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HASAN LUONGO: Chipper’s fractional stock investing product is smashing the barriers of accessing global investment opportunities Fresh from launching their two-way money remittance offering between Africa and the United States of America, last October, Chipper Cash, one of Africa’s fastest-growing fintechs has launched its Global Stocks Investing product. Launched in partnership with DriveWealth LLC, a US-based pioneer in fractional investing and embedded finance, the product enables Ugandans or Uganda residents to safely and affordably invest in major U.S stocks. Starting with as little as the equivalent of USD1 and up to USD3500 via their mobile money wallets that are linked to the Chipper Cash App, investors can invest on a dollar equivalent basis (i.e., fractional shares) in over 6,000 U.S. securities and Exchange Traded Funds (ETFs). In this slightly edited speech delivered at today’s breakfast launch at Kampala Serena Hotel, Hasan Luongo, the VP, Global Marketing speaks about how Chipper is “smashing the barriers of accessing investment opportunities.”
Luongo says that over and above Chipper’s fractional stock investing product launched this morning, Chipper has been making great moves in expanding access to critical financial services to millions of more people. For example has just launched two-way payment flows between the USA to Africa, and the UK earlier in the year. Among other unique products, he also said that the company has also gone live in South Africa with free unlimited person to person payments, as well as just launched the Chipper Card in partnership with Visa in Nigeria. “And we’re just getting started,” he said.