Bamboo Systems Technology Limited, Africa's leading online brokerage firm, has announced that it has been granted a digital sub-broker license by Nigeria's Securities and Exchange Commission (SEC).
This license will enable the company to operate in the Nigerian capital market and offer Nigerian securities on its platform.
With the issuance of the license, the SEC will be able to oversee the relationship between Bamboo and its sponsoring broker, Lambeth Capital. This will also allow Bamboo to enter into partnerships with multiple brokers to better serve its clients. The license will provide the platform with the opportunity to deepen its relationships with financial service providers and offer API services.
"We are thrilled to reach this important milestone," said Richmond Bassey, CEO and co-founder of Bamboo. "Since our launch, we have worked hard to provide the best technology solutions and industry best practices to allow Nigerian retail investors to access digital securities and build long-term wealth." "We are grateful for our collaboration with the SEC, which is dedicated to protecting investors while promoting innovation."
Bamboo, founded in early 2019 by Richmond Bassey and Yanmo Omorogbe, is a digital investment platform that offers real-time access to buy, hold, or sell stocks. Users can invest fractional amounts in their favorite publicly listed US companies, ETFs, mutual funds, or fixed-income products. The platform also provides educational materials, such as investment guides, to help new investors get started.
