By Cynthia Ezekwe
Volition Cap, an asset management company that empowers Africans and diasporans to create wealth, has secured a fund management license from the Nigerian Securities and Exchange Commission (SEC), to kickstart fund management and boost investment services.
The license which was secured in December 2022, allows the company to operate as a registered fund manager in Nigeria, as it prepares to launch a suite of retail and institutional investment products for Africans living on the continent and in the diaspora.
The company, which was founded in 2018,said it is a game-changing asset manager that leverages traditional cooperatives, a model it created through Volition Cooperative, a licensed multi-purpose cooperative, making investing stress-free for its members.
In addition to standard products, Volition Cap enables working professionals in the diaspora to transform remittances to investments, and not just gifts, so they can sustainably finance family upkeep back home and acquire local assets.
The asset management company also provides services for HNIs and institutional investors, including fund and treasury management, business investment advisory, and individual or family investment plans..
By leveraging technology to distribute products, Volition Cap will reduce the cost of investment services and the challenge of easy access. Also, the credibility and trust that the SEC license confers, the company to scale its bespoke products across Africa and the Diaspora.
Subomi Plumptre, CEO of Volition Cap, noted that the company was founded by entrepreneurs who truly understand the daily struggles of the middle class, adding that the SEC license is a significant milestone for the company, as it has introduced retail and institutional products to drive economic growth.
Through strategic partnerships, Volition Cap created a $30 million private equity fund for agriculture and real estate projects in Africa. It pioneered the first fund that leveraged traditional cooperatives, which led to 3,000 members achieving a financial independence rate of up to 75 per cent within three years. Volition Cap also disbursed $250,000 to African filmmakers through its landmark entertainment and media fund.
With a mission to drive economic independence, Volition Cap’s financial literacy courses have equipped over 10,000 Africans to take control of their finances.
