Bamboo, an online stock platform based in Nigeria, has launched operations in South Africa, enabling users to invest in US stocks directly from their smartphones. This expansion follows the startup’s acquisition of a financial services provider license from the South African Financial Sector Conduct Authority (FSCA).
Richmond Bassey, Bamboo’s CEO and Co-Founder, emphasized that South Africa has historically been one of Africa’s most investment-forward countries.
He noted that the Johannesburg Stock Exchange (JSE) All-Share index has consistently outperformed other emerging markets. South Africa’s advanced regulatory frameworks, designed to protect investors, make it a favorable market for Bamboo’s expansion.
Bamboo now operates in three African countries, including Ghana and Nigeria.
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