This archive report was first published on 30 June 2021.
On June 30, 2021, Chaka, a Nigerian fintech startup, made a significant move in its regulatory compliance efforts by acquiring the Securities Exchange Commission of Nigeria's (SEC) Digital Sub-Broker/Sub-Broker Serving Multiple Brokers through a Digital Platform License.
Chaka, a technology solutions company, aims to provide every business and person in Africa with access to borderless digital investment and wealth management opportunities.
The platform offers tech services, marketing, customer service, and operations to brokers on behalf of their customers, providing unrestricted access to over 4,000 stocks trading on capital markets and is fully licensed by the SEC.
With a team that has worked in prestigious companies in Africa and beyond for over 25 years in banking, wealth management, payments, e-commerce, and marketplaces, Chaka applies its knowledge to its goods and processes.
Chaka's team combines investment expertise and best-in-class technology to provide reliable digital investing, trading, and wealth management solutions that are easy-to-use and easy-to-integrate.
As the first recipient of the newly-created brokers license by the SEC, Chaka has taken a significant step towards achieving its vision to level the playing field for African investors and fostering innovation within the sector.
“For us, this is an important step towards achieving our vision to level the playing field for African investors, and a defining moment for the future of digital investments in Nigeria, and Africa at large. Receiving this new license will enable us to continue to power on our mission to enable digital investing for businesses and individuals in the country and beyond,” said Tosin Osibodu, co-founder and chief executive officer (CEO) of Chaka.
