Online brokerage firm Bamboo has announced an exciting expansion of its investment offerings by introducing Nigerian stocks on its platform.
This development opens up new opportunities for Bamboo users, granting them access to local equities and expanding their investment horizons to include the Nigerian capital markets.
Richmond Bassey, the Chief Executive Officer and co-founder of Bamboo highlighted the significance of this new offering. He expressed great enthusiasm about the potential of Nigerian stocks to deliver exceptional returns on investment.
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Enhancing Portfolio Diversification with Local Stocks
Bassey emphasised that this move will allow investors to diversify their portfolios more effectively. “We’re thrilled to launch Nigerian stocks on the Bamboo platform finally. Among our investors, local stocks are by far the most in-demand asset class, and it’s clear why: the NGX delivers outstanding ROI and allows investors to diversify their portfolios,” he stated.
Bassey also pointed out that Nigerian investors have a deeper understanding of local stocks, as they are more familiar with the products and services of the companies listed on the Nigerian Stock Exchange. This familiarity, combined with the affordability and accessibility of these stocks, makes them an attractive investment option. “Not only do Nigerian investors understand local stocks better since they use these products and services daily, but they are more affordable and accessible. We’re incredibly proud to play a role in deepening African capital markets, starting with Nigeria,” Bassey added.
Industry leaders embrace Bamboo platform
The launch of Nigerian stocks on the Bamboo platform has been met with positive reactions from industry leaders. Dr. Haruna Jalo-Waziri, an official of the Central Securities Clearing System Plc, acknowledged the significance of Bamboo’s initiative in advancing market accessibility. “As we witness the launch of Nigerian stocks on the Bamboo platform, we congratulate them on this milestone and will continue to support innovations that enhance investor experience and grow the capital market,” Dr Jalo-Waziri commented.
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In addition to the praise from Dr Jalo-Waziri, Tunde Lemo, Chairman of Lambeth Capital, has also lauded Bamboo’s efforts. He emphasised the potential of the Nigerian economy and the importance of enabling individual investors to tap into this vast potential. Bamboo’s initiative facilitates greater market participation and contributes to the overall growth and development of the Nigerian capital market.
Bamboo’s introduction of Nigerian stocks on its platform marks a significant step in providing retail investors access to local equities. This move enhances portfolio diversification and deepens the African capital markets, starting with Nigeria. With support from key industry leaders, Bamboo is well-positioned to continue driving innovation and growth in the investment landscape.