Cowrywise and Meristem Wealth Management Limited recently agreed on an important partnership. This partnership makes it possible for millions of Nigerians to gain access to affordable mutual funds with as low as NGN1000.
This alliance will blend over 15 years of investment experience from Meristem and the nimble nature of Cowrywise; the only African firm on the list of 50 global startups to watch out for in 2018. Mutual funds to be retailed through this partnership are the Meristem Money Market Fund and the Meristem Equity Market Fund.
Expressing his expectations of this partnership, Razaq Ahmed, CEO/Co-founder, Cowrywise said: “We are assured that with this partnership we’ll be unlocking a new channel to fill in the gap of wealth-building for the mass market. A gap that has been previously dominated by Ponzi schemes and has caused indescribable pains to Nigerians.”
In the same vein, Taiwo Yusuff, CFA, Head of Asset Management, Meristem Wealth Management Limited, had this to say, “Right from the onset, we have been focused on reshaping the Nigerian investment space. With a unique array of products, in the past 15 years, we have been able to keep up with this goal.
Hence, we see this partnership with Cowrywise as a deepening channel for our reshaping goals and our commitments to financial inclusion. It is quite exciting to us, as a team, that our products will now be available to everyone at just NGN1000; we see that as a significant move that will help take participation in the industry to unprecedented levels.”
Settling any worries about disproportionate experiences, Meristem also stated that the sterling experience it offers will not be altered with this retail offering. The overall goal of this partnership, which will involve other top players in the industry, is to ramp up the number of mutual funds’ investors from about 400,000 to over 10 million by 2025.
About Meristem Wealth Management
Meristem Wealth Management Limited (MWML), the first and only GIPS-compliant wealth manager in Nigeria, was incorporated in August 2008 and registered as a Fund and Portfolio Manager with the Securities and Exchange Commission (SEC). Its assets under management (AUM) have grown consistently over the years and were in excess of 190 billion Naira as of December 2018.
Media Contacts
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Wow! This is well explained.
Thank you for the clarifications. You guys are truly reflecting your core values. Good job!
Please do not go ahead with the mandatory 24 hours wait period during the withdrawal from stash to a personal bank account
It is too much of an inconvenience to be a feature. Please do reconsider.
Some of your competitors do not have this restriction in place
It would be very much appreciated if this can be an option we users can select in terms of security
Good , my very concern is that I have been using Cowrywise in order to discipline myself in saving for my yearly house rent now that am in need of fund , hoping of transferring from stach to my bank account
My concern now is how much can someone withdraw from stach account without flagged , currently am in emergency and the only hope is Cowrywise
Yeah, the 24hrs is not bad but at the other hand, 24hrs withdrawal in case of emergency will be the worst thing so far because nobody knows what is going to happen in the next few minutes or even seconds
I think your suggestion is very okay by me.
I really enjoyed the short brief lecture but still hoping on the higher investment like the bill gate etc.risky I think
Wow I think I love this app my first time to save money in cowrywise i will trust them
Excellent article, investment lifecycle gibberish on cowrywise was well explained ?
The ideal of 24hr waiting time to withdraw from stash is still not explain here, even though u said it might be inconvenient for a short time but on the long run the customer will appreciate it doesn’t answer the question of why the long time (24hr) withdrawal will be appreciated.
What is the sole reason for 24hrs delay, even if my fund are in the care of third party custodian. What are modality of updating withdrawal time of 24hr when I can make a withdrawal in few minutes. It still not clear.
I believe we are supposed to be going forward here, not back ward. Technology is advancing that why we on the era of 5G.
Pls it doesn’t sound healthy.
Really good, have been using cowrywise pass a year and I don’t know issue with my investment acc, but last month on my willdraw date I willdraw to stash and instead for me to press transfer to bank account I mistakenly press transfer to plan, so painful because the money was refunded to the plan and i have planned on the date already, well that is on that, I just want to say you should keep Doing good work , helping us to do it well on the plan account,leave the willdraw date for us , where by if we mistakenly resend back the to plan please let us be able to willdraw back to stash at desame day . Thank you
Love this application
Cowrywise to the world✈️✈️
You guys are really doing a great work out there?…keep it up?
Wow. I think with this explanation, I’m getting somewhere
This is smart! Thank you cowrywise for your services, it’s 100%
A write up of how cowrywise is just an investment company and not a bank.
You kept repeating you are not a bank but an asset management…were you bank 3 or 4 years ago that i have been using cowrywise and there was instant withdrawals. I really do appreciate cowrywise because I have really cultivated the attitude of saving but am not cool with this recent development. There’s a reason for locking my savings to a particular day.
Keep up the good work
The investment part is well explained, thank you cowrywise for always doing a good job, however the reason for the 24-hour window for withdrawal is still not explained here. Withdrawing from stash should be quick as possible, at max should happen the same day. You say we shld plan ahead, we never can tell what may come up.
24-hours is a really big deal.
Insightful, I think you are doing really great.., thank you for always
Keep up the good work .
I like the investment
Appreciation to the detailed article,however the 24hours new approach on withdrawals may not be ideal for emergencies. Kindly take a second thought on this even in the midst of risk exposure. Thank you
Thanks for your help Cowrywise I have been using for a year and I have no problems, please keep up the good job?
But the ideal of 24 hrs honestly I don’t like it, I noticed it today when I make a withdrawal from my stash , please it’s so embarrassing
I beg you see to that.
I really don’t like that 24hrs withdrawal because the date I’m to withdraw my funds I know why Input that date there why must it be 24hrs I don’t accept this one
Honestly this 24 hours withdrawal is not making any sense to me.I have been using this app for the past 4 years and why I feel comfortable with it is because once withdrawal is made it’s being credited asap so you have nothing to worry about and that’s how I was able to invite others to join because they know they can access their funds asap .
Hello Guys,
I appreciate you guys alot. Been using cowrywise i think about 3yrs now.
This idea of 24hrs in stash is not buyable . I set the date for a particular reason. Kindly review.. i should be able to use my set saving on the proposed date set.
Thanks
U guys are so amazing Thank alot?this app is good
Keep up the good work