Fintech startup Cowrywise secures license from the SEC to digitize investments in Nigeria

NIGERIA – Cowrywise, a fintech startup, has been granted a Fund/Portfolio Management License by the country’s Securities and Exchange Commission (SEC), enabling it to operate as a fully-fledged funding management company. Securing a Fund/Portfolio Management license from the SEC emboldens the startup in its ambition of onboarding 10 million retail investors to the formal investment management industry by 2025. With the new license, the startup plans to offer more for its partners (fund managers) and investors on its platform. Cowrywise also said it will be making its APIs public to…

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Fintech startup Chaka receives license to operate its digital platform for buying and selling stocks

NIGERIA – Chaka, a fintech startup, has received a license from Nigeria’s Securities and Exchange Commission (SEC) to operate its digital platform for buying and selling stocks after months of uncertainty regarding regulations. Chaka becomes the first to acquire the digital sub-broker license introduced by SEC in April of this year. As part of a major amendment to its Consolidated Rules and Regulations, SEC recognised sub-brokers who use digital platforms to serve multiple brokers. Tosin Osibodu, the startup’s CEO, said that the acquisition took a tremendous amount of effort and…

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