Dear Investors,

On March 26, we published a statement stating that Chaka had taken steps to register for a “newly created license” with the Securities Exchange Commission of Nigeria (SEC). Today, we are happy to announce that we have been granted registration and licensed by the SEC as a Digital Sub-Broker/Sub-Broker Serving Multiple Brokers Through a Digital Platform.

This license cements Chaka’s status as a frontline Fintech company powering investing for Nigerian companies, retail investors and institutional investors. As such, Chaka’s operations remain within SEC’s purview as we accelerate our mission to enable individuals and businesses to invest in capital markets.

We are committed to ensuring that our investors have the requisite safeguarding and security as any regulated financial institution, and receiving SEC’s first fintech license demonstrates our sustained commitment to regulatory compliance.

This license is an important step towards achieving our vision to level the playing field for African investors. And just as importantly, a defining moment for the future of digital investments in Nigeria, and Africa at large.

We thank you for your continued trust and support. Our mission remains the same.

Sincerely,

The Chaka Team

To learn how you or your business can invest through our licensed platform, visit chaka.com/business or download the Chaka app on Playstore and App store.