Global trading platform, Chaka, which offers customers access to Nigerian and global financial assets, was launched in the country last Tuesday.
The technology-enabled platform, referred to as a digital Investment Passport, allows users to invest in stocks listed on NASDAQ, the New York Stock Exchange (NYSE) and the Nigerian Stock Exchange (NSE). It offers over 4000 assets and indexes from companies such as Apple, Alibaba, Google, the S&P 500 index and many more.
With Chaka, local investors have the opportunity to explore international markets and diversify their portfolios into African and global capital markets. The platform also offers global citizens access to invest in local capital markets with just a click, thereby bridging the gap in accessing viable investment vehicles.
“With booming growth in many nations around the world, investors can now own a stake in the growth of other economies,” said Tosin Osibodu, the Chief Executive Officer of Chaka, while speaking on the rationale behind creating the platform. “Yet, for many Nigerians, this is a daunting task. We created Chaka to fill this gap, and likewise, give the global community access to local capital markets.”
The goal, according to Osibodu, is to “provide premium borderless trading and investment opportunities for Nigerian professionals and investors.” He added that Chaka facilitates access to assets listed on the Nigerian stock exchange, American stock exchanges as well as global blue-chip companies from over 40 countries around the world.
More so, the firm has partnered with a U.S.-based leader in global digital trading technology, DriveWealth, LLC, to provide customers with compliant access to the American stock market. “Through this partnership, we are ensuring that Nigerians can own a stake in their favorite companies in the U.S.,” Osibodu said.
All brokerage investments on Chaka are facilitated by Citi Investment Capital Limited, a licensed Nigerian stockbroking firm registered with the Security and Exchange Commission (SEC) to ensure regulatory compliance, proper market behavior and security of investors.
Chaka maintains a user’s brokerage account through bank-grade AES encryption software that protects the communication between the user’s device and the servers. All local brokerage accounts and global dollar brokerage accounts are insured by the Investors Protection Fund -based on the Nigerian Stock Exchange rules- and the Securities Investor Protection Council (SIPC) respectively.
“At a time when Nigerians seek foreign investment options to hedge against local risk, Chaka stands out to be the most technologically advanced brokerage solution offering seamless investing processes at home and abroad,” the company said in a release.
Chaka Technologies Limited is a company duly registered with the Corporate Affairs Commission, Nigeria. Chaka.ng is a platform implemented by the company to provide technology services, marketing, customer service, and operations to brokers on behalf of their customers.
Chaka partners with local and global regulated brokerages; through these partnerships, the offering is regulated in the U.S. by the SEC, FINRA, SIPC, IRS and in Nigeria by SEC, CSCS and the NSE.
For more information please visit chaka.ng.