CowryWise: Nigerian personal finance platform encouraging saving and investment.

The NGX, in December 2021, also issued an exposure draft for the proposed rules for listing on the Technology Board of the NGX, which seek to supply guidance on listings for start-up tech companies and bigtech companies.
The Technology Board is likely to serve as a specialised platform for technology-based companies to list and raise capital on the NGX.

• The team is determined to empower 10 million Nigerians with usage of high-quality wealth management tools by 2025.
• Its provisions extend to fintechs and prohibit anti-competitive practices, including price fixing and arrangements that
• After downloading these apps you may be instructed to feel in your personal details, which might include your bank information.
• To join up and activate a merchant account within an andro company is through different categories of currencies like Bitcoin, Ethereum, Perfect Money, AdvCash, Litecoin, Dogecoin, Dashcoin, and Payeer.
• This is arguably the best & most known savings and investment app in West Africa.
• However, depending on the nature of tools adopted and the services provided, the activities of regtech companies may be

With Meristem, your cash is safe and sound; so that you can invest, without a doubt and be sure of getting paid weekly.
You buy with the expectation that when infrastructure finally reaches those parts of town, the commercial value of the land will significantly appreciate.
You can also make the most of land buying opportunities in your home town.
Be cautious to only cope with credible property developers, to avoid “Omo Onile”.
This is more of a long-term saving where your funds are kept for a minumum of one year to ensure you are disciplined and in a position to meet your financial plans and goals.
These financial tech companies have helped Nigerians to cultivate saving habits in the past years along with giving them opportunities to create various investments.

Cash App

Piggyvest helps over 3 million customers achieve their financial goals by helping them save and invest easily.
Piggyvest has been proven among the best Nigerian investment companies that pay weekly, additionally it is the very best savings and investment space in Nigeria founded on the 7th of January 2016 with the name piggybank as a savings-only platform.
Piggyvest is known as the first online legit savings and investment in West Africa.
In August 2021, the CBN obtained an interim court order from the Federal High Court for the freezing of the bank accounts of six online investment platforms – Rise Vest Technologies Limited (“RiseVest”), Bamboo Systems Technology Limited, Bamboo Systems Tech.
Further to a motion filed by RiseVest, this interim order was overturned in October 2021 by the FHC.
Furthermore, the Cowrywise website includes a well-written, informative blog authored by “Ope” – a friendly and trustworthy persona the Cowrywise team uses in all customer-facing communication as a trust-building mechanism.

• They take part in pension management services and asset management and valuations.
• It is among the online investment platforms where you can select an investment plan.
• Presently, rumours along with other unverified information on financial research platforms are not specifically regulated.
• Piggyvest helps over 3 million customers achieve their financial goals by helping them save and invest easily.

There is absolutely no particular source of funds peculiar to fintech companies for online lending purposes in Nigeria.
However, the most famous is lender-raised equity, whilst other resources of funds include loans (shareholder or third-party), deposit-taking activities, debt capital markets instruments, peer-to-peer bilateral funding and securitisations.
The Crowdfunding Rules permit micro, small and medium-scale enterprises to improve financing through crowdfunding intermediaries who will facilitate fundraising activities such as for example that of an offer on the market of securities or instruments via crowdfunding portals.
To safeguard the investing public, the SEC limits the total amount that retail investors can invest in a crowdfunded investment to 10% of their net annual income in a calendar year.
A number of fintechs in Nigeria concentrate on deploying answers to improve and democratise investment and wealth management with their customers.
Due to the cost of raising funds from traditional banks, crowdfunding applications have grown to be attractive platforms for raising finance for ventures/projects in Nigeria.

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Founded in 2017 by Razaq Ahmed and Edward Popoola, Cowrywise is pioneering the race for the prevalence of financial access in savings and investment, with at low as ₦100.
Millennials seek clear, transparent pricing that is based on simple fees and payment structures.

The jurisdiction of the SEC in the regulation of fintechs that operate can be found in the operation of wealthtech applications and crowdfunding platforms, among others.
In exactly the same vein, certain fintechs that offer the choice of pooling together capital from individual investors towards investment using asset classes should be registered with the SEC.

This plan is more flexible as you can make withdrawals at any time of the day without having to be charged and you are given having an account number where you can make deposits and receive funds.
The applicable and permissible platforms for trading securities in Nigeria are influenced by the kind of security intended to be listed.
For debt securities, the current trading platforms permissible will be the Nigerian Exchange Limited and the FMDQ Securities Exchange Limited .
Equity securities can be traded on the NASD OTC PLC and NGX, whilst commodities could be traded on the AFEX Commodities Exchange, the Abuja Securities and Commodities Exchange and the FMDQ.
The IMMRS Guidelines were issued to complement the IMTS Guidelines by facilitating foreign exchange transactions through mobile applications.

However, given the complexity of such products, they are often risky for users who don’t realize them well.
Cowrywise both empowers users to purchase such funds by making them common on the app, and in addition protects users by administering a financial literacy quiz before purchase so that only sophisticated users are recommended the merchandise.
The idea for a local player is always to work on partnering with a global B2B offering and handle local regulatory issues.
You’d then offer your customers usage of global markets via your B2B partner.
Deloitte estimates that robo-advisors for example require significantly less than 50% of AUM per client to profitably serve a client vis-a-vis traditional advisory.

This can be a trend that may be witnessed across the continent and even globally.
Women are a significant economic force and this should be considered in product and distribution design.
It’s clear then that the industry is facing significant headwinds from a global macro-trend perspective together with from an internal operational level.
The industry thus has to respond to improve both product, internal operations together with distribution.
A few of these issues certainly are a function of legacy technology systems and also regulation.
Go now and secure your own future by investing in the above-mentioned thanks.

In Nigeria, financial research platforms and participants are not subject to registration.
Non-registration of such platforms and participants thereto with the regulators only pertains to the extent that such a platform only provides factual financial data, news, research and analytics for participating in the Nigerian financial markets.
An issue that pertains to the very best execution of customer trades is that beneath the NGX Order Handling Rules, every dealing member must establish and implement an order execution policy to allow it to obtain, because of its client order, the perfect result.
Payment processors and payment gateways in Nigeria often operate within existing payment rails established by the CBN, like the Real Time Gross Settlement System.
Within this system, payment processors and payment gateways can easily provide an avenue for real-time processing and settlement of transactions undertaken between customers and merchants.