Kudy Financials secures SEC licence to expand operation in Nigeria
By Cynthia Ezekwe
Kudy Financials Limited, a global digital asset management firm, has been issued a fund/portfolio manager’s licence by the Securities and Exchange Commission (SEC), Nigeria’s apex capital markets regulatory body, effective from the 11th of April, 2023.
This was disclosed in a letter of conveyance issued by the regulatory body to the company, which made it known that the fund/portfolio manager licence enables the Nigerian subsidiary to operate as a full-fledged fund/portfolio management company, one which is focused on the Nigerian market.
The licence also emboldens Kudy’s vision to be a financial sanctuary to millions of Africans, assisting them in their quest to invest for the future and achieve financial freedom.
Manasseh Egedegbe, the company’s managing director, while expressing his delight over the licence, disclosed that the company started the journey as a process in 2020, while stating that the company is eager to show Nigerians what financial sanctuary and freedom mean,” he continued, as the Nigerian subsidiary prepares to roll out a series of products targeted at the Nigerian market.
Egedegbe said the company’s investment philosophy is centred around the control of risk through diversification and specialisation, adding that the focus in the interim would be institutional investors and high net worth individuals, as they have the capacity for the risks associated with the Nigerian financial markets and Kudy’s tactical investment style.
“Once we have gained the confidence of this segment of the market, we will begin building out products that cater to the needs of the other sections of the pyramid,”Egedegbe stated.
Also commenting, Femi Oladunjoye, the company’s chief operating officer, said, “This licence opens a new chapter for the Kudy Group. It is the first iteration in our quest to have footprints across the globe, offering first-class financial solutions to our clientele.”
Kudy Financials SARL is a global fund manager licensed with Luxembourg’s capital markets regulator, Commission de Surveillance du Sector Financier (CSSF). Kudy began as an investment idea for friends and family in 2017 and has since grown to be an alternative investment manager of choice across the globe for many.