KAMPALA, Uganda — MTN Mobile Money (U) Limited (MTN MoMo) and Sanlam Investments East Africa Limited have partnered to introduce Yinvesta, a unit trust investment product aimed at making investing accessible and flexible for all Ugandans, the companies announced Wednesday.
Yinvesta allows users to begin investing with as little as 1,000 Ugandan shillings (approximately $0.27 USD) through the MTN MoMo platform. The product offers daily interest earnings, easy withdrawals, and full transparency via the mobile money service’s channels.
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Licensed by the Capital Markets Authority of Uganda, Yinvesta pools funds from multiple investors into a diversified portfolio that includes treasury bills, bonds, and bank deposits. The primary goal of the product is to preserve capital while providing a competitive return to investors.
Jemima Kariuki, Chief Product Officer at MTN MoMo, emphasized the significance of Yinvesta in democratizing investment opportunities. “At MTN MoMo, we believe that financial empowerment should be accessible to everyone. Yinvesta simplifies investing, making it possible for Ugandans to grow their wealth effortlessly. With just UGX 1,000, anyone can start their journey toward financial independence,” Kariuki said at the launch event in Kampala.
Jonathan Stichbury, Chief Executive Officer at Sanlam Investments East Africa Limited, highlighted the importance of accessible investment options in the current economic landscape. “With the launch of Yinvesta, we are revolutionizing the way Ugandans invest. This user-friendly mobile phone platform empowers individuals to start investing with as little as UGX 1,000,” Stichbury stated, noting the product also offers daily interest and instant withdrawals.
The launch event included a product demonstration and discussions on financial literacy. Ugandans can begin investing immediately by dialing 1657*1# on their mobile phones and selecting option 1, or by using the MTN MoMo app.
MTN Mobile Money (U) Limited is a subsidiary of MTN Uganda Limited and a leading mobile financial services provider in the country, serving over 12 million customers. Sanlam Investments East Africa Limited is part of the Sanlam Group, a Pan-African financial services group.
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