Africa’s first treasury bills investment app, I-invest, has generated about 2 Billion Naira worth of investments from its active users in less than 6 months. The Nigerian company, Parthian Partners, developed the investment app which does not only facilitate investment in treasury bills but also helps to foster a savings culture, has said that it has doubled its one year target in less than 6 months.
Speaking from their Ikoyi Office, Oluseye Olusoga, the CEO of Parthian Partners, said “We are happy that we were able to make this much of an impact at such a short time. This helps us solidify our goal of playing our part in building Nigeria’s economy. The more people invest with the app, the bigger the money market becomes. This he believes is a step in the right direction although It will take some time to make a more significant impact”
The app essentially functions as a platform with a structure that allows investors to make payments into their virtual wallets either by direct transfers or with the use of a card from where investments can be made. It is important to mention that all the investments are held in safe custody by a licensed securities custodian which effectively protects all investments made by the investors on the app. The app is also under the purview of the Securities & Exchange Commission.
Segun Oluyomi, a user of the app made a comment about the app saying “At a time I was searching for an app I could use to save and I came across I-invest. I found out that you can invest with the app in treasury bills. It helps me save and also gives me interest on my savings. That’s where all my spare cash goes into now.”
As most of us know, treasury bills are government guaranteed debt instruments issued by CBN on their behalf to finance expenditure. The CBN also uses treasury bills to control the money supply and flow in the economy.
Treasury bills are low risks instruments which are backed by the full faith and credit of the Federal Government of Nigeria and offers up to 12% returns or even as high as 14% depending on the tenor when you invest with the app. This is one of the main reasons why Nigerians are using the app, it not only offers risk-free investments but also boasts of competitive returns compare to your traditional savings account.
Currently, the app also boasts of over 60,000 downloads with approximately 30,000 registered users and as promised that in the coming months, the platform is expanding more investment opportunities.
The i-invest app is available for download on both the iOS App Store and Google Playstore and with a minimum of a Hundred thousand Naira you too can be on your way to your first treasury bills investment.
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