SEC licenses Volition Cap for fund management operation

By Alexander Chiejina

The Securities and Exchange Commission (SEC), Nigeria’s apex regulator of the securities market, has granted Volition Cap, an asset management company, licence to operate as a registered fund manager in the country.

Volition Cap disclosed this in a statement as the company gets ready to introduce a range of retail and institutional investment solutions for Africans who reside on the continent and in the Diaspora.

“Our company was founded by entrepreneurs who truly understand the daily struggles of the middle class,” stated Subomi Plumptre, chief executive officer of Volition Cap, adding, “Since the beginning of our business, we have concentrated on giving this demographic the tools they need to succeed financially. The SEC license is a big step for us as we launch institutional and retail solutions to spur economic growth.”

So far, Volition Cap has designed and managed a 3,000-member African cooperative. Contributors achieved a financial indep­endence rate of up to 75 percent within two years with many of these contributors able to meet daily expenses from investment returns. The firm also created a $30 million private equity fund for agriculture and real estate projects in Africa and launched a landmark entertainment and media fund to support local filmmakers with over $250,000 disbursed in this regard.

The middle class has increased to 34 percent in Africa during the previous three decades, according to the African Development Bank, compared to declining averages of 60 percent and 50 percent in Europe and America, respectively.

Volition Cap described itself as a game-changing asset manager that makes use of conventional cooperatives, using a model it established through Volition Cooperative, a registered multi-purpose cooperative that makes investing stress-free for its members. In 2018, it was founded.

The company explained that working professionals in the diaspora are given additional goods by Volition Cap that enable them to turn remittances into investments rather than just presents, allowing them to sustainably support their families back home and purchase local assets.

For HNIs and institutional investors, Volition Cap said it also offers services including fund and treasury management, company investment counseling, and individual or family investment plans. More than 10,000 people have received investing literacy training from the specialists at Volition Cap.

It is promising to lower the cost of investment services and reduce the difficulty of quick access by utilizing technology to sell items, adding that as a homegrown company, it is ready to scale its custom goods across Africa and the Diaspora on the back of the credibility and trust that an SEC license gives.