Partnership empowers the Kenyan population to invest in fractional shares of U.S. equities for the first time
JERSEY CITY, N.J., (AETOSWire)- DriveWealth, LLC, a pioneer in fractional investing and embedded finance, today announced a partnership with Hisa Technologies, Africa’s first wealth management platform that makes investing social. Leveraging DriveWealth’s real-time fractional trading technology, Hisa users can invest in fractional shares of U.S. stocks, while benefiting from educational content such as news, podcasts, and user generated discussions geared toward improving financial health directly through the app.
Previously, investing in U.S. securities in Kenya required large sums of money, leaving a portion of the Kenyan population without access to investing. While citizens are interested in investing, research conducted by the Central Bank of Kenya and FSD Kenya revealed that over 43 percent of the population were either unaware of securities markets or did not understand how to invest, making investing unapproachable to the average consumer. DriveWealth’s partnership with Hisa and Faida Investment Bank is making finances accessible and approachable for all by enabling Kenyans to invest on a dollar equivalent basis with no minimum requirements in over 6,000 U.S. securities and ETFs, while providing the educational materials users need to learn how to manage their financial futures.
“At DriveWealth, we believe that making investing affordable and approachable is critical to democratizing financial services around the world,” said Bob Cortright, founder and CEO of DriveWealth. “We’re excited to partner with Hisa and Faida Investment Bank to break down the barriers to investing and create new opportunities for Kenyans to improve their financial health.”
“DriveWealth’s mission of democratizing investing really aligns with our goal to open up access to investing and promote financial education to our users,” said Erick Asuma, co-founder and CEO of Hisa and founder of leading digital content platform Kenyan Wall Street. “Our users have expressed a desire to build a financial future by investing in both U.S. and Kenyan securities and we’re excited to be meeting their needs through this partnership with both DriveWealth and Faida.”
DriveWealth’s partnership with Hisa marks an additional milestone for the company as it progresses its mission to democratize investing throughout the African continent, following DriveWealth’s recent partnership with Chipper Cash, which brought first-time access to investing in U.S. equities in Uganda, and soon in Nigeria and South Africa.