Dubai data giant DirectFN signs deal to enter East Africa

Data service providers
Bloomberg and Reuters are the main data firms in East Africa. PHOTO/FILE
DirectFN, a news and market data agency focused on the Middle East and North Africa market, has signed a partnership deal with Thinktank Marketing Limited to start operations in East Africa.

The firm allows financial institutions and private investors to obtain real time and delayed market data and analysis from over 50 stock exchanges, global financial news, and multi-asset class and fundamental data.

The firm said it would primarily concentrate on the financial market, mainly targeting investors with its services that also include provision of technology products and services.

The partnership will allow DirectFN to sell its products, mainly web-based financial market data and investor relations services in the sector.

“DirectFN provides a cost effective solution that is easy to deploy and can be tailored to cover the markets a client wishes without having to pay for data they do not require,” said the firm’s head of sales and marketing David Hann.

The firm’s entry into the region is set to heighten competition in the profitable sub-sector of market intelligence, as the role of data in business strategy becomes more important.

Bloomberg and Thomson Reuters are the main data vending firms operating in the East African region.