Oak Holdings Launches in Nigeria’s Financial Market
The Oak Holdings, a hybrid financial institution group, has launched into the Nigerian financial industry with Oak Homes, The Oak Capital, The Oak Digital Bank and The Oak Asset Management to provide services to different clients in the financial services industry.
Speaking at the launching ceremony in Lagos over the weekend, Mr. Olukayode Olusanya, Founder and Chief Executive Officer (CEO) of the group said, the company’s multi-asset strategy combines different types of assets, including equities, fixed income securities, private/mutual funds, indexing, money market instruments among others to create a more nimble, broadly diversified portfolio for its proprietary investment objectives.
Olusanya explained that Oak Homes is a leading real estate development company with its primary business in Lagos, Nigeria but it has recently made foray into the United Kingdom and the United States. He added that in addition to core real estate development, the company is also engaged in facility management, construction and infrastructure development.
He said The Oak Capital is a venture capital firm with a bias for supporting underserved start-up founders creating lasting solutions to problems in the African continent by leveraging the use of technology to promote growth of their businesses.
According to the Founder, The Oak Capital seeks to back audacious, young entrepreneurs who are solving critical problems across different sectors in Africa, by providing pre-seed and seed stage funding.
Citing statistics from the Credit Bureau Association of Nigeria, Olusanya said limited funding remains a critical bottleneck to the growth of small businesses in Nigeria, as only about four percent have access to credit.
Former Group Managing Director and CEO of First Bank Nigeria Plc, Mr. Bisi Onasanya, who graced the launching, among other dignitaries, advised the board and management of Oak Holdings to create financial advisory services department to relate with customers with a mindset of guiding the needs of its clientele. He urged those who graced the launching to endeavour to do business with the group in the future.