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.
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Wow. This is a lot. I never really thought in this direction. Thank God the Cowrywise growth team monitored this and pulled the plug before it got out of hand?
Thank you so much Growth Team at cowrywise. For someone in marketing this is so useful. In whatever marketing or growth strategies, think long term, think company’s value system.
I have learnt so much from this…
Thank youuuuu
Thanks for this,I really appreciate the insights.
Great insights.
However, I think the referral system you adopted itself has clear loopholes.
It is like saying, “lend us N500, we’ll give you N1000 extra.” I’m I missing something?
The user has not taken any tangible action, at least to show candid interest in your app.
Kudos to your team, I can imagine the rise and damp of your heartbeat.
Bravo!!
Cowrywise is a brand I truly love. The authentic way of following up all of this metrics to keep a great experience is really what makes me keep staying on the platform. Kudos to the cowrywise team ??
Very insightful piece!
This is very profound report, thanks for sharing
You indeed have a wonderful team thanks a lot for keeping this long-term investment platform alive for the future is still brighter