South Africa Welcomes Bamboo, Introducing US Stock Trading

Bamboo, an online stock platform originating from Nigeria, has expanded its operations into South Africa, marking its entry into a third African market alongside Ghana and its home country. This move allows South African users to invest directly in US stocks using their smartphones through Bamboo's platform, following the acquisition of a financial services provider license from the South African Financial Sector Conduct Authority (FSCA).

Richmond Bassey, CEO and Co-Founder of Bamboo, emphasized South Africa's reputation as a leader in investment within Africa, citing the strong performance of the Johannesburg Stock Exchange (JSE) All-Share index compared to other emerging markets. He noted that South Africa's robust regulatory environment, designed to safeguard investors, facilitated Bamboo's expansion strategy across the continent.

Previously, Bamboo launched in Ghana in September 2022, forging a partnership with 10th Capital Investments and gaining regulatory clearance from Ghana’s Securities and Exchange Commission. In May 2024, Bamboo further broadened its offerings by introducing Nigerian stocks on its platform, enabling users to invest in prominent Nigerian companies such as Access Holdings, MTN Nigeria Communications, Dangote Cement, and Nestle Nigeria.

Source:  Abdullah Ajibade / TechPoint Africa