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Scaling to East Africa as a fintech – Admirals



What does Admirals do? How is it connected to the world of tech & startups?

Admirals is a global fintech hub, headquartered in Tallinn, Estonia serving more than 65,000 clients across 176 countries. Admirals provides sophisticated trading and investing solutions to both B2C and B2B markets, making trading and investment in financial markets accessible for retail, and institutional clients from across the globe.  

We offer our clients more than 4,000 instruments to trade with, which include forex and CFDs on stocks, bonds, indices, cryptocurrencies, and commodities. Additionally, clients have access to over 3,900 listed instruments, including stocks and exchange-traded funds on Invest.MT5 accounts. In addition, we also provide an array of educational resources such as webinar, e-books, courses, online videos, podcasts etc for our clients to learn before they start trading or investing and take informed financial decisions. 

When and why did you move to Africa? What is your business goal there? 

Admirals first entered the African market in 2021 with its first registered office based in Cape Town, South Africa. This was followed by the opening of its Lagos office in Nigeria in April 2023. Admirals was also awarded its license as a non-dealing online forex trading broker by the Kenya Capital Markets Authority (CMA) early in 2023. We are also a licensed and regulated securities dealer by the Financial Services Authority of Seychelles. 

The move into Africa was a natural progression of Admirals’ global expansion strategy. We have been enjoying steady growth and success in the mostly European market over the past 20 years. With our proven expertise, and backed by the agility of our ever-evolving platform, the timing was right for Admirals to move into the emerging markets, such as Africa. It is an exciting and giant step towards strengthening the Admirals brand as a top international financial trading hub. We hope to extend our scope of traditional trading and investing services as we look to expand our offering to include more diverse financial products and services to boost financial inclusion and financial literacy, particularly in developing economies on the African continent.


Admirals' launch event in Nigeria in 2023

What have been your learning points trying to break through in East Africa? 

The advent of fintech and the widespread adoption of digital technology by a younger, tech-savvy generation, spurred significant interest in online trading in the wider African continent. However, this rapid evolution also gave rise to increased complexity and overwhelming choices for consumers in the highly competitive online trading market. 

In today’s fast-paced and interconnected world consumers are presented with an ever-expanding scope of tech-based, self-service solutions that aim to promote independent financial decision making. But the simpler the solutions may seem to appear, the more complex and confusing the decision-making process can become. 

Also, brands need to understand that we need to help consumers cut through the clutter to make sense of the myriad of offerings out there. By equipping people with the right financial knowledge, tools, and skills, they are empowered to make sound decisions to help ensure their sustainable financial wellbeing – especially when venturing into the often-complex world of online trading.

"The advent of fintech and the widespread adoption of digital technology by a younger, tech-savvy generation, spurred significant interest in online trading in the wider African continent."
Boriss Gubaidulin
Director of the African Region at Admirals

What seems to be currently the most exciting thing about East Africa’s startup/tech scene? 

In East Africa’s vibrant startup and tech scene, the most exciting aspect currently revolves around the region’s commitment to simplicity, accessibility, and ease of use as foundational principles for innovation. Startups are leveraging technology not just for their own sake but strategically to add tangible value. 

The focus is usually on crafting tailor-made solutions that uniquely address the diverse needs and challenges present on the African continent. This intersection of user-centricity, technological application, and a keen understanding of the local context defines the dynamism that makes East Africa’s startup ecosystem truly compelling. 


Why did you join forces with Latitude59 in Kenya? What is your shared mission? 

Latitude59, with its focus on fostering innovation and entrepreneurship, complements Admirals’ dedication to providing cutting-edge financial solutions and empowering individuals to navigate the complexities of the digital economy. The synergy between Latitude59’s forward-thinking approach and Admirals’ expertise in financial markets promises to unlock new possibilities. 

By combining the entrepreneurial spirit cultivated at Latitude59’s events with the financial acumen that Admirals brings to the table, we are poised to create an ecosystem that nurtures creativity, resilience, and financial intelligence. Education stands at the core of this collaboration.  


Boriss Gubaidulin, the Director of the African Region at Admirals, will also be on the stage on December 6 at Sarit Expo Centre. Can you give a brief teaser – what will he be talking about? 

During the session, Boriss will delve into the transformative power of digital finance in the African context, exploring how technological advancements and financial innovation can pave the way for economic growth and empowerment across the continent. He will share his own experience on navigating the dynamic landscape of financial markets in Africa. From emerging opportunities to potential challenges, Boriss has gathered provide valuable insights into the strategies and tools that can empower individuals and businesses to thrive in an increasingly digital and interconnected world. 

So we hope the attendees will gain a deeper understanding – through the example of Admirals – of how to drive financial freedom through digital transformation, and how these principles can be harnessed to unlock new avenues for success in the African region. 


What’s the next big leap for you? 

We will sharpen our focus on customer-centric products even further – making tailored financial solutions and enhancing user experience. The integration of seamless payment options reflects Admirals’ commitment to facilitating efficient and secure transactions. 

We will also continue on strategic expansions into emerging markets which signifies the company’s vision to tap into new territories, offering innovative financial services and contributing to the growth of these regions. This multifaceted approach positions Admirals as a dynamic player, ready to shape the future of finance. 

Meet Boriss Gubaidulin and the Admirals team at Latitude59 Kenya Edition on December 6, 2023, at the Sarit Expo Centre in Nairobi – the international satellite event by Latitude59, the flagship startup and tech event of the world’s first digital society, Estonia!

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