Chaka, Global Trading Platform Launched in Nigeria

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Peter Uzoho

Chaka, a global trading and investment platform has commenced operation to offer customers access to Nigerian and global financial assets. The tech-driven platform otherwise referred to as a digital ‘Investment Passport’ allows users to invest in stocks listed on the National Association of Securities Dealers Automated Quotation (NASDAQ), the New York Stock Exchange and the Nigerian Stock Exchange.
It offers over 4,000 assets and indexes from companies such as Apple, Alibaba, Google, the S&P 500 index and many more.

Chaka, provides opportunities for local investors to explore international markets and diversify their portfolios into African and global capital markets. it however, offers global citizens access to invest in local capital markets with just a click, thus bridging the gap in accessing viable investment vehicles.

Speaking at the launch in Lagos, the Chief Executive Officer of Chaka, Mr. Tosin Osibodu, said “With booming growth in many nations around the world, investors can now own a stake in the growth of other economies.

“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.”

Osibodu, noted that the goal of the company was to provide premium borderless trading and investment opportunities for Nigerian professionals and investors, adding 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.

According to him, “to provide our customers with compliant access to the US stock market, we have partnered with a U.S-based leader in global digital trading technology, DriveWealth, LLC. Through this partnership, we are ensuring that Nigerians can own a stake in their favourite companies in the US.”

He stated that, in ensuring regulatory compliance, proper market behaviour and security of investors, 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).

He further explained that 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,” Osibodu noted.