An asset management company, Volition Cap, said it has secured a fund management licence from the Nigerian Securities and Exchange Commission.
According to the company, the licence allowed it to operate as a registered fund manager in Nigeria, as it prepared to launch a suite of retail and institutional investment products for Africans living on the continent and in the diaspora.
The Chief Executive Officer of Volition Cap, Subomi Plumptre, said, “Our company was founded by entrepreneurs who truly understand the daily struggles of the middle class. From our operation’s inception, we have focused on empowering this group to attain financial success. The SEC licence is a significant milestone for us as we introduce retail and institutional products to drive economic growth.”
The statement said that the company had designed and managed a 3,000-member African cooperative, which led to contributors achieving a financial independence rate of up to 75 per cent within three years. The firm has also developed a $30m private equity fund for agriculture and real estate projects in Africa and disbursed over $250,000 to support local filmmakers through its entertainment and media fund.
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