Afrinvest, Western Union Pioneers Remittance For Investment In Nigeria

An investment management holding company, Afrinvest (West Africa) Limited, has announced a strategic integration with Western Union, a global leader in money transfer services. This integration enables Nigerians in the diaspora to remit funds directly for financial investments through the Optimus by Afrinvest investment platform.

This integration, a first for Western Union with a partner company in Africa, enables Nigerians to remit funds from nearly every country worldwide for financial market investments in Nigeria without relying on family, friends or other intermediaries.

Diaspora Nigerians with Optimus by Afrinvest accounts can initiate money transfers in their names and in the currency of the countries they reside using the Western Union platform or agent, select Afrinvest Asset Management Limited as the recipient and receive the Naira value in their Optimus by Afrinvest wallet for investment.

“We are thrilled to integrate with Western Union to bring this groundbreaking service to Nigerians in the diaspora,” said the chief executive of Afrinvest Group, Dr Ike Chioke, in a statement issued on Tuesday. “This integration aligns perfectly with our mission of simplifying investment, improving access to investment opportunities, and guiding people on creating wealth. By providing a direct channel to remit funds for investment, we are making it easier for Nigerians in the U.S., U.K., Cameroon, Ghana, Canada or wherever Western Union operates worldwide to create wealth while participating in the growth of the Nigerian economy.”

Chief business officer of Optimus by Afrinvest, Ayodeji Ebo, said, “We are excited to offer a robust, convenient, and secure platform for Nigerians to access a wide range of investment options that suit various risk appetites and financial goals. Optilock, our high-yield investment plan, returns as high as 20 per cent and 7 per cent per annum for the Naira and Dollar options, respectively. Afrinvest Plutus Fund gives investors access to high-quality, short-term fixed-income securities such as Treasury Bills, Commercial Papers and Fixed Deposits from issuers rated ‘BBB’ and above.”

Ebo said, “the Nigeria International Debt Fund offers investors with low to medium risk appetite access to longer-term fixed-income securities like FGN Bonds, Corporate Bonds and selected money market instruments. Investors who opt for the Afrinvest Dollar Fund get access to Eurobonds and other dollar-denominated securities issued by Nigeria and or Nigerian corporates. Meanwhile, the Afrinvest Equity Fund, our flagship mutual fund, offers investors a basket of the Top 30 Nigerian blue-chip stocks with sound fundamentals, strong track record of above-average earnings, profitability and dividend payment.”

“For investors who prefer to customise their equity portfolio, they can launch the Afrinvestor 2.0 app, our Nigerian stock trading platform to access all stocks listed on the Nigerian Exchange (NGX) through Optimus by Afrinvest,” Ebo added.

This integration of the Optimus by Afrinvest investment platform with Western Union represents a significant step forward in empowering Nigerians in the diaspora to live globally and invest locally.