9 popular investment apps in Nigeria that make your money work for you
- Here are the investment apps on Android and iPhones that can help you grow your investment portfolios.
- The mobile investment apps allow customers or investors to save money with the option of investing in some portfolios such as stocks, bonds, mutual funds, and the agric sector.
- Business Insider SSA looks at these investment apps and their interest rates.
Investment apps are growing in Nigeria and millennials are embracing them, moving away from the traditional savings model or securities firms to financial technology-backed platforms.
The aim of these applications is to offer a hassle-free investment experience, as shown on Learnbonds.
The mobile investment apps allow individuals – experts and beginners- to save money with the option of investing in securities such as stocks, bonds, mutual funds, and the Agric sector.
A screenshot of an investment apps (bankrate)
While stockbrokers are still available to execute trades on behalf of investors, these apps allow you to take control of trading with your phone. Due to the risk involved in trading securities, you are advised to consult an investment professional before parting with your money.
Whether you want to buy stock in banks, listed telcos, or insurance firms, a few taps on your phone screen can get you on your way.
Business Insider SSA looks at some of the best investment apps that can make you rich and self-sufficient without stress.
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1. CowryWise – For savings and investment
CowryWise is a financial technology company that helps people save and invest through a mobile application.
With CowryWise you can invest in low, medium and high-risk investments. Some of these investments include Nigerian Eurobond, Mutual funds and other money market securities provided by third parties.
- Saving interest: 10%
- Investment interest – varies
2. PiggyVest formerly PiggyBank – for savings and investment
Advancing the old method of savings through piggy or native ‘kolo’, PiggyVest radicalises the form of saving in an online platform with an interest rate on it
- Saving interest: 10%
- Investment interest – Savings, Mutual funds, and others
3. Investment One – savings, investment and private banking
Investment One is part of GTB Asset Management wholly-owned subsidiary of Guaranty Trust Bank Plc (GTB)
Investment One offers distinctive business in financial services such as asset management, stockbroking, trust and pension fund management services, and others.
- Interest rate: Varies
- Investments: Savings, Investment banking, and private banking
4. Afrinvest (Afrinvestor) – Investment banking – Stocks, Bonds, and Treasury bills
Afrinvest focuses on West African markets with activities including investment banking, securities trading, asset management, and investment research.
- Interest rate: Varies
- Investments: Investment banking, Treasury bills
5. I-invest – Treasury bills
I-invest is a pan African inter-brokerage service firm in partnership with Sterling Bank Plc. The platform helps both new and experienced investors match their investment maturities to their needs.
The platform also covers West African market with the risk-free treasury bills.
- Interest rate: 8 – 11%
- Investments: Treasury bills
6. Stanbic IBTC – financial services, pensions and wealth management products, and services.
Stanbic IBTC provides both local and foreign investors various investment packages such as pensions, wealth management products, real estate, traditional loan calls and financial services including mutual funds
- Savings interest rate: varies
- Investments: Financial services and pensions management
7. FBN Edge – Mutual funds investment app, liquidity management and independent portfolios.
FBN Edge is a product of FBNQuest Asset Management, a subsidiary of FBN Holdings company. The app allows customers and potential investors to open mutual funds accounts and track investment flows.
- Savings interest: varies
- Investments: Money market funds, fixed income
8. Wema Bank Alat
ALAT is a fully digital bank designed one of Nigeria’s oldest banks, Wema Bank, to help people save more with certain interest rate. Alat.ng processing automated deposit from your account and allow you to earn as you save.
- Saving interest: 10%
- Investments: Savings
9. Wealth.ng – Investments – Fixed Income, Stocks, Savings, Agriculture
Wealth.ng app is a self-service investment platform that makes it easy for users to invest in Treasury Bills, Stocks, Mutual Funds, and Real Estate and monitor their portfolio in real-time.
You can do this anytime and anywhere!
It is presently one of the fastest-growing online trading platforms in Nigeria with the flexibility of cashing out your fund at anytime.
Wealth.ng is an affiliate of Sankore Securities Limited, and it is registered with the Nigerian Stock Exchange and regulated by the Securities and Exchange Commission (SEC), Nigeria.
- Interest rate (s): 10 – 14%
- Investments: Fixed Income, Stocks, Savings, Agriculture
Honourary mentions:
10. PayDay Investor – SavingsPayDay investor is a product of ARM Investment Managers, a subsidiary of Asset & Resource Management Holding Company (ARM).
PayDay investor app helps you earn interest while investing your funds automatically on a periodic basis.
- Savings interest: 10.9% – 12%
- Investments: Savings
11. KoloPay – Savings
KoloPay is another mobile piggy bank that helps you save towards a targeted goal.
- Saving interest: 10%
- Investments: Savings
Others:
12. Carbon
13. FarmCrowdy
14. Thrive Agric.
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