
With as little as NGN1000, through mutual funds, Cowrywise is making it possible for everyone to invest in Nigeria’s most profitable firms.
Eendragt Maakt Magt, that was what the first mutual fund, established in 1774, was called. This name, a Dutch one, translates to “Unity Creates Strength”, and it emphasizes the unique ability of mutual funds to aid the everyday person with accessing premium investment options. However, in Nigeria and most part of Africa, we have not been able to harness this strength due to the lack of inclusivity of mutual funds. The impact of this exclusivity is in two folds:
- More than 400,000 Nigerians have investments in mutual funds.
- The entire mutual fund industry in Nigeria is worth just N1.52 trillion (as of July 2022)
As a team driven by the commitment to democratize access to premium investment products by leveraging technology, we have spent quality time in the past four months working with top asset management firms in Nigeria on a solution that will help tackle the following problems:
- Accessibility
- Manual investment
- Risk assessment
- Limited transparency
- Complex money language
Ultimately, we have built a platform that allows us to give access to investing in mutual funds to everyday Nigerians, thereby providing a credible pipeline to improve retail participation in the Nigerian capital market. Our mission here is to provide access to over 10 million Nigerians by 2025 to build wealth through legitimate and professionally managed investment vehicles and grow the industry’s AUM multiple folds.
We are making Cowrywise the singular source of truth for all mutual funds in Nigeria.
To have access, all you need to do is download or update the Cowrywise app on Play Store or App Store
How do mutual funds work?
Ordinarily, picking assets to invest in is an extreme sport. More often than not, you’ll get your two hands, not just your fingers, burnt. Combining this with the fact that they are not cheap, one can understand why many people stay away from investing in the stock market despite its high-earning potential.
Saving the day, mutual funds make it possible for people with little or no understanding of investment, to pool together their funds for investment in professionally selected assets at a very minimal cost. That way, you get to kill three birds, yes three, with one stone — the complex selection process of assets, high purchase prices, and neck-breaking management fees.
The challenges
Despite the evident benefits of mutual funds, participation, in Nigeria, has not just been low but limited to certain cadres of the society. In context, there are more than 400,000 mutual fund subscribers in Nigeria and the entire value of Nigeria’s mutual funds, hovering just over $2 billion, is equivalent to the value of assets under management for WealthSimple, a Canadian startup. It is safe to say that we have a long way to go.
A BusinessDay article focused on the mutual funds industry by highlighting its opaque nature. This and other challenges, like entry costs, have served as key impediments to (effective) participation.
Our all-new process, which is in line with our promise to democratize access to premium investment options, will be taking these challenges head-on, thereby making it possible for the everyday person in Nigeria to invest in multiple mutual funds right from the comfort of their phones, with as low as NGN1000.

How are we changing the game?
We have partnered with top investment houses like Meristem and Afrinvest to help Nigerians have access to multiple mutual funds all in one app. The mutual funds invest in companies like Dangote Cement, GTBank, Nestle, Total Nigeria and high-quality fixed-income securities. Interestingly, anyone will be able to access these funds transparently with as low as NGN1000.
We are also introducing a Systematic Investment Plan. This plan allows Nigerians to automate investment of fixed amounts into mutual funds over a period of time. This has been proven to be a good strategy for beating the downsides of investing.
Given that there are various types of mutual funds, we have developed a risk assessment algorithm that enables us to recommend a suitable mutual fund that suits your risk profile. Based on the results, we’ll suggest the best-fit funds and allow you to compare them properly before you make a choice. That way, you are not making an isolated or blind choice.
With these unique tweaks to the process of investing in mutual funds, we are on a mission to onboard 10 million new investors by 2025. You still haven’t invested in mutual funds? You have no more excuses, start with us today.
Download the Cowrywise app from Google Play Store or the iOS App Store and start saving and investing, or visit the Cowrywise website.
How has your experience with Cowrywise been so far? Share your story with us here. We want to celebrate you!!!
Awemazing!
There should be a clap or like option or ‘Super freaking amazing’ tab to click on after reading such a breakdown like this.
Great work!
Awesome… Love the blue fam??
Amazing job! Well done team!
I read this about 7am. A very amazing to get me fueled up for the day!!! Awesome work ?
Cowrywise for life..
Wow..this was an amazing read!!! I feel like I was literally a part of the process.
Amazing job. I’m with you guys any day anytime ❤❤
Great job by the team. We needed some kind of encouragement.
???
Waw it was amazing Gud work cowrywise team ❤
Really impressed keep up the good job.but I think there are some other things u need to add.
Cowry wise.
Used to check your website all the time for design inspiration?
This is super amazing. Good job guys
I will be part of you. Very soon!
I love as easy it is to login and the look and fill is perfect for me… My best color is blue and love the color here
This is an awesome creation. I admire your team. Great job indeed!
Wow
Am mesmerized
Hope to join this team
This is really impressive. Great work guys.
Wow! So much technicalities involved, but then I am rested assured my moneys safe! Lol..Glad to join cowrywise!
Okay Ope of cowriwise now that you guys have disturb me sotay I want to join
Great work
This is commendable work from the team. This is the kind of workspace I’ll love to be in soon. Collaborative leadership at its core. ??
Congratulations to the team for pulling this off.
It’s a pleasure to be a member here
Hope to see more improvements and most of all make more money
Amazing job from the entire.welldone!
Amazing job from the entire team.welldone!
This was so dope. Nice one to the Cowrywise team and my guy, FEYI FOR LIFE ?
Thumbs up!
Great work guys
Wow. That’s great cowrywise
I started using Cowrywise during my Youth Service in 2018 June. It has been an wholesome experience since then.
Great job to the whole team
Beautiful story telling… and great job you all have done
Awesome read. Proud-a-y’all♥️
Wow, that was a great narration, I was practically glued to my device while reading his. I felt like I was part of the Cowrywise team. Double thumbs up
well done,great team work .
I was sincerely glad to see my progress overtime presented in such an engaging manner. I even enjoyed posting it on social media and finding other friends who could relate. Thanks for sharing the story as well. Keep up the superb work!!!
Awesome. I really like how you guys explained the entire process in detail. As a programmer, I learned some new techniques. Kudos.
Mhennnnn!
Mmmmmmmmmaaaaaaaaadddddd ooooooo!
This was an amazing read.. I am a developer, currently learning React.. and seeing most of the terms mentioned gives me a clearer picture of how these technologies work in the real world..
Thanks for this article.. Kudos to your dev team.
You know what, I have always been a low key cowrywise ambassador but after reading this, I just might want to join the team full time.
This is so juicy I’ll have to bookmark this page and read it again and again!
is just beautiful weldon guys
Beautiful post and nice team you guys have. Keep it up.
This is inspiring.
Y’all are amazing..
Love this! Thank you for giving us a front seat into the team’s efforts while creating this feature. I absolutely enjoyed reading this and I’m inspired to do more with your brand. Well done guys!????
One bottle of your favourite brand to everyone at Team cowrywise…
I enjoy the write up and the regular updates.
thank you
Great piece of work guys.
The beauty of working with a motivated team from scratch
The beauty of team work and perseverance.
Your team did an amazing job ??. I learned a lot from this article.
Amazing Story
Awwwwwn
This is inspiring
Very Interesting read! Keep it up.
Thank you, Joshua!
You are doing great job, my dear Ope.
I love Cowrywise;Cowrywise forever.
We love you too!