Chaka, a global trading platform launched yesterday 15th October 2019, offering customers access to Nigerian and global financial assets. 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 and the Nigerian Stock Exchange offering over 4000 assets and indexes from companies such as Apple, Alibaba, Google, the S&P 500 index and many more.
Chaka hopes to provide opportunities for local investors to explore international markets and diversify their portfolios into African and global capital markets. In addition to this, it will also offer global citizens access to invest in local capital markets with just a click.
Speaking on the inspiration behind creating the platform, Chaka CEO, Tosin Osibodu says, “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.”
“Our goal is to provide premium borderless trading and investment opportunities for Nigerian professionals and investors. Chaka facilitates access to assets listed on the Nigerian stock exchange, American stock exchanges as well as global blue-chip companies from 40+ countries around the world.”
“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,” concludes Osibodu.
The company 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.