The Fintech startup which helps Nigerians save and invest online, Cowrywise, has announced a new opportunity for Nigerians.
This opportunity is another investment option which gives Nigerians a chance to invest in Naira and get returns in Dollars.
According to this article, the investment is the first of its Dollar mutual funds and is called the United Capital Nigerian Eurobond Fund.
Nigeria Eurobond Fund is a type of mutual fund that invests in Dollar-denominated Eurobonds, floated by the Federal Government of Nigeria, as well as domestic top-performing companies like SEPLAT, Ecobank and Firstbank.
The United Capital Nigerian Eurobond Fund investment can be started with as low as $100 in the Nigerian Naira equivalent, is a long term investment of at least one year, and offers two sources of returns; the first being the yield which currently sits at about 8% per annum and the second is from possible changes in the value of the Naira against the Dollar.
Apart from this being another investment option, it is great that there is a risk assessment as one of the steps to access the fund. To get started, download or update the Cowrywise App.