Fintech startup Hisa has launched an application that allows Kenyans to invest in the stock market directly from their phones using mobile money.
The Hisa App has been in beta version for the last 10 months and has now gone live for use by the general public. The company believes it heralds a new dawn for those interested in stocks and other investment opportunities. The app allows anyone in Kenya to invest in listed companies.
“Today, we are very excited to launch Hisa which will allow Kenyans to invest and build wealth with minimal investments. Through Hisa anyone in Kenya can invest in their favourite companies such as Safaricom, KCB, Equity, Tesla, Apple, Microsoft and many more,” said Erick Asuma, Co-Founder and CEO.
The multi-faceted investment platform also helps users to follow discussions, read the latest business and finance news from reputable media partners, get real-time market updates, learn from experts and listen to podcasts on topics ranging from technology, and personal finance as well as interviews with thought leaders.
The company received regulatory approval from the Capital Markets Authority(CMA) and will be working closely with the Nairobi Securities Exchange (NSE) to unveil the fractional investing of Kenyan stocks.
“Hisa aims to democratize the Africa retail investment space, which suffers from limited investment options, lack of information and very low financial literacy levels, through micro-investments,” the company said in a statement.
Eric Jackson, Co-Founder and CTO said that the company aims to empower Africa to be financially independent by providing simplified investment solutions and educational content. Jackson said in the 10-month period the company was in beta version, its user base grow to over 10,000 active users.