Bamboo Global Inc (“Bamboo”), one of Africa’s leading online brokerage firms, is excited to announce its Launch in South Africa.
Bamboo’s investment platform offers smarter investment options for all South Africans, making investing simple, accessible, and affordable.
Invest Bamboo (Pty) Limited, is approved and listed as a Financial Services Provider (FSP) by the Financial Sector Conduct Authority (FSCA).
Commenting on the expansion, Richmond Bassey, Bamboo CEO and Co-Founder said, “We’re excited to introduce our services in South Africa finally.”
Bassey added, “One of our founding missions is to help Africans from all walks of life to build sustainable intergenerational wealth. Our goal is to create an easy and secure way for everyday Africans to invest in the US stock market, and eventually, in all types of asset classes.”
But Why South Africa?
With a working-age population of over 40 million, and 66% under the age of 35, South Africa’s young population presents major opportunities to develop for a new generation of young investors.
This demographic represents a significant portion of the market that can benefit from the financial empowerment that Bamboo offers.
South Africa’s youth are poised to drive the future economy, and Bamboo is committed to supporting their financial growth and investment knowledge.
“South Africa has also historically been one of the more investment-forward countries in the African continent, with the Johannesburg Stock Exchange (JSE) All-share index historically outperforming other emerging markets,” Bassey explained.
He added that South Africa has advanced regulatory frameworks designed to protect investors, making it an ideal location for Bamboo’s expansion in the continent.
Investing in the U.S. Stock Market
A study done by Daily Investor in 2022 revealed that South African investors have identified international shares as their preferred option for growth.
Bamboo caters to these investors by bridging the gap between South Africa and the US stock market and making investing easier and more accessible to everyone.
The U.S. stock market stands out as one of the largest and most liquid globally, boasting a staggering market cap of $25.5 trillion across the NYSE and NASDAQ.
Added Bassey, “*Notably, these markets have yielded significant returns, as evidenced by companies year to date returns such as Nvidia (238%), Abercrombie and Fitch (260%), Meta (194%), Amazon (80%), and Microsoft (57%). By extending its reach into South Africa, Bamboo opens up avenues for local investors to tap into these potentially lucrative opportunities.”
Not Just An App
Dani Catellè, Bamboo South Africa Marketing Head, emphasised, “Bamboo is more than just an app; it’s a community that embraces inclusivity and supports new investors.”
Catellè added, “Our educational resources and engaging tools empower investors to confidently navigate their investment journey.”
Educational Tools and Community Support
Bamboo is committed to educating new investors, with nearly 75% of its users in other regions being beginners.
The company offers a comprehensive suite of educational tools, including:
- Stock Market Course: A 19-episode video series covering investing in U.S. equities.
- Bamboo Bootcamp: West Africa’s largest investment event, with over 14,000 registered attendees.
- Bamboo newsletter and webinars
As South Africa’s youthful population paves the way for the future economy, Bamboo says it’s ready to support its financial growth and investment knowledge, ensuring that the benefits of global markets are accessible to all.
