Bamboo, a Nigerian online brokerage firm that allows Africans to invest real time in local and foreign asset classes has announced its official launch in Ghana.
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“We believe strongly that all Africans should earn a return on their investments and build intergenerational wealth. That’s why we created Bamboo: we wanted to create an easy and secure way for everyday Africans to invest in the U.S. stock market, and eventually, in all types of asset classes,” said Richmond Bassey, Bamboo CEO and co-founder.
More than 50,000 people have signed up on the waitlist to download the Bamboo app. Bamboo is the first retail brokerage app to launch in the country and is offering Ghanaians easy access to U.S. stocks.
Earlier this month, Bamboo received a No Objection Letter from Ghana’s Securities and Exchange Commission (SEC) for its operations. The company plans to work closely with the SEC on an ongoing basis to develop regulation for the retail investment industry.
Bamboo has partnered with licensed Ghanaian firm, 10th Capital Investments. Through Bamboo’s U.S. digital investing partner, DriveWealth LLC, all Bamboo accounts are insured up to $500,000 via the US Securities Investor Protection Corporation (SIPC).
Bamboo is on a mission to make investing in all types of asset classes accessible to all Africans. The Bamboo app has unique tools that help users pick stocks and ETFs to meet their investment goals:Stock page with real time price alerts ,Stock comparison page ,Price movement notifications ,Watch list tracking stock performance.
“We’re thrilled to work with Bamboo to bring Ghanaians the opportunity to invest in the U.S. and eventually the local stock market. Their impeccable track record in Nigeria, stellar product and educational tools make them an ideal collaborator,” said Albert Asiamah, 10th Capital Investments COO.
“Together with Bamboo, we’ve been able to provide investors across Africa with affordable access to the U.S. markets. Today, we’re thrilled to extend that same access to the people of Ghana,” said John Shammas, Head of Technical Sales at DriveWealth. “As we continue our international expansion, we look forward to empowering more customers with the tools they need to improve their financial wellbeing and engage with the markets.”