DriveWealth enables Nigerian trading platform Chaka

By Oliver Smith on Thursday 17 October 2019

Savings and Investment

DriveWealth signs its second African partnership to enable US stock trading.

DriveWealth enables Nigerian trading platform Chaka
Image source: Chaka.

The low-cost share trading revolution continues to spread, this time to Africa where a Nigerian trading platform has partnered with DriveWealth.

Chaka, a Freetrade-like offering in Nigeria, will now add US stocks, ETFs, and ADRs alongside Nigerian equities and 40 other markets including the UK, Australia and Japan for its customers.

“Chaka has developed outstanding technology that we’ve integrated with our customizable APIs to make it easy for clients in Nigeria to participate in the U.S. stock market,” said DriveWealth’s CEO Robert Cortright.

“At a time when many Nigerians are seeking foreign investment opportunities for diversification purposes, this partnership fulfills an important component of Chaka’s global offering with access to the largest and most liquid stock markets in the world.”

Read more: DriveWealth names crypto exec Julie Coin as President

DriveWealth now has partnerships with share trading platforms on six continents, most notably Revolut in Europe and Stake in Australia, as well as partnerships in India and Brazil.

The company, founded in 2016, focuses on low-cost access to the US stock market via its API for international trading platforms.

“Traditionally, international investing has been a daunting task for Nigerians. Through our partnership, Chaka and DriveWealth are helping to fill this gap,” said Chaka CEO Tosin Osibodu.

“[DriveWealth] offers best-in-class technology for international trading to Nigerian investors, including the ability to start investing in an easy, affordable manner with fractional shares.”

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