Nigerian fintech startup Chaka acquires a key brokers license in order to ensure its regulatory compliance.


Chaka, a Nigerian investing platform, has acquired the Securities Exchange Commission of Nigeria’s (SEC) Digital Sub-Broker/Sub-Broker Serving Multiple Brokers through a Digital Platform License, as part of its regulatory compliance efforts.

Chaka is a technology solutions company on a mission to enable every business and person in Africa to access borderless digital investment and wealth management opportunities.

Chaka is a platform that provides tech services, marketing, customer service and operations to brokers on behalf of their customers. It provides unrestricted access to more than 4,000 stocks trading on capital markets, and is fully licensed by the SEC.

Chaka’s team has worked in prestigious companies in Africa and beyond for over 25 years in banking, wealth management, payments, e-commerce, and marketplaces. This knowledge is applied to the company’s goods and processes.

The startup’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.

Chaka has now become the first recipient of the newly-created brokers license by the SEC, as part of the commission’s efforts to foster regulation within the investment-tech space and to ensure the safety of the investing public while encouraging 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.