THE NAGA GROUP AG CORPORATE NEWS
The NAGA Group announces strategic expansion to Australia and the African region accompanied by strong July results
- NAGA Markets Australia with local offices to be established in Sydney, subject to license approval by the Australian Securities & Investments Commission ('ASIC')
- NAGA Markets South Africa with local offices to be established in Capetown subject to license approval by the Financial Sector Conduct Authority ('FSCA')
- Training centers operational in Port Harcourt and Lagos, Nigeria
- Sales of around € 2.2 million in July
Hamburg, 25.08.2020 - The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for investing NAGA.com, reports its most recent global expansion activities to Australia and African regions and updates on strong July results.
After its profitable record half year, a successful capital increase and share price performance of more than 250% year-to-date, NAGA is set to expand its services in further regions outside Europe. Given the strong global demand for digital solutions in the financial education, investing and personal finance space, the NAGA management chose to expand NAGAs services to Australia and the African region.
"These are very special times for the entire global economy. One key takeaway is that everyone and everything goes digital. Especially digital solutions for financial services see significant demand and this opens new room for growth. Due to our entirely digital setup we are in a position to scale very quickly and enter markets fully online. We believe that NAGAs products and services meet all criteria for clients in the digital era. We are ready to grow NAGA through robust regulatory setups and scale faster than ever before", says Benjamin Bilski, Founder & CEO of NAGA.
Press contact | |
Andreas Luecke, | |
The NAGA Group AG | |
press@naga.com |
CORPORATE NEWS
With the registration of NAGA Markets Australia Pty Ltd last week, NAGA plans to start its Australian operations in 2021 subject to regulatory approval by the local regulator, ASIC. A local presence is foreseen in Sydney in the upcoming months. "With more than six million people who invest actively in the financial markets, Australia shows a massive potential for us. Our platform is ready for the Australian market and in our view, fits the Australian client profile. We would be able to expand our client base, capture more trading hours per day and accelerate our growth significantly. We are very excited and genuinely looking forward to bringing the most advanced technology for social investing to Australia", adds Bilski.
To top this up, NAGA seeks a licence by the FCSA in South Africa with a local presence in Capetown, planning its launch also early next year. "South Africa has seen a lot of momentum in the CFD & stock trading market over the past years. With the same time zone and English as first language, the entry into the market will be extremely efficient for us. Based on our market research we have learned that a social investing platform like NAGA will have a head-start in South Africa and that the market still has substantial growth potential", comments Bilski the planned start in South Africa. Additionally, NAGA has already expanded into the African region with 2 training centers in Nigeria namely, in Port Harcourt and Lagos which already welcomed our first clients.
Concluding the news about its expansion, the NAGA Management also reports the trading results of July. Sales stood at approx. € 2.2 million with a recorded trading volume of close to €10 billion and 532.000 real-money transactions. "Despite the fact that summertime usually has lower trading activity due to the holiday season, we are very satisfied with the result of July, especially that we were able to post a profitable month on a net-profit level, even though we invest heavily into growth. We are fully on track to reach our targets published last month. By now it is also concretely evident that volatility of the first quarter of the year due to COVID-19 has contributed to our revenues however the core of our great results has been simply customer base growth which continues to drive NAGA forward every single month. It is essential for us to further grow the customer base, increase our brand exposure and push for more marketing", concludes Bilski.
Press contact | |
Andreas Luecke, | |
The NAGA Group AG | |
press@naga.com |
CORPORATE NEWS
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About NAGA
NAGA is an innovative fintech company that has developed a socially enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical Mastercard and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that's accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.
Press contact | |
Andreas Luecke, | |
The NAGA Group AG | |
press@naga.com |
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NAGA Group AG published this content on 25 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2020 11:34:09 UTC
