Candy n Candy CEO Joe Kariuki has been named the Best African Forex Trader 2019 by IC Markets, a leading Forex Contract For Difference provider based in Sydney, Australia.
Kariuki received the award at his 51 Capital offices in Nairobi on Tuesday, a few months after being released from prison in Tanzania.
The flashy businessman had spent close to two years in incarceration following his arrest on alleged money laundering accusations. He was, however, found innocent after a successful appeal and released in July this year
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51 Capital is an online forex trading that gives soft loans to people with no credit history.
Speaking to the press, Kariuki urged the youth to take up forex trading as an income-generating activity.
I am happy to be awarded this award. It comes at a period when we have restlessness because of unemployment, especially among the youth,” the businessman said.
“I feel forex trading is still an unexplored sector that young people can venture in since a majority of them are tech-savvy. Armed with only a laptop and Sh10,000, they can easily start online trading.”
Peter Gicheru, a partner director at 51 Capital, said the company has already initiated 70 trainees for a continental challenge, where the best 10 would be selected and given Sh1 million to start trading.
“Before they get into trading, we trained and mentored them so that they become knowledgeable on various issues such as knowing the market trends,” he said.