Nigerian finance business Bamboo, debuts in Ghana to provide access to investors

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The Ghanaian debut of Bamboo, a Nigerian fintech firm that makes it possible to buy stocks from multinational corporations, has been announced.

The firm declared its $15 million Series A round in January 2022. The business announced at the time that it had 50,000 people on its waiting list and planned to start in Ghana. The business also disclosed that it had users in South Africa and Kenya and would soon expand there.

It teamed with 10th Capital Investments before launching in Ghana. The business has additionally stated that it intends to collaborate closely with Ghana’s Securities and Exchange Commission after receiving a letter of support from the watchdog.

According to Richmond Bassey, Bamboo CEO and Co-Founder, “We believe strongly that all Africans should earn a return on their investments and build intergenerational wealth. That’s why we created Bamboo: we wanted to create an easy and secure way for everyday Africans to invest in the U.S. stock market, and eventually, in all types of asset classes,”

In a statement, Albert Asiamah, 10th Capital Investments’ COO, disclosed that working with Bamboo was a result of their experience and track record enabling investments in Nigeria.

“We’re thrilled to work with Bamboo to bring Ghanaians the opportunity to invest in the U.S. and eventually the local stock market. Their impeccable track record in Nigeria, stellar product, and educational tools make them an ideal collaborator.”

Founded by Bassey and Yanmo Omoregbe, Bamboo, together with Risevest, Chaka, and Overwood, provide Nigerians with the opportunity to own shares in global companies. Until these startups arrived on the scene, investment in companies, regardless of their location, was restricted to high-net-worth individuals. But with these startups, individuals can now invest with as little as $10.

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