Bamboo, a Nigerian online investment and brokerage company, has launched Nigerian stocks with instant trade settlements and dividend payments on its platform.
Following the announcement, the company stated that it is offering local stocks, including from Blue Chip corporations like Guaranty Trust Holding Company PLC, MTN, and Dangote Cement.
Bamboo is ensuring that retail investors will see the fastest trade settlement timelines and the most seamless dividend payment system available in the Nigerian capital markets.
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The company looks to attract a new type of retail investor who is digitally savvy and expects a seamless user experience in buying Nigerian stocks as they did with U.S. stocks. To date, most of the active NGX accounts are owned by people who are more than 50 years old.
In turn, younger retail investors will be able to benefit from the NGX’s unbeatable financial returns and diversify their portfolios from USD-denominated assets. In 2023, the NGX grew by 45.9% to outpace inflation and outperform the US stock market. In January 2024, the NGX was the world’s best-performing stock exchange and it has returned 30% YTD.
Commenting on the launch and new partnership, Richmond Bassey, Bamboo CEO and Co-Founder said,
“We’re thrilled to finally launch Nigerian stocks on the Bamboo platform. Among our investors, local stocks are by far the most in-demand asset class and it’s clear why: the NGX delivers outstanding ROI and allows investors to diversify their portfolios. Not only do Nigerian investors understand local stocks better since they use these products and services daily, but they are more affordable and accessible. We’re incredibly proud to play a role in deepening African capital markets, starting with Nigeria.”
Founded in 2019 by Richmond Bassey and Yanmo Omorogbe, Bamboo is the easiest way to access smarter investment options and earn real returns. The startup makes investing simple, accessible, and affordable. Its fractional investing technology allows customers to invest as much or as little as they want in their favorite publicly listed US company, a bundle of companies called an ETF, other African companies, mutual funds, or fixed-income products from around the world.
Bamboo technology provides both retail investors and institutions real-time access to the US Stock market, other global capital markets, and investment products that provide real, inflation-adjusted returns.
It uses state-of-the-art data encryption when handling customers financial information and two-factor authentication (2FA) protection. The company is backed by top financial market operators and it not only meets traditional banking security standards, it exceeds them.
Armed with the most robust data feeds about the market, Bamboo alerts its investors with power triggers that ensure they make money moves as the market moves.