Investment advisor Waanzilishi Capital Limited has rolled out an online investment platform that will allow ordinary Kenyans to invest in local and international financial markets digitally.
The Ndovu platform offers customers personalised financial advice, access to low-cost, globally diversified portfolios as well as financial education.
The service, which is regulated by the Capital Markets Authority (CMA), allows customers to invest as little as Sh5,000 ($44) in local and global investments such as US stocks and index funds.
Through the platform, a customer can open an account by signing up on the platform unlike traditional investments that require lengthy paperwork.
Under the basic subscription plan (which is the lowest investment of Sh5,000), a client will be charged an annual fee of one percent of the portfolio value.
In the premium plan (whose minimum investment will be Sh113,550, ($1,000)), a customer will pay a fee of 0.75 percent yearly fee.
The Ndovu app is part of a global trend to automate and simplify investments for masses using technology. Traditionally, international investments have required individuals to have a high net worth and use advisors charging significant fees for their services.
“At Ndovu, we are playing a key role in financial inclusion by opening up the previously-gated financial markets to all,” said Gianpaolo De Biase, a co-founder of Waanzilishi Capital.
“We are also demystifying investments by breaking down financial jargon with an easy-to-use platform.”
