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XTB has agreed to sell its South African subsidiary for $645,000, closing out what turned out to be an eight-year attempt to enter the African continent, one that never got off the ground. The Polish broker disclosed the deal in its 2025 annual report, filed this week , noting that a conditional sale agreement for 100% of XTB Africa PTY Ltd. was signed on February 17, 2026, with a buyer it did not name. The transaction remains pending regulatory approval from South Africa's Financial Sector Conduct Authority (FSCA), which must sign off on the change in ownership before the deal is finalized. The subsidiary, which received its FSCA operating license in August 2021 , never conducted any client-facing operations, according to the annual report. The company described the sale as resulting from "the subsidiary not commencing operational activities," offering no further explanation. Eight Years, No Clients, One License XTB first established the South African entity in 2018 and spent more than two years waiting for the FSCA to approve its application before finally securing the license. In early 2022, the company said it planned to start forex trading operations in South Africa in the second half of that year , calling the market a priority for its international expansion push. That timeline slipped, and then slipped again, until the company made no further public commitments about the market. The annual report's treatment of the sale is minimal. XTB Africa PTY Ltd. appears in the subsidiary table with one line of description - that it holds an FSCA license and has never operated - and the sale itself is dispatched in two sentences under post-balance-sheet events. There is no explanation from CEO Omar Arnaout, whose letter to shareholders discusses Brazil, Indonesia, Chile, and the UAE at length but does not mention Africa. The carrying value of XTB Africa on the company's books stood at PLN 2.34 million as of December 31, 2025, roughly equivalent to the $645,000 sale price at current exchange rates. XTB is selling the unit for approximately what it has on paper, recovering little from eight years of incorporation costs, legal fees, and license maintenance. The buyer, described only as "the purchasing party," is acquiring a fully-licensed South African brokerage for a price well below what an FSCA license typically costs to obtain from scratch. A Pattern of Retreats Beyond Europe South Africa is not the only market where XTB has pulled back. The company began liquidating its Turkish subsidiary in September 2020, following regulatory changes that gutted the country's leveraged trading market in 2017. That process remains incomplete more than five years later, with the Turkish entity still listed in the annual report as undergoing liquidation. More recently, XTB halted new account registrations in Brazil after ending a local partnership, and the 2025 annual report reveals the company is now weighing all options for that market, including a full exit, citing what it described as "local protectionism." A Brazilian special purpose vehicle was incorporated as recently as February 2026, suggesting the company has not yet made a final decision, but the language in the report is cautious. “Due to local market conditions, we decided to temporarily suspend further development in that market [Brazil]," Arnaout commented in the newest report, “focusing instead on growing our client base in Chile, while closely monitoring the long-term potential of the Latin American region.” The contrast with XTB's European and Middle Eastern operations is sharp. XTB posted record revenues in 2025 , with total operating income climbing to PLN 2.15 billion, driven almost entirely by its European client base and a surging Middle East business. Latin America and Asia contributed just PLN 33 million combined, roughly 1.5% of total revenues. Indonesia, where XTB injected additional capital in July 2025, remains on a short leash. XTB's CEO has previously described Indonesia as "a country with a question mark" that must prove itself , setting clear performance benchmarks for the subsidiary. Legal Head Departs After 16 Years Alongside the Africa news, XTB disclosed that Jakub Kubacki, its head of legal affairs and a board member since 2018, submitted his resignation on March 3, 2026, citing "important personal reasons." His departure takes effect on June 30, 2026, giving the company roughly four months to manage succession. Kubacki joined XTB in 2010 as a junior lawyer and rose to oversee the company's compliance , legal management, and internal control systems. His 16 years at the firm cover most of XTB's transformation from a mid-sized Polish broker into a publicly traded company with 15 regulated entities. No replacement has been named. This article was written by Damian Chmiel at www.financemagnates.com.
Bitcoin’s mining difficulty fell by around 7.7% at the latest adjustment on March 20 to 133.79 trillion at block 941,472, the sharpest drop since February, according to CoinWarz data. The latest move takes difficulty down from around 145 trillion in mid-March and roughly 148 trillion at the start of the year. A lower difficulty means [...]
As excitement builds around growing ETF adoption across the crypto market, smart money is pouring into promising presale entries that offer the kind of asymmetric returns the next dogecoin elon musk moment demands. According to CoinDesk, whale wallets are positioning in tokens with real utility beyond the hype, and one presale is catching the attention [...] The post Next Dogecoin Elon Musk: ETF Momentum Builds as Pepeto Targets Bigger Returns appeared first on TechBullion .
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Yeomans Consulting Group Inc. acquired a new position in iShares MSCI EAFE Value ETF (BATS:EFV – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 220,550 shares of the company’s stock, valued at approximately $15,749,000. iShares MSCI EAFE Value ETF comprises 4.6% [...]
Yeomans Consulting Group Inc. cut its stake in shares of Dimensional International Small Cap Value ETF (BATS:DISV – Free Report) by 56.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 140,272 shares of the company’s stock after selling 178,822 shares during the period. Dimensional International Small Cap [...]
Yeomans Consulting Group Inc. bought a new position in shares of Vanguard Total Bond Market ETF (NASDAQ:BND – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 259,795 shares of the company’s stock, valued at approximately $19,243,000. Vanguard Total Bond Market ETF [...]
Groupama Asset Managment cut its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 0.3% in the third quarter, HoldingsChannel.com reports. The firm owned 1,212,390 shares of the semiconductor manufacturer’s stock after selling 4,058 shares during the period. Broadcom accounts for approximately 1.4% of Groupama Asset Managment’s investment portfolio, making the stock its 10th biggest [...]
QP Wealth Management LLC acquired a new position in SPDR Gold Shares (NYSEARCA:GLD – Free Report) during the fourth quarter, HoldingsChannel reports. The firm acquired 2,970 shares of the exchange traded fund’s stock, valued at approximately $1,177,000. SPDR Gold Shares accounts for 1.0% of QP Wealth Management LLC’s holdings, making the stock its 26th biggest [...]