• Friday, March 29, 2024
businessday logo

BusinessDay

InfoWARE launches Grow My Kudi for investment enthusiasts

InfoWARE launches Grow My Kudi for investment enthusiasts

Nigeria’s financial technology provider InfoWARE has launched a new software called Grow My Kudi, an interactive platform for students, stockbrokers and investment enthusiasts who want to explore real-time market data to virtually invest and place trades.

According to InfoWARE, Grow My Kudi is a new and innovative simulation and gaming platform that will educate users on how to build an investment-based portfolio, get investment education, execute market orders, get investment education, and access a community of traders.

The platform can also assist professionals in simulating trades by virtually executing market orders before going to the market with real cash.

“We believe Grow My Kudi is a revolutionary platform that is going to help Nigerians and Africans gain the skills they need to successfully tackle economic and capital market challenges such as lack of financial inclusion, lack of innovation, capital market participation and the institutional knowledge gap,” Uwa Agbonile, CEO of InfoWARE Limited, said in his opening address at the launch of the App in Lagos.

Agbonile said using Grow My Kudi’s integrated sophisticated tools can provide an avenue to encourage a no-risk approach to learning and investing using real-time market data from InfoWARE and the Nigeria Stock Exchange (NSE).

Agbonile noted that GrowMyKudi will also serve as a platform for FinTechs to innovate and build their own independent platforms and hopefully serve as a springboard for innovation between FinTechs and the investing public.

“Grow My Kudi and the InfoWARE market data terminal will also contribute to deepening market penetration and ultimately improve investment and financial inclusion in Nigeria,” Agbonile said.

The launching of GrowMyKudi also provided a platform for panel discussion on addressing Fintech and Capital Market challenges such as lack of innovation, market confidence, access to data etc.

Femi Balogun, Head of Department, Market Services at NSE said the first step in trading in the capital market is education which involves understanding what investments or financial assets really means and the risk involved in doing investment which platform like Grow My Kudi offers.

Balogun noted that Nigerian stocks are not as risky or dangerous as it simply because we don’t have the right hedging strategy yet.

While narrating her experience using Grow My Kudi, Minomi Ogbe, a Digital Communication expert, said apart from the fact that it’s very simple; Grow My Kudi is a very easy platform for users to understand and communicate with.

Also, Ajibola Bolaji, a student of Ambassador Senior Secondary School, who is familiar with the platform, said using Grow My Kudi will help people learn the importance of investment, why they need to investment and how to take a calculated risk.

Opeyemi Afonja, manager at Stock Brokage Solution said portfolio managers need to educate themselves on how to expand profit by going out there to acquire skills needed for their day to day operations.

“When it comes to investment, technologies like InfoWare have help millennials not to lose too much,” Afonja said.

Faculty members from the Pan Atlantic University engaged the panelists with their questions during the question-and-answer session. Also present at the event were representatives from Alpha Morgan capital, Vetiva Securities, and InfoWARE’s team along-side millennials who registered for the event.

Benedicta Omoruyi, Team lead Corporate Innovation and Strategy at InfoWARE, did a live demo of the innovative product and concluded by emphasizing the importance of Grow My Kudi platform.

“This is just the beginning of great things to come from InfoWARE. With our upcoming InfoWARE EMSX platform, we will provide a single unified platform Application Programming Interface (API) for local, institutional investors and Fintechs to trade via any broker,” Agbonile, CEO of InfoWARE said.