Coronation Group receives CMHC license from SEC

Coronation Group has recently made a significant stride in the financial sector by securing a Capital Market Holding Company (CMHC) license from the Securities and Exchange Commission. This new achievement marks a pivotal moment for the group as it aligns with their mission to democratize access to wealth creation for Africans and tap into the power of ecosystems to drive innovation and customer-centric solutions. Kayode Akindele, the Managing Director and CEO of Coronation Capital, shared insights during an interview with CNBC Africa from the Nigerian Stock Exchange, shedding light on the group's recent developments. One of the key motivations behind obtaining the CMHC license was to formalize the Coronation ecosystem, encompassing various companies under one regulatory environment. Akindele emphasized the group's commitment to customer-centric offerings and leveraging the collaboration within the ecosystem to drive technical innovation and provide tailored solutions to meet the investment needs of clients. With a strategic focus on private markets, Coronation Capital aims to democratize wealth access through innovative approaches. By working closely with subsidiaries and affiliates like Coronation Merchant Bank and Coronation Asset Management, the group intends to offer a diverse range of public and private market products to cater to client needs in a structured and integrated manner. Furthermore, Coronation's venture capital arm, Triumph, focuses on nurturing businesses through seed investments and incubation, aiming to support entrepreneurs in securing vital seed capital. The group's foray into alternative investments not only involves educating clients on related products but also nurturing young talent within the investment management space to contribute to both the Coronation ecosystem and the broader Nigerian market. As the financial landscape evolves, Coronation Group remains poised for expansion and profit growth, leveraging its ecosystem to capitalize on renewed investor confidence in Nigeria following governmental reforms. Akindele expressed confidence in the group's ability to provide competitive returns for clients and support entrepreneurs in scaling their businesses amidst the evolving market dynamics. The recent Investiture Ceremony honoring Mr. Ayik Emokode as an Honorary Fellow of the Chartered Institute of Stockbrokers was celebrated as a well-deserved recognition of his visionary contributions to the industry. Akindele commended Emokode's strategic initiatives and Pan-African vision, highlighting his ongoing efforts to drive progress not only within Coronation Group but also across various philanthropic endeavors. In conclusion, Coronation Group's acquisition of the CMHC license signals a new chapter in their quest to empower Africans with enhanced wealth creation opportunities while fostering a culture of innovation, collaboration, and client-centric solutions within the financial ecosystem. With a strong emphasis on expanding market presence, driving innovation, and nurturing talent, the group is well-positioned to navigate the evolving financial landscape and deliver value to stakeholders.