SEC Grants Volition Cap License to Operate as a Registered Fund Manager
Volition Cap, an asset management firm that helps the hardworking middle class build wealth, said today that it has received a fund management license from the Nigerian Securities and Exchange Commission (SEC) through December 2022. This license allows the company to operate in Nigeria as a licensed fund manager as it prepares to introduce a suite of retail and institutional investment products for Africans living on the continent and in the Diaspora.
According to the African Development Bank, Africa’s middle class has expanded to 34% over the last three decades, compared to Europe’s and America’s falling averages of 60% and 50%, respectively. According to a 2019 report on ‘The Investment Potential of Nigeria’s Middle Class,’ despite their growing wealth, the majority of this socioeconomic class’s liquid assets are primarily held in bank savings and deposits, leaving a vast gap for economic empowerment in developing countries.
Volition Cap, founded in 2018, is a game-changing asset manager that uses conventional cooperatives, a model it developed through Volition Cooperative, a licensed multi-purpose cooperative that makes investing easy for its members.
Volition Cap, in addition to normal products, enables working professionals in the diaspora to convert remittances to investments rather than gifts, allowing them to sustainably pay family upkeep back home and acquire local assets.
Volition Cap also offers fund and treasury management, company investment counseling, and individual or family investment plans to HNIs and institutional investors. Furthermore, Volition Cap’s professionals have trained over 10,000 people in investment literacy.
Volition Cap will lower the cost of investment services and the difficulty of quick access by employing technology to distribute products. This home-grown business is set to scale its bespoke goods across Africa and the Diaspora, thanks to the legitimacy and trust that an SEC license gives.
Volition Cap CEO Subomi Plumptre stated, “Our company was founded by entrepreneurs who truly understand the daily struggles of the middle class.” We have focused on assisting this group to achieve financial success since the beginning of our organization. The SEC license is a critical step forward for us as we launch retail and institutional solutions to fuel economic growth.
Volition Cap has a proven track record of achievement, having established and managed a 3,000-member African cooperative that resulted in contributors reaching financial independence rates of up to 75% within three years. The company has also created a $30 million private equity fund for African agriculture and real estate projects, as well as given over $250,000 to local filmmakers through its entertainment and media fund.
Please visit Volition Cap’s website at https://volitioncap.com/ for additional details.
