Yakubu Ishaku Teri is the managing director of Kwakol Markets, a fast-growing startup Fintech company that demonstrates competence in assessing macro-economic linkages with industries and firms. In this interview with IFEOMA OKEKE-KORIEOCHA, he speaks on the company’s plans for the nation’s Fintech sector and more. Excerpts:
When was Kwakol Markets founded and what is its focus?
Kwakol Markets is a global multi-asset broker, creating new opportunities in the financial markets for the global audience, wherever they are, and helping them create the future they deserve. Kwakol provides a simple, secure, and superior trading experience and services with transparency and innovative technology.
Kwakol Markets is an authorised Finance company by Australia Security and Investment Commission (ASIC); we are authorised to provide financial product advice, deal in financial products/issue, and apply for, acquire, vary, or dispose of financial products for clients.
We are a global multi-assets broker operating in a growing number of jurisdictions including Nigeria, Australia, Canada, the US, and New Zealand. We provide a simple, secure, and superior trading experience with transparency and innovative technology.
Kwakol Markets began operations in May 2021 with a vision to bring emerging opportunities in the global financial markets to untapped markets as well as innovate around products and services that push the frontiers and create new opportunities.
Africa is not the typical headquarters of a global brokerage firm. Is Kwakol Markets making a stand?
That’s a factual assessment of the global landscape of trading in particular and also finance in general. We recognise that this has significant implications for the service that traders get from these traditional brokerage firms.
Beyond just wanting to create a truly African brand with a global reach, we believe that we are best positioned to meet the unique needs of traders and tackle their pressing pain points that other brokers may overlook.
Kwakol Markets is quickly acquiring licenses in Cyprus, Australia, Hong Kong, and local Nigeria. No lack of ambition there. What‘s next for the broker?
We are anchored by our mission to help individuals and institutions to create deserving financial futures. To do this, we devote our people, capital, and ideas to innovate around products and services that help us to achieve this mission. Today, this can take the shape of a brokerage service that enables people to earn sustainably and reliably OR a product that democratizes access to trading education as with Kwakol Academy.
The immediate goal is to iterate on these offerings to serve clients in the best way possible and extend our award-winning services to new clients and markets. We are currently seeing growth in our client base from Europe and Asia and we want to consolidate our global standing. In the future, we rely on the incredible team of innovators we have on the team to help break new ground. So, watch this space.
What is the story behind the launch of Kwakol Markets?
I am always happy to share the motivation for why we do what we do. We are driven by the mission to empower people to earn reliably and sustainably as they look to secure their future.
Technology innovations in global finance open up several opportunities for people to generate wealth, even for those with limited capital who have previously been financially excluded. We identified online trading as a low-hanging fruit for people, especially young people, on a wealth-building journey.
At Kwakol, we see ourselves as the vehicle that delivers this opportunity to people, especially those in underserved markets; while remaining globally competitive. Our experience trading with a plethora of brokers helped us identify gaps in their services that we believe we are well-positioned to plug and deliver more value to traders.
Given our experience trading with a plethora of brokers, we identified gaps in their services that we believed we could plug and deliver more value to traders like ourselves and enhance the general experience; including profitability. The lockdowns back in 2020 provided an opportunity to lay the foundation for what Kwakol is today.
Since then, the evolution has been incredible and the building journey has been as worthwhile. We have managed to acquire licenses in several markets including Australia, Hong Kong, and Canada with some other market entries lined up over the next few quarters.
We believe it is important to have views about where the world is going to go and what will be important in the future. Therefore, we strive to envision the future to the best possible approximation to allow us to build a company and innovate around products that thrive in the short as well as long term. We rather proactively seize the future than re-actively struggle to shape-shift to survive in the future. This is a challenging but incredibly exciting exercise for us.
What sets you apart from the competition?
The company was founded to bring a new light on innovation in the online investing industry. We are a team of energetic and young analytical thinkers, with a client-centric approach in everything we do. A happy client makes us happy and pushes us to achieve new heights every day. Our growth is backed by our client’s satisfaction and that is what gives us an edge in the market.
Our blend of a clear understanding of the context and our world-leading innovations uniquely position Kwakol Markets to serve our customers as no alternative can. Our ability to bring our knowledge and experience within our context and blend that with frontier technology innovations allows us to get it right in delivering our promise to clients. The world would be missing a lot if Kwakol didn’t exist.
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What should we look out for from Kwakol in the near future?
Our starting point is that the world should and can be different and we are responsible for making it so. Our lofty ambition may not provide a clear vision for the careless observer but expect the picture to develop over time as we launch some exciting products and services.
We are a customer-obsessed company and what we are building is informed by the customer experience and our vision. Expect to see new features, products, and services that ease customers’ current pain points, enhance their trading experience including profitability, and expose them to new opportunities. The immediate goal is to iterate on current offerings to serve clients in the best way possible and extend our award-winning services to new clients and markets.
We are currently seeing growth in our client base from Europe and Asia and we want to consolidate our global standing. In the future, we rely on the incredible team of innovators we have on the team to help break new ground. So, watch this space!
We believe that everyone deserves a financially secure future and that we will make that a reality. We have managed to bring together a group of brilliant individuals that are constantly innovating and generating new ideas.
Our promise to our clients is that we will always commit our capital, people, and ideas to help them create the future they deserve. That’s exactly what success looks like. People building lasting wealth. That’s the impact we want to have. Building a world-class and market-leading company is only the vehicle to success.
We have recently announced our foray into new markets, the launch of exciting client-focused tools and apps that enhance the trading experience, and new licenses. Our young and vibrant team is always innovating around products and tools that advance our clients’ pursuit of financial freedom. We have a slew of developments in the pipeline. So, watch this space!
Is there anything more in store?
We have many more for our clients. We are customers obsessed and we continually task ourselves to deliver beyond what you’d expect from a traditional broker to our clients. Kwakol Academy has a wealth of resources and hosts a community for members of the Kwakol Tribe to connect. Kwakol Research is consistently delivering insights to make our clients smarter about the workings of the local and global economy.
How would you describe yourself?
I am a self-motivated and conscientious individual, who holds a Bachelor of Medicine and Bachelor of Surgery from Afe Babalola University Ekiti State, Nigeria. Being a holder of a great office in Kwakol, I have shown knowledge in budget, financial consultancy, business decisions, market research, and analysis and have participated actively in the evaluation of business operations in Kwakol as this helped in resolving the issues and trends that affect the company.
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