Nigerians are looking for good investment apps, platforms and portfolios to secure their hard-earned money in a macroeconomic climate that is witnessing its worst trend in ten years, according to important economic data and indices.
According to the CBN, Nigeria’s annual inflation rate hit 21.91% in February 2023, exceeding market predictions of 21.85%. The purchasing power parity in Nigeria makes the exchange and poverty rates depressing.
Nigerians are diversifying their capital in order to generate future profits that are unaffected by the economy’s depreciation as a result of rising costs.
People are becoming increasingly concerned about their riches and future earnings.
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As a result of the increased need for investment platforms, dependable and efficient platforms have emerged and are now a vital part of most Nigerians’ everyday lives. A plethora of investing platforms, including Bamboo, Piggy Vest, Cowrywise, and others, have evolved throughout the years.
1. Pillow
Pillow Fund is a financial services organization founded by Pillow Fund in Africa with the sole purpose of providing Africans with a trustworthy means of saving and growing their wealth.
The company has established a market presence in Nigeria, the largest economy in Africa, with a variety of products and services that enable customers to earn interest on their deposited assets while actively addressing the rising cost of living.
Pillow was launched in February 2022 by Pillow Fund to expedite and simplify saving and investing by enabling users to save in dollar-based digital assets. The investment platform provides customers with the opportunity to earn up to 14% interest on their funds.
Pillow facilitates home-based investments in USD-backed securities. It is one of the few investment applications that pay consumers daily interest. In addition to USD-backed cryptocurrencies, users can invest in Bitcoin, Ethereum, and other prominent cryptocurrencies. As interest grows in crypto investments, users can withdraw whenever they like.
The application has over 75,000 users in more than 60 countries. It supports Bitcoin, Ethereum, Solana, Polygon, Axie Infinity, USDC and USDT, which are USD-backed stablecoins. It has over 100,000 downloads on the Google Play Store and a rating of 4.4/5 stars since its release.
Nigerians like the app’s simplicity. It’s been called a “lifeline” in tough financial times by some users. Pillow also works with Nigerian and African financial gurus and consultants to provide financial education.
2. Accrue
Accrue is a digital investment platform that employs dollar cost averaging to assist consumers in investing and growing their wealth to reach their financial goals and objectives, with as little as $1 and the opportunity to earn daily interest (up to 6% annually).
Accrue aspires to democratise stocks and crypto. It aims to reduce barriers and expand access to cryptocurrencies’ benefits for common people. The app has 4.0 ratings on Google Play. Accrue automates investing in top equities and cryptocurrencies with little risk and high success. This programme allows cryptocurrency investments to increase wealth.
Customers also have the option of monitoring stock prices, their overall investment portfolio’s success, and the status of their wish lists, which they can use to add desired products.
To create a free account, all you need is your email address and a secure password. By choosing the “Start investing” tab, you can start an investment strategy. The homepage has a tab where you can enter your account information and BVN to verify your account. This will help you prove your identity, stop online fraud, and prove you are the account owner.
3. Keble
Real estate is regarded as one of the best investments due to its low risk and favourable returns, but many young Africans lack the resources to buy or develop landed properties, a way to access the global real estate market, or the patience to wait for their investments to mature and start paying off.
Keble steps in at this point. Africans may invest in global real estate with little capital through Keble.
Keble lets customers seamlessly participate in worldwide real estate opportunities for $10. Simply sign up and browse a list of properties to invest in and their holding periods. You then buy a fraction of any property you invest in and receive predictable returns. The asset’s appreciation value is its stable return.
Keble makes real estate investing easy with $10 investments. Keble’s low entrance barrier allows everyone, especially Africans, to invest in real estate.
4. Farm crowdy
Farmcrowdy is the most reputable online platform for agricultural crowdfunding in Nigeria, bringing together farmers and sponsors (investors) interested in the sector.
The worldwide Agtech company’s business concept focuses on resolving inefficiencies in the agricultural value chain by connecting stakeholders with simple access to aggregate farm produce, inputs, and processed food.
Investors on Farmcrowdy receive bi-weekly updates for farm cycles that last six months or less and monthly updates for farm cycles exceeding six months. These updates comprise pictures, written reports, and videos showing the progress at different stages of the farm cycle.
Available on the web, the returns on investment on the platform range from a 6–25% flat rate. Its product listing includes maize, poultry farm products, cassava, soybeans, and rice. The range of costs for these products ranges from $90,000 to $284,000, and their life cycles range from 6 to 12 months.
A profit-sharing mechanism is also used by Farmcrowdy, with 20% going to Farmcrowdy and 40% going to the farmer, farm sponsor, and farm. All of the current farm projects available on this investing app are insured. so that the sponsor’s capital may be reimbursed in the event of unanticipated events.
5. Microvest
Launched in 2021, the Microvest savings and investment mobile app increases financial growth for its users by encouraging saving habits and resolving the difficulties Nigerians face when trying to save money for capital projects.
The iOS App Store and Google Play Store-hosted Microvest app is a savings platform that enables individuals to save and invest money while receiving rewards on their investments. It offers a variety of savings solutions, allowing consumers to select their desired savings objectives.
MISAFE is a flexible savings feature that enables customers to fund their wallets and build a plan. It allows withdrawals at any time and enables customers to transfer money to any bank account.
The MITARGET is somewhat predetermined in that it encourages people to save for a certain objective while rewarding their dedication. Users have access to the funds on the specified date. Withdrawals made prior to the specified deadline would incur a charge.
In addition to appreciating consumers’ continuing savings, the organisation offers competitive and excellent benefits through interest. According to the organisation, it is essential to invest one’s savings.