Browsing: digital investment in Africa

• Data by the World Bank reveals that at least a quarter of the African population has internet access, a nearly fifty-fold increase in internet usage since 2000. 
• The rapid spread of the internet across the African continent has been lauded as a key driver of prosperity and a sign of the continent’s technological coming of age. 

Over the past few years, the wealth management industry has seen a significant amount of diversification, from traditionally having products geared towards institutional investors and high net worth individuals to offering more accessible products to low and middle-income earners. 

While WealthTech is not a new concept in Africa, there is room for market players to leverage consumer demand for wealth management products that are more digitally accessible and easy to use. 

WealthTech or wealth management technology is the combining of technology such as AI, big data, SaaS, with financial assets, such as savings, investments, …

Chaka Technologies (CT), a Nigerian digital sub-broker and digital investment platform has secured $1.5 million in a pre-seed funding to enhance digital investment in Africa.

In a move aimed at boosting economic transformation in Africa, the Nigeria’s Securities And Exchange Commission (SEC)-licensed firm raised the funding in a round that was led by Breyer Capital, a premier global venture capital and private equity firm focused on catalysing growth in high-impact tech companies.

Chaka is the first Nigerian Fintech to be licensed by the Securities & Exchange Commission of Nigeria (SEC).

Other participants in the round are 4DX Ventures, Golden Palm Investments, Future Africa, Seedstars, and Musha Ventures.

Borderless investments in Africa

The funding will serve as a catalyst that will enable CT to continue to power on its mission to enable borderless investments across Africa and deliver digital investment solutions for African businesses.

Chaka boasts 25 plus years of experience …