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Ugandans can now invest in global companies with as little as $1

Dan Tumuramye CEO Chipper Cash Uganda

Kampala Uganda | THE INDEPENDENT | Chipper Cash has today launched a product that will enable Ugandans  invest in publicly traded global companies like Amazon, Tesla or Facebook.

The launch of the Chipper’s Global Stocks Investing product makes it the first company to offer fractional stock investing in Uganda. The African fintech startup is licensed and regulated by the Capital Markets Authority.

“Today, we’re launching a revolutionary product, U.S. fractional stocks,” says Ham Serunjogi, Co-founder and CEO of Chipper Cash.

“This product is probably our most impactful product since the launch of the original Chipper app just three years ago.”

Through its partnership with DriveWealth LLC, a pioneer in fractional investing and embedded finance, Chipper Cash empowers the average Ugandan to build long-term wealth with safe and affordable access to the U.S stock markets.

“For the first time ever, Ugandans of all economic backgrounds will be able to invest as little as $1 or 3,500 Uganda Shillings in the world’s largest public companies listed on the New York Stock Exchange – when we talk about unlocking global opportunities, this what we mean. As a proud Ugandan, it means so much to me that we get to launch a product that will empower my fellow countrymen and women,” Serunjogi said at the launch.

How it works

Previously, investing in U.S equities required high minimums and was only accessible by high net-worth individuals. This effectively priced out first-time investors.

With Chipper Cash, users can invest on a dollar equivalent basis (i.e., fractional shares) in over 6,000 U.S. securities and ETFs, with little or no minimum requirement – anyone can invest. The entry point is $1. And with over 1,000 global companies listed on the Chipper Stocks, you can invest in U.S./international equities and build a global portfolio that lasts through time.

Chipper Cash is blazing the trail in using technology to drive financial inclusion in Uganda and the continent through its overall value proposition of local and international transfers, crypto offerings, airtime, data, and bill payments. Now, users can also take advantage of its easy-to-use and affordable investment product.

There has been an uptick in the awareness and demand for safe investments by Ugandans in recent years. And while goal-based saving has taken center stage (with many banks, insurance companies, and SACCOs offering this service), investments in equities is key to achieving financial independence and building long-term wealth.

“Wealth creation is one of the most powerful ways of driving economic and social development in any country. For too long, many tools that offer the ability to generate and store wealth have remained inaccessible for too many, for too long. This product, the Chipper fractional stocks product, fixes precisely that problem,” says Serunjogi.

An expert said, “As Africans, land and real estate are often our most popular investment options. And that’s okay. Followed closely by more formal options such as good old stocks, treasury bonds, T-bills, and fixed deposits.”

The available investment options were often big-ticket investments and require a significant cash outlay from investors. This means first-time investors—usually the younger population— can’t build wealth this way as they are either still dependent on their caretakers or simply don’t have enough disposable income to spare.

Now that will change with the new Chipper Cash product.

Fractional shares, the new kid on the investing block, are crucial to making investing in stocks easier and more accessible, especially for African countries with lower valued currencies.








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One comment


    Grateful for the initiative. I believe this will go along way to change lives of many Ugandans. Over the years, we have lost millions trying to invest online only to discover it is scum!

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