• Tuesday, July 23, 2024
businessday logo

BusinessDay

Altinvest expands investment portfolio with new gold product

Altinvest expands investment portfolio with new gold product

Altinvest, a digital investment product of The Alternative Bank, has announced the launch of precious metal-gold investment on its digital platform which is investors’ alternative asset.

The firm said in a note that this is in response to the growing demand for alternative investment assets and a diversified portfolio for investors.

Mohammed Yunusa, director of digital business and innovations at The Alternative Bank, while speaking during the launch in Lagos remarked that the demand for a varied portfolio by its consumers led to the inclusion of gold investment offerings in the array of Altinvest’s existing portfolio.

“We are thrilled to announce the availability of Gold on the Altinvest app,” Yunusa said, adding that it has become clear that more retail investors are drawn to the possibility of investing in gold since it is low-risk and extremely profitable.

“We have made this feasible by selling actual physical gold that can be delivered to everyone when they need it at competitive rates and, more importantly, securely on our Altinvest app.

“This exciting development reaffirms our commitment to guiding our investors on the right track on this journey of building wealth without compromising on their ethics or beliefs,” he said.

Read also: Our priority is to ensure that digital businesses are secure and safe on the internet- Ogungbe

Gbenga Awe, group head of Agric Finance & Solid Minerals, The Alternative Bank said “Gold, being the world’s oldest form of currency is a great addition to investment offerings for our customers, and by launching it on the digital platform, we have made it simple to acquire and accessible to all with a smartphone device.

“Our priority is to drive mass adoption of this commodity at affordable ticket sizes,” he said.

He stated that someone can acquire as little as 1 gram of gold at the best rates on Altinvest and be issued a certificate of ownership which makes the person the owner of a piece of gold.

Altinvest, a digital investment product of The Alternative Bank, the non-interest arm of Sterling Financial Holding Company, is known for offering its investors access to investment opportunities.

Read also: ‘Every enterprise should run as digital business’

Capital appreciation, and supporting economic activities directed toward inclusion, growth, and development without compromising their ethics.

During the live demonstration of the app, it was stated that Altinvest also allows users to track the performance of their gold investments in real-time.

“Users can use this feature to track the market value of their investments and make informed decisions about buying or selling.

“The investment app was said to also provide a variety of additional investment alternatives, such as Sukuk bonds and real estate investments, providing investors with a varied selection of investment options to choose from.”