The second and final day of the Finance Magnates Africa Summit (FMAS:24) was in full swing at the Sandton Convention Centre, buzzing with energy and record attendance. This vibrant event highlighted the evolution of Africa's trading industry and brought together notable brands and professionals under one roof.
FMAS:24 is a significant event for Africa's trading and financial sectors. This year's summit showcased the continent's potential in online trading, fintech, crypto, digital assets, and payments. Attendees from both business-to-business (B2B) and business-to-consumer (B2C) sectors networked, learned, and created valuable connections.
With over a decade of experience in organizing top-tier events, FMAS:24 offered a unique platform on the continent. The summit provided access to world-class FX and CFD brokers, educators, forex experts, and influencers. Whether seasoned in the financial markets or new to trading, participants enhanced their trading and investment strategies through insights and valuable connections.
Building a Robust Trading Plan: Key Elements and Execution
During this session, Chantel Snyman, the CEO of TradeWithChantel, presented important insights on how to push toward profitability. She delved into the essential elements of a robust trading plan, empowering traders to craft a personalized strategy that works for them. The audience was taught how to develop and implement winning strategies that ensure trades are executed with precision and efficiency.
"Inside The Trader's Mind" by Ref Wayne, the CEO of ForexAMG
FMAS:24 highlight! The legendary forex trader and author of The Art of Trading Refined and Top Down Analysis on the Financial Markets, Ref Wayne, was in the house. This time, he taught traders how to develop a winning trading plan, including goal setting, choosing strategies, and achieving success.
The Highs and Lows of the Modern Trader
In today's dynamic financial landscape, achieving financial goals requires a strategic approach. In this session, Ashley Reeve, the Trading Educator of TD Markets, and Amar Ramith, the CEO of TD Markets, guided the audience on how to balance potential returns with risk management techniques. They taught traders how to make informed decisions and safeguard capital as they navigate the exciting world of investing.
SuperApps: One App to Rule Them All?
Marco Torrente, the Executive Head of Marketing & Digital at Vodacom Financial Services, mentioned: "The context of each market in Africa is extremely important, and I will give you an example. As you know, we have a super-app outside of South Africa called Mpesa. This was launched 17 years ago in Kenya with a specific use case, money transfer peer-to-peer. And the reason being, in Kenya, back in the day, there was no high penetration of branches of the different banks. And that was an opportunity for an outsider to provide a digital service through USSD and to empower and bring these people into the financial system."
"If I look at today's stats, we have close to 50 million active users transacting on Mpesa every month. And when Mpesa is not transacting, we actually receive a call from the Prime Minister in Kenya because more than 50% of the GDP is actually transacted on Mpesa. And these banks now are an opportunity for the Kenyan people and the rest of Africa."
Strategies for Trading Mastery: Pitfalls and Solutions
This session delved into the common trading mistakes in online trading and provided the audience with practical tools to tackle them head-on. It catered to both new trader and those seeking to level up their skills. Elsy Rayess is a seasoned industry expert, currently serving as FxPro’s Chief Business Development Officer.
All-Star Panel: Easy Tips and Hard Lessons
At the All-Star Panel, Adam Button, the Chief Currency Analyst at ForexLive, moderated an insightful panel discussion that brought together Robert J Van Eyden, the CEO of Scope Markets South Africa, Roger Eskinazi, the Managing Partner of Tickmill South Africa, and Rob Pletropaolo, the Co-Head of Trading at Unum Capital.
SuperApps: One App to Rule Them All?
As financial services shift more to mobile platforms, fintech innovators will closely examine the super-apps emerging in Africa. This region is notable for its extensive mobile usage despite facing significant infrastructure hurdles.
