Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.

Gallery

Contact

+1-800-456-478-23

411 University St, Seattle

maxbizz@mail.com

Tech firm Waanzilishi gets investment adviser licence – Business Daily

Automated investment platform Ndovu co-founder Radhika Bhachu. PHOTO | DIANA NGILA | NMG
The Capital Markets Authority (CMA) has licensed web-based investment company Waanzilishi Capital as an investment adviser giving the green light to a firm that uses technology to help clients make investment choices.
Waanzilishi Capital owns the Ndovu platform that gives users a personalised portfolio with exposure to US-traded securities with automated advisory and financial education.
The firm charges up to one percent for advice on its Ndovu platform, which it says is cheaper than the five to seven percent one would spend to hire a traditional financial adviser.
The company also charges 0.05 percent to 0.25 percent as portfolio costs as well as money transfer fees which it says is also competitive to an investor, making their own bets that can cost up to three percent on the portfolio as well as set up, and administration and money transfer fees.
“Waanzilishi Capital has been licensed by the Capital Markets Authority to provide investment advice, manage portfolios, and design investment funds. It’s the digital-first capital market intermediary and the firm behind the groundbreaking Ndovu app,” said Ndovu CEO and co-founder, Radhika Bhachu.
Ndovu is an online investment platform that provides easy access to financial markets using cutting-edge technology and expert financial advisers. The firm gives buyers access to US-traded securities through the Financial Industry Regulatory Authority for as little as Sh5,000.
The platform uses the Securities Investor Protection Corporation to protect the securities of its customers for up to a portfolio value of $500,000.
Fintech firms are leaning on regulatory approvals to leverage young investors who have access to a large pool of web-based investment vehicles most of which are not regulated.
Mr Bhachu said the move to get CMA licensing is driven by the recent developments in Nigeria, Ghana, and Kenya regarding unregulated fintechs, showcasing an imperative for businesses to de-risk their operations on both legal and regulatory fronts.
“We see regulation as a key pillar of our strategy as it ensures that our company is built on strong pillars of transparency, compliance, and proper governance. Since our incorporation, we have worked closely with the CMA to drive innovation in the capital market ecosystem,” he said.
[email protected]

source

Author

admin

Leave a comment

Your email address will not be published.