How Trove Finance is Helping Nigerians Own Shares in Apple, Facebook, Democratising Wealth
- One of Nigeria's fintech companies, Trove Finance says it is helping Nigerians and others own shares in big companies across the world
- The CEO of the company, Oluwatomi Solanke said that they company has built platforms that allows people to buy and trade in shares of companies like Apple and Facebook
- He said the company is democratising wealth in Nigeria and Africa by allowing people with a tiny amount of money to buy shares of global brands
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Before now, owning shares in big companies, especially in big tech firms was considered a privilege which people with deep pockets enjoyed. Not anymore.
Trove Finance, a Nigerian micro-investing platform is democratising wealth and allowing individuals with so little to own stocks in big companies like Apple, Facebook, Amazon and the likes.
Technology that empowers traders
Oluwatomi Solanke, the co-founder and Chief Executive Officer of Trove Finance, told Legit.ng that what Trove has done is that it has built technology that allows individuals and financial institutions to access and trade in global securities.
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Solanke said Trove had built mobile and web platforms that currently allows over 200,0000 Nigerians that now trade stocks of companies that they know and love like Amazon, Facebook and Google.
He said that the companies allow traders to buy the shares fractionally and own global businesses with the comfort of their mobile devices.
According to him, Trove has built APIs that permit financial institutions like banks, broker-dealers and asset managers to provide their customers with the same ability to own some of the biggest brands in the world.
Big companies, big money
Trove trades the stocks of big brands like Netflix, Dangote, Apple, Facebook, Jumia and Twitter.
Solanke said the company is also providing financial literacy through Trove University, an app that allows traders to learn the basics of global investing and trading.
He stated that people with a tiny amount of money with as little as N5,000 can trade global stocks and N1,000 to trade Nigerian stocks.
Trove, he said helps, individuals and companies own shares in Nigerian, Chinese and US companies.
Trove is helping young Nigerians, especially students to make money as they trade in globally renowned stocks, Solanke said.
He stated that the company is blazing the trail on the African continent, being the first fintech firm to allow people access to what was before now considered an elite privilege.
Top savings platforms paying higher interest rates than Banks in Nigeria
Legit.ng reported that the Nigerian financial industry landscape is laced with interesting options, most of which give users the ability to make a choice that allows them optimal use.
While some banks in Nigeria are paying higher interest to depositors for saving money with them, others are just there to make profits and post interesting figures at the end of their financial year.
The minimum interest rate approved by a regulatory agency like the Central Bank of Nigeria (CBN) is 1.5 per cent.