Chaka, the Nigerian fintech that became the country's first SEC licensed digital sub broker, has introduced a new identity and product platform under the name Hisa, marking a shift from its Nigeria-focused brand to a broader push across Africa.
The move includes the replacement of the Chaka trading app with a redesigned platform that adds automated investing capabilities, after hours trading and a built in research tool called Atlas. The company has also adopted a flat 1% commission for each trade.
Chaka built its business around providing retail investors with access to publicly traded securities through mobile devices. The company said the latest changes reflect a market where access alone is no longer the primary challenge and where user experience, transparency and trust are becoming more important factors for investment platforms.
Hisa introduces a new interface and faster trade execution, while Atlas is designed to provide investment research inside the app so users do not need to switch to external services to gather information before making decisions.
The new name is intended to support the company's regional ambitions. Hisa means shares in Swahili, one of the most widely spoken languages in Africa, and signals plans to address a broader investor base beyond Nigeria. Investment services in Nigeria will continue to be provided through Chaka Technologies Ltd.
The launch comes as fintech companies compete for a growing retail investment market across the continent. Increased smartphone use, wider awareness of investment products and rising interest in international markets have created opportunities for platforms seeking to attract first time investors.
Existing Chaka customers can migrate to the new platform by updating their application, while new users can access Hisa through the Google Play Store and Apple App Store.
