Empire FX Hires Pepperstone's Africa Chief Sahil Patel as COO in Nairobi

Empire FX, a Capital Markets Authority-licensed retail forex and CFD broker headquartered in Kenya, has named Sahil Patel as Chief Operating Officer (COO), the company said today (Thursday). Patel will be based in Nairobi and oversee global operations as the firm targets expansion across Africa, the Middle East and Asia.

Patel joins from Pepperstone, where he spent more than six years building the Australian broker's Africa business. He led the firm's Kenya entity from 2020 and most recently served as Head of Africa.

"Sahil’s appointment represents a pivotal moment for Empire FX as we transition into our next phase of growth,” Peter Onyango, CEO at Empire FX, commented. “We are not just expanding geographically - we are building a more sophisticated, scalable Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFD trading business that can operate at a truly global level.”

Competition for Kenyan Traders Heats Up

Kenya became the first African market to regulate online forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term when the CMA introduced its framework in 2017. The country now hosts more than 100,000 active retail FX traders, drawing a steady stream of international brokers.

Capital.com entered Kenya with local licenses in January 2026, shortly followed by XM.

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They join Exness, which obtained CMA approval in 2022, and more recent arrivals including IC Markets in 2024 and FP Markets in 2025.

Equiti's FXPesa unit and INGOT Africa round out the licensed field.

A Senior Hire Amid a Broader Talent Reshuffle

The appointment lands during a sustained wave of executive moves across retail brokers, with firms competing for operators familiar with emerging markets as European and Australian retail volumes plateau.

In a statement, Patel said his focus would be on "building a robust operational framework that supports long-term, sustainable growth." Onyango said the new COO brings "a rare combination of strategic vision and operational discipline."

Empire FX operates under Kenya's CMA framework and offers leveraged FX and CFD products to retail clients.