South Africa . As one of the biggest employers in the online broking category, we are proud to be playing a leading role in the growing and important wider financial services industry in South Africa.

IGMSA respects South African regulatory compliance and oversight. We know from our interactions with regulatory authorities across the world that the South African financial regulators are highly respected for their oversight of the South African financial services sector and financial system. We’re looking forward to seeing the FSCA establish the new OTC Derivatives regulatory framework and we’re confident the FSCA will drive necessary best practice that will ensure robust and proportionate regulation for the OTC Derivatives sector in South Africa for years to come.

About IG Group

IG is part of IG Group (‘IG’), which is headquartered in the United Kingdom in London and listed on the London Stock Exchange (LSE). IG is a global business with offices in 17 countries across Europe, Asia, the Middle East, Africa, Australia, and the USA. IG serves over 200,000 clients globally and employs over 2,000 people. IG is currently midway through a three year growth strategy to become a more global, sustainable and diversified business.

IG’s vision is to provide the world’s best trading experience. Established in 1974 as one of the world’s first providers of financial derivatives to retail traders, it continued leading the way by launching the world’s first online and iPhone trading services.

IG is an award-winning, multi-product trading company which allows retail, professional and institutional clients to trade 24 hours a day, 7 days a week*. IG is the world’s No.1 provider of CFDs** and a global leader in forex. It provides leveraged services with the option of limited-risk guarantees and offers an execution-only stock trading service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG has a range of affordable, fully managed investment portfolios, which provide a comprehensive offering to investors and active traders.

IG is listed on the London Stock Exchange and is a member of the FTSE 250, with offices across Europe, including a Swiss bank, Africa, Asia-Pacific, the Middle East and North America. IG Group Holdings plc holds a long-term investment grade credit rating of BBB- with a stable outlook from Fitch Ratings.