Bamboo—a startup that offers companies shares investment opportunities in Nigeria—has announced launch of services in South Africa. The platform launched in SA for the purpose of letting South Africans to access global US-listed stocks through fractional investing with as little as ZAR150.
In addition to that, Bamboo—an investment platform that gives Africans the tools to build wealth from the ground up through real-time access to the global markets—will be breaking down the traditional barriers that have long kept everyday investors and traders out of international markets in South Africa.
According to Yanmo Omorogbe, co-founder and chief operating officer at Bamboo, people in Africa are starting to change the way they think about growing their money and investing.
South Africa is seen as a very important place to help more people get access to financial services, like investing and saving, especially those who haven’t had those opportunities before.
We’re witnessing a fundamental shift in how Africans approach wealth building, and South Africa represents a critical market for financial inclusion.
Yanmo Omorogbe.
This Bamboo expansion into South Africa targets first-time and middle-income investors, giving them the opportunity to invest in U.S. stocks starting from ZAR150, with fractional investing options.
Users can create accounts using their South African Identity Number and fund their wallets via local currency cards, with instant currency conversion handled by a partner.
The platform also offers bank-level security, including state-of-the-art data encryption and two-factor authentication (2FA), backed by top financial market operators in the country.
Bamboo—founded in 2019 and a Y Combinator alumni—operates under Invest Bamboo (Pty) Limited in South Africa with a registration number 2013/147439/07. The company is an authorized financial services provider (FSP 47614) under the Financial Advisory and Intermediary Services Act 2002.
Bamboo South Africa office is located at 24 Cade Street, Southcrest, Alberton, Johannesburg, Gauteng 1449, South Africa. U.S.-traded securities are provided by DriveWealth LLC, a U.S. SEC-registered firm and member of FINRA and SIPC, giving ensured security with insurance up to $500,000.
