Volition Cap, an asset management company focused on empowering the middle class, has obtained a fund management license from the Nigerian Securities and Exchange Commission (SEC) as of December 2022. This license allows Volition Cap to operate as a registered fund manager in Nigeria and paves the way for the company to launch a range of investment products for Africans living on the continent and in the diaspora.

The article highlights the significant growth of Africa's middle class, which has reached 34% over the past three decades, surpassing the averages in Europe and America. However, despite their increasing wealth, the majority of the middle-class population holds their liquid assets in bank savings and deposits, leaving room for economic empowerment in developing countries.

Volition Cap, founded in 2018, utilizes a cooperative model through its licensed multipurpose cooperative called Volition Cooperative to make investing more accessible for its members. In addition to traditional products, the company enables diaspora professionals to transform remittances into investments, providing sustainable financial support for family upkeep and local asset acquisition.

Volition Cap offers various services, including fund and treasury management, business investment advisory, and individual or family investment plans, catering to high-net-worth individuals (HNIs) and institutional investors. The company has also conducted investment literacy training for over 10,000 individuals.

Leveraging technology to enhance distribution, Volition Cap aims to reduce the costs and accessibility challenges associated with investment services. The SEC license adds credibility and trust to the company, positioning it to expand its tailored products across Africa and the diaspora.

Subomi Plumptre, CEO of Volition Cap, emphasizes the company's commitment to empowering the middle class and considers the SEC license a significant milestone in driving economic growth.

Volition Cap boasts a successful track record, having managed a 3,000-member African cooperative, resulting in contributors achieving up to a 75% financial independence rate within three years. The company has also established a $30 million private equity fund for agriculture and real estate projects in Africa and supported local filmmakers through its entertainment and media fund with over $250,000 in disbursements.

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