Chaka rebrands to Hisa
Chaka and Hisa apps have merged into one 'Hisa' app. Existing portfolios are maintained, with users told to expect improved services.
Chaka, the Nigerian stock investing app, has rebranded to “Hisa”.
Founded in 2019, Chaka Technologies Limited became the first digital sub-broker to be licensed by Nigeria’s Securities and Exchange Commission in 2021.
“The name Hisa captures exactly what we’re trying to achieve. We wanted a name that feels familiar, accessible, and distinctly African,” Olabode Popoola, Hisa’s Head of partnerships and product operations, told Condia. “Investing shouldn’t feel like something imported or reserved for a select few. Hisa is about giving more Africans the opportunity to own a piece of the companies and assets they believe in, through a platform built with their needs in mind.”
The Hisa investment app replaces the Chaka app and introduces a redesigned investing experience that the company hopes will be simple and transparent. Existing users retain their portfolios and account histories, even as new users are onboarded.
Digital investment apps democratised investing for Africans
Over the last seven years, the entrance of digital investment platforms has democratised access to the stock market for an entire generation. For a long time, investing in stocks was exclusive, manual, and tedious, requiring a broker located at an office in Ikoyi, Lagos.
Digital investment apps, like Hisa (formerly Chaka), still work with stockbrokers, but modernise the investment experience for a mobile-first and internet-savvy audience. For instance, according to Hisa’s website, access to the Nigerian Exchange (NGX) is through a dealing member, Citi Investment Capital Limited.
Beyond modernising the experience, digital investment apps allow customers to enter the market at a more affordable price point through “fractional investing”. These platforms also aggregate multiple regional exchanges and give customers a one-stop shop for stock trading, in addition to other ancillary services.
The Hisa app is available on both the Google Play Store and the Apple App Store. Existing Chaka users can update their app to access the new Hisa experience, while new users can sign up directly to begin investing.
