Tech in Africa
It’s interesting how a rise in COVID19 cases over the past 4 months have ushered in a new investment frenzy. Investing does not seem reputable among the younger generations and most of the consensus is its association with the wealthy.
Investing has become remote given the wealth of apps that offer investors an opportunity to pool their resources and make money out of investment algorithms or market trading. The pandemic has forced most businesses to shut forcing people to confine themselves indoors.
In 2020, most people have been forced to remain indoors due to quarantine and lockdowns. That means many were confined indoors without much to do and a lot of free time in their hands. That inspired an adventurous spirit among some Africans to explore micro-investing.
A lot of uncertainty remains around the return of normalcy, prompting many to explore ways of expanding their income pool without risking it all outside. Some are exploring avenues such as forex trading. With more computers and smartphones at homes, the continent can only expect increased adoption of micro-investments. Micro-investments involve small sums of money, thus appealing to lots of Africans. If done right, the micro-investments can act as a way of securing long term income. Among the top micro-investment options are; Robinhood, Acron, and M1 Finance.
Editorial note: Opinions on this article were borrowed from Finance Magnates
