discount house

Kakawa Discount House Limited

Kakawa Discount House is one of the five operational discount, houses in [[Nigeria] which serves as Governments financial tools and acts as a middle access points between all other banks in Nigeria and the Apex bank of Nigeria (The Central Bank of Nigeria). As with all discount houses trade in Governments bonds and treasury bills are the primary business functions.

HISTORY

The Discount Houses sub sector of the Nigerian financial services industry was birthed in 1995 and came as an offspring of the federal government of Nigeria through the Central bank of Nigeria (CBN). Discount Houses became the venue through which banks were able to channel excess liquidity and access same to and from the CBN. A secondary market was created through the discount houses particularly for the trading of Treasury bills and other commercial bills. The name Kakawa is gotten from the street (kakawa street) in which the headquarters of their single largest shareholder is located (First Bank of Nigeria).

The shareholders are:

First Bank of Nigeria Plc

Guaranty Trust bank Plc

Sterling Bank Plc

First City Monument Bank

Skye Bank

Unity Bank

TODAY

kakawa has evolved from being primarily a mono-product institution into being the pioneer for the marketing of Treasury bills to individual investors through the introduction of its proprietary the Treasury Bill Backed Investment (TBBI) product in 1997.

In 1998, as the institution continued in its typically proactive approach to business opportunities, Corporate Finance was identified and it established an advisory services unit (Wealth Management Unit), thus promoting growth for its customers by increasing value through pertinent financial advice.

Kakawa continues to blaze the trail with the establishment of Kakawa Asset Management Limited, a wholly owned subsidiary licensed to act as fund managers for the discerning investor.

Kakawa Asset Management

Kakawa Asset Management(KAM) was incorporated in 2004, prior to its incorporation, KAM had operated as a department of Kakawa since 2001. KAM was primarily established out of the need to provide clients who had worked with Kakawa overtime, with longer term investment options in the financial services market.

KAM is registerd with the securities & Exchange commission (SEC) as a portfolio/fund manager and Investment Adviser. Overtime KAM has distinguished itself in the asset management business, emulating the traditions of its parent company in providing innovative and efficient services which have always created tangible value for its clients.

SLOGAN

At present the company's slogan is "Taking it further"

NOTES

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