History
The Discount Houses subsector of the Nigerian
financial services industry commenced as a brainchild of the
Central Bank of Nigeria (CBN) in the early 1990's. Discount
Houses were established to bring sanity to an otherwise traumatized
banking sector. Discount Houses therefore became the conduit
through which banks were able to channel excess liquidity
and access same to and from the CBN. The Discount Houses created
a secondary market particularly for the trading of Treasury
bills and other commercial bills.
The regulations permitted the establishment
of Discount Houses by a consortia of acceptable and sound
financial institutions in order to ensure financial strength
and stability.
It was therefore the coming together of eight
financial institutions championed by the First Bank of Nigeria
Plc. (FBN) that gave birth to Kakawa Discount House Limited
(Kakawa) in 1995. Currently, there are five Discount Houses
in Nigeria .
Over time and with the dynamism that exists
in the Nigerian financial services sector, the guidelines
for Discount House activities have evolved and are now more
broad-based. As a result, Kakawa has also metamorphosed into
an organization with a carefully designed array of financial
services positioned to delight its customers.
We have evolved from being an essentially
mono-product institution into being the pioneer for the marketing
of Treasury bills to individual investors through the introduction
of our proprietary product, the Treasury Bill Backed Investment (TBBI)
in 1997.
In the late 1990's, Kakawa championed the
clamor for a liberalization of the Discount House guidelines.
In 1998, as the institution continued in
its typical proactive approach to business opportunities,
the Corporate Finance market was identified and we established an advisory
services unit, thus promoting growth for our 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.
As we continue on our journey in excellence
we remain committed to delighting the avid investor by Taking
it Further…….. |
