By Victor Okonkwo
Investing is a great way to grow your wealth over time.
Before now, a lot of people could not access investment opportunities because they involved long processes and a certain level of capital.
However, with advancements in technology and the advent of fintech startups, it is now easier to find investment opportunities online through investment apps.
Investment apps have helped a lot of people to easily get into the world of investing. This article briefly gives a rundown of some popular investment apps in Nigeria.
1. Cowrywise
Cowrywise is a dominant, digital-first wealth management platform for the young generation of Nigerians and Africans, built to simplify and democratize access to savings and investment products. They offer one of the largest pool of mutual funds in Nigeria. Their savings offerings include Regular savings, Emergency savings, Halal savings, Savings circles and Money Duo while their investment offerings include Naira and Dollar mutual funds.
Licenced by the SEC, Cowrywise helps you save and invest in low-, medium-, and high-risk investment plans, making it perfect for Nigerians looking to automate savings and invest simultaneously.
One of this fintech’s most notable feature is its investment circles, which lets you save and invest with friends and family. Cowrywise also provides financial planning tools and educational resources to aid its customers with managing their finances.
2. Piggyvest
Piggyvest is one of Nigeria’s leading online saving and investment platforms, with over 4 million customers. With Piggyvest, you get to save using various in-app features. Piggyvest gives you access to investment options and you can start investing safely with as low as N5000. Piggyvest offers interest rates as high as 10% for savings and additional interest for users who invest in its partner businesses. It is a trusted app with a simple user interface. This platform is popular for its easy-to-use interface and tools that promote financial discipline, making it a strong choice for beginners looking to combine investing and saving. Piggyvest has been named amongst the world’s top 250 fintech companies. It also enjoys partnerships many financial institutions.
3. Bamboo
Bamboo is an investment platform that gives you access to investment options in stocks. With Bamboo, you can buy and sell stocks both in Nigeria and the US market. It gives access to thousands of stocks, ETFs, and other global assets. Bamboo is ideal for users who want to diversify their investments across borders. This one of the fintech companies that offer fractional shares (only for its US stocks), making it accessible to small-scale investors. With your BVN, you can use the app from anywhere in the world.
The Securities and Exchange Commission (SEC) regulates the app and offers fixed returns and Treasury bills. However some of its users report delays in transaction processing.
4. Trove
Trove is another digital investment app in Nigeria that helps you invest in local and foreign stocks or shares. With a minimum of N1000, you can invest in stocks, bonds, ETFs, and other securities in the market. Trove allows you to invest in naira or in US dollars with a variety of over 4000 stocks available.
You can start investing with as little as $10 or ₦1,000 across local and international markets, including major companies in Nigeria, the US, Europe, and China. Trove Finance features include Trove Social (a stock investment community), Earn by Trove (a fixed-income option), USD Virtual Card, and Stock Gifting.
5. Risevest
Risevest is a digital investment app that acts as a dollar asset manager. It connects Nigerians to foreign investment opportunities through products such as fixed income, US real estate, and US stocks. Risevest helps you grow and manage your money by acting as a fund manager. It allows you to invest in dollars, which can be beneficial in hedging against the depreciation of the Naira.
With more than 600,000 users and over $42 million paid to customers, Risevest is presently in five countries, including Nigeria and Kenya. It entered these countries in September 2024 after the country’s Capital Markets Authority (CMA) approved its acquisition of Hisa, another investment startup in the East African nation.
6. Chaka
Chaka is another investment app in Nigeria that helps you trade in local and foreign stocks. They are fully licensed by the SEC and the app is accessible to both individuals and companies for investment opportunities and wealth management. The SEC-regulated platform allows users to open dollar and naira accounts, giving them flexible investment management across different currencies.
Chaka charges trading fees that range between 0.69% and 1.5% for foreign investments, with a 0.5% or ₦100 broker commission fee for Nigerian stocks.
7. I-Invest
I-Invest is an investment app in Nigeria where you can securely buy and manage treasury bills, Eurobonds, shares, fixed deposits, commercial papers, and even insurance. I-Invest helps you build and manage an investment portfolio conveniently. I-Invest is an investment platform that stands out for its fixed-income options. While it has limited growth potential compared to stock or crypto investments, i-invest caters to Nigerians looking for lower-risk investments with steady returns.
Originally focused on offering only Treasury bills, I-Invest lets users buy and manage Eurobonds, commercial papers, insurance, mutual funds, and fixed deposits directly through the app. The platform also offers access to shares on the Nigerian Stock Exchange, making it versatile for different investment needs.
The app also allows users to create savings plans, earning as much as 11% per annum while paying utility bills, purchasing airtime, and accessing financial news.
8. Quidax
Quidax is a user-friendly cryptocurrency platform designed for Nigerians who want to invest in digital currencies. The app, limited to crypto, allows users to buy, sell, and store various digital currencies at competitive rates, making it accessible to beginners and experienced investors.
Quidax’s straightforward interface makes it easy for users to navigate the complexities of the crypto market. Additionally, Quidax, which some have dubbed one of the best cryptocurrency trading platforms in Nigeria, offers a secure wallet feature so users can safely store their crypto assets and track their portfolio in real time.
Two months ago, as part of its accelerated regulatory incubation program (ARIP), the Nigerian SEC granted provisional licenses or “Approval-in-principle,” to Quidax and Busha, another cryptocurrency exchange. Quidax is the first cryto firm to be licensed by SEC.
9. GetEquity
GetEquity is a digital asset trade platform that helps individuals, organizations, and investors find, fund, trade and sell digital assets easily. it is a fintech platform that simplifies access to startup investments. It allows Nigerians to invest in promising African startups from early stages to IPOs. Through GetEquity, users can browse and invest in vetted startups, supporting innovation and gaining early equity positions in high-potential companies.
This can be a higher-risk investment approach, as startup ventures tend to be more volatile, but it offers the potential for substantial rewards.
The app also provides access to venture capital (VC) and startup financing options, making it a unique choice for those interested in venture investment. Per the company’s website, GetEquity also offers commercial papers, real estate projects, and mutual funds.
With GetEquity, you have access to startup financing and venture capital without stress.
10. Bankly
Bankly is a comprehensive financial platform that offers more than just savings. With the launch of Bankly InvestPro, users can earn up to 35% interest on their first investment. This app caters to everyone—from those looking for safe, short-term investment options to individuals wanting long-term growth. Bankly also combines savings with financial tools that let users track their progress, make transfers, and handle bill payments. Plus, it boasts bank-grade security and is designed for those seeking stability and top-tier returns on their investments.
11. Crowdyvest
Crowdyvest is an investment platform that funds impact-driven projects across various sectors, such as agriculture, real estate, and transportation. It provides a unique opportunity for Nigerians who want to support social and economic development while earning returns.
Crowdyvest is a community-centered platform that allows users to invest in vetted projects that create financial and social value. It is ideal for individuals who prioritise impact investing. Crowdyvest offers transparency and competitive returns across its three portfolio options. The minimum investment requirement is ₦20,000.
12. Carbon
Carbon is a quick loan app for people who desire to take a loan; salary earners are the most preferred. Though it is a loan app, it has an investment feature that allows you to invest your money and earn an accrued profit. The investment app is called PayVest.
Payvest is a great choice for beginners or those looking for straightforward fixed-income investments. Their offerings come with competitive interest rates, making it easier for individuals to grow their wealth without the need for extensive financial expertise. The platform’s simplicity and ease of use make it an excellent entry point for new investors.
You can invest between ₦10,000 and ₦10,000,000 with up to 16% interest and also track your investments and spending using the app. You can download the app from their website or the Google Play Store.
Wealth ng offers an array of investment opportunities, including fixed income securities and mutual funds. One notable feature is the platform’s emphasis on financial advisory services, making it suitable for investors who appreciate personalized guidance. Additionally, they provide competitive interest rates to help your investments grow steadily.
14. FarmCrowdy
FarmCrowdy takes a unique approach to investment by connecting investors with the agricultural sector. Investors have the opportunity to fund various agricultural projects and, in return, earn returns through the sale of farm produce. This innovative platform not only provides a source of income but also contributes to the growth of local farming communities.
15. Afrinvest Plutus
Afrinvest Plutus offers a comprehensive array of investment options, including fixed-income securities and mutual funds. What sets them apart is their dedication to providing tailored investment solutions that align with your financial goals and risk tolerance. The platform’s commitment to personalized advisory services ensures that investors receive expert guidance to make informed decisions, making it a preferred choice for those who seek a more hands-on approach to their investment
16. Investment One
Investment One, a financial institution with a strong reputation, offers a wide range of investment services, including mutual funds, real estate investments, and fixed-income securities. Over the years, the platform has consistently delivered competitive returns, making it a reliable choice for long-term investors who seek stability and growth. Investment One Capital Management is an affiliate of the Investment One Group, it provides specialised investment banking and financial advisory services to clients in the private and public sectors, its services include debt issuance/capital raising, financial advisory, portfolio management, real estate, and research. Investment One Capital
18. Meristem Wealth Management
With a history of providing competitive returns to its clients, Meristem Wealth Management offers a range of investment solutions, including mutual funds and fixed-income securities. Their commitment to excellence and a strong track record in the Nigerian financial market make them a reliable choice for investors seeking growth and stability in their portfolios.
This is an investment platform designed for long term wealth. Their products are designed for people who are looking for long-term growth. Whether the investor is starting with ₦50,000 or ₦5,000,000, they are there to help him/her invest your money. Investors can earn up to 21% interest rate per annum.
Key considerations when choosing an investment platform
The following are factors to consider when choosing an investment platform in Nigeria:
Security and regulation
When choosing an investment platform, ensure it has the security protocols to safeguard your investment. Additionally, confirm that the platform is registered with relevant regulatory authorities like the SEC and CBN.
Fees
Different platforms have varying fees, such as transaction, management, and withdrawal charges. Review these costs, as they can significantly impact your investment returns, especially if you plan to transact frequently.
User experience
A user-friendly platform can make your investment journey smoother, especially for beginners. Look for platforms with intuitive interfaces and reliable customer support.
Investment options
Diversification is key in investing. Based on your financial goals and risk tolerance, choose platforms that provide access to various asset types, such as stocks, bonds, mutual funds, or even cryptocurrencies.
FAQs about investment platforms in Nigeria
What is the best investment platform in Nigeria?
The best platform depends on your goals. Bamboo or Chaka are ideal for US stocks, while PiggyVest offers additional savings features. Quidax is suited for cryptocurrency enthusiasts.
Are these investment platforms safe?
Yes, each platform is regulated. However, investing always carries risks. Review each platform’s policies and understand the terms before investing.
Can I invest in foreign stocks from Nigeria?
Yes, platforms like Bamboo, Chaka, and Trove allow Nigerians to invest in foreign stocks right from Nigeria.
What are the fees associated with these platforms?
Fees vary by platform. For platforms offering foreign investments, look out for management, transaction, and currency conversion fees.
Bottom Line
Investment is gaining momentum in Nigeria. Through these investment apps, individuals now have access to high-end investment opportunities that they ordinarily will not have access to. This means that irrespective of your income, age, or social status, you can now invest freely at will.
When choosing a platform, consider security, fees, user experience, and available investment options. The right choice will align with your financial objectives, risk tolerance, and preferences, enabling you to grow your wealth confidently. Remember that investing is one of the ways to build wealth and the best time to start is now.
Victor Okonkwo is an educator and entrepreneur
