Cowrywise, a Nigerian investment fintech, has processed more than 1 million stock trades one year after launching its Stocks product, as retail investors increasingly use digital platforms to buy Nigerian equities.
The fintech is now launching a curated stocks feature that lets users choose from selected companies backed by analyst research and rated “buy,” “sell,” or “hold.” The feature moves the investment app closer to the point where users decide what to invest in.
The move comes as retail participation in Nigeria’s stock market grows. As younger investors use apps to buy equities more frequently, investment fintechs are competing not only on access and ease of trading, but on how they help users decide where to put their money.
“We have been observing a gradual shift in how younger Nigerians think about investing. There is increasing interest in participating directly in the growth of Nigerian businesses, but historically, accessing the stock market felt complicated for a first-time investor,” Yarmirama Ashama, Associate Vice President of Product at Cowrywise, told TechCabal in an interview.
Originally published by TechCabal.