Software for Nigerian capital markets.
Systems for the institutions that operate them — subscription, filing, reconciliation, and the record a regulator will ask for.
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Nigerian capital markets run on infrastructure that was never designed for them.
Brokers reconcile by hand. Filings move by email and spreadsheet. When an offer is oversubscribed, allotment and refunds are worked out in a spreadsheet and typed back in. When a subscription fails halfway — payment taken, filing not lodged — someone finds it days later, if at all. The register reaches the registrar as a file that has to be checked line by line against the depository. The record of what happened is assembled afterwards, from memory and attachments.
Swancross builds the software that closes that gap. Systems that carry an investor from identity check to settled position, file to the exchange, reconcile against the depository, and leave behind an audit trail that answers a regulator without a reconstruction exercise.
We build for institutions — brokers, issuing houses, asset managers. Not for retail investors, and not as a marketplace.
Matamba is our first platform.
It gives a licensed broker a complete primary-market rail: investor onboarding and identity verification, subscription and payment, filing to the exchange, register import and reconciliation against the depository, and an append-only compliance record.
Alongside it sit two smaller products — a market-intelligence layer that answers questions on Nigerian market data in plain language, and a morning brief written against each firm’s own book.
Financial software is judged differently from other software.
A figure wrong by a fraction of a kobo is not a cosmetic defect — it is a discrepancy an auditor finds. A system that cannot show why it did something cannot be defended when it matters.
So the standard is set to suit the setting. Every figure traceable to the data it came from. Every material action recorded. Changes reversible. Behaviour proven by an automated test suite roughly the size of the application itself.
Investor data is isolated per firm at the database itself, not merely in the application. Every material action is recorded, and the record is exportable.
Nothing we build is demonstrated with invented data.