Nigerian trading platform launches in SA

A fast-growing Nigerian founded fractional share trading platform that will compete in the same market as EasyEquities has launched operations in SA. Fin24 reports that Bamboo, founded by Nigerian entrepreneur Richmond Bassey in 2019, will allow SA users to invest money in more than 3 000 US and Nigerian-listed companies. Like EasyEquities, Bamboo is a fractional share investing platform, meaning that users with limited means have access to expensive stocks by buying a percentage of a share. Bamboo announced that it was launching in SA last week after having been registered as a financial services provider by the Financial Sector Conduct Authority. It claims to have amassed more than 500 000 registered users in Nigeria and Ghana since its launch. By the latest calculation, the EasyEquities group, which launched in 2014, has more than 2m subscribers. The EasyEquities group also has a wider product offering, with access to companies on more exchanges, including the JSE, and different asset types, such as cryptocurrencies and property.