Nigerian investors are increasingly favoring U.S. stocks over other assets, according to Richmond Bassey, Chief Executive Officer of Bamboo, a leading digital investment platform. The platform has become a go-to choice for retail investors seeking both local and international financial opportunities.
In an exclusive conversation with Nairametrics, Bassey highlighted that American equities continue to lead user preferences on Bamboo.
“U.S. stock is still the biggest interest for us today, followed by Nigerian stocks,” Bassey revealed. “Nigerian stocks are very much a strong area for interest as well, which is growing. But we see U.S. stocks leading.”
Fintech Is Simplifying Investment for All Generations
Bassey emphasized that fintech platforms like Bamboo are revolutionizing the traditional investment process, removing the pain points associated with legacy financial institutions. The onboarding process, he explained, is now frictionless for users across generations.
“Digital natives, millennials, even Gen Xs and boomers find opening an account easy,” he said. “The experience is what’s typically been painful in traditional investing, and fintechs are solving that.”
Diversifying Investment Options for Local Relevance
While U.S. stocks remain dominant, Bamboo has taken steps to diversify its offerings. The company recently added access to the Nigerian Stock Exchange (NGX), treasury bills, and Naira savings on the platform—giving users the flexibility to invest both locally and globally.
“Since we launched NGX on the platform, it’s something our users really love,” Bassey said. “We’ve also made treasury bills and Naira savings accessible, which is exciting because users can now invest seamlessly in both U.S. and Nigerian assets.”
Regulatory Engagement and Clear Compliance
Speaking on regulatory frameworks, Bassey praised the clarity provided by Nigeria’s Securities and Exchange Commission (SEC).
“We’re regulated directly by the SEC, and they have pretty clear guidelines for operators. It’s straightforward and effective,” he noted.
While Bamboo is not under the Central Bank of Nigeria (CBN), Bassey said the company continues to build user confidence through strong compliance and stakeholder engagement.
Driving Financial Literacy for Long-Term Impact
Bamboo isn’t just about investing; it’s about educating the next generation of financially empowered Nigerians. Bassey said the company is committed to improving financial literacy across all demographics.
“We invest heavily in educating people about their money; how to manage it, invest it, and make informed decisions,” he said. “This literacy drives investment activity and protects users from falling for scams.”
Empowering Nigerian Youth Through Technology
Bassey believes fintech will play a transformative role in helping Nigerian youth build wealth and achieve financial independence.
“The future is bright for our nation and for the youth,” he said. “With the right tools and education, we can help millions improve their personal finance and achieve lasting financial health.”
With a mobile-first approach, Bamboo has become the platform of choice for young investors, offering streamlined onboarding, a user-friendly app experience, and easy access to both international and domestic markets.
What You Should Know: Misan by Bamboo
In a significant strategic move, Bamboo recently launched Misan by Bamboo, a remittance and digital finance app, along with Virtual USD Card services across 15 key African markets.
- The launch positions Misan by Bamboo as a major player in Africa’s growing digital finance and remittance space.
- The service enables seamless cross-border transactions, addressing the continent’s demand for efficient, transparent, and secure financial solutions.
- With its Virtual USD Cards, Misan by Bamboo empowers users to engage in global e-commerce and digital payments with ease.
