Nigerian lender Sycamore expands into asset management with SEC licence
- Sycamore has secured a fund manager license from the SEC to operate as a fund and portfolio manager.
- The company aims to offer diversified portfolios across stocks, bonds, and money-market instruments.
- CEO Babatunde Akin-Moses noted a strong customer demand for accessible investment options among its 300,000 users.
Sycamore's strategic expansion into asset management is a commendable move that addresses a significant gap in Nigeria's investment landscape. By focusing on underserved segments like freelancers and SMEs, the company not only diversifies its offerings but also contributes to financial inclusion. However, the success of this initiative will depend on effective execution and the ability to attract and retain customers in a competitive market.
