Securities and Exchange Commission Issues CowryWise Portfolio Management Licence

CowryWise, one of Nigeria’s leading fintech companies, has been approved by the Securities and Exchange Commission (SEC) to operate as a fund and portfolio management company.

The company disclosed on Tuesday in a blog post published on its website.

Cowrywise is now the first fintech company in Nigeria to receive a fund and portfolio management license from the SEC.

Speaking on the licence, Razaq Ahmed, CFA, the Chief Executive Officer and Co-founder, CowryWise, said “As a fintech, securing a fund/portfolio management licence from the SEC is a really exciting milestone to announce. It ushers in the belief that the power of technology can be leveraged to deepen the capital market while protecting the investors. These two objectives are not mutually exclusive.

“Today is the start of something big for us and the investment industry. For a start, we will be deepening our partnership with other fund managers to fully build out the digital infrastructure for the investment management industry. This is part of our vision to democratise access to regulated investment products to millions of retail investors.

“To this end, we are extremely delighted to open up our investment API to empower any company to integrate investment features into their services. We launched early access today. You can view the investment API here https://lnkd.in/dTYMz7U and register for early access.

“We can’t wait to see the amazing things people will build by integrating investment features into everyday activities.”