Online multi-asset investments platform Ndovu launches in Kenya
The platform which is available as a mobile application allows users to access both domestic and global financial markets and requires a minimum investment of Ksh.5,000.
The app is run by Radhika Bhachu, a former executive at BlackRock, the world’s largest asset management firm.
According to Ms. Bhachu, Ndovu, founded in 2020 was born out of the realization of the complexities of current investment options in Kenya including limited market access and high management fees.
“Our idea was born out of our passion to improve financial lives across Africa. Our vision is to provide every African, regardless of income level or financial knowledge, with the right tools to grow their wealth. We believe educating our people on how to make their money work for them will bring us one step closer to reducing poverty on the continent," she said.
The application has received undisclosed pre-seed funding from 4DX Ventures, Plug and Play Tech Centre, Future Africa and Oui Capital.
Ndovu plans to reach over one million users in the next year in a plan that includes regional expansion.
The platform allows users access to multiple assets including government bonds, unit trusts, equity exchange-traded funds (ETFs), bond and commodity ETFs.
It also offers personalized financial advice on investment portfolios to pick, dividend reinvestment and financial education.
Ndovu is regulated by the Capital Markets Authority (CMA) and was previously piloted in the regulators sandbox ahead of launch.
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