🎉Cowrywise In Alliance With Meristem, Brings Affordable Mutual Funds To The Mass Market

Press Statement. Date: May 27, 2019

Cowrywise and Meristem Wealth Management Limited recently agreed on a quintessential partnership focused on making it possible for millions of Nigerians to gain access to the mutual funds at just NGN100.

This alliance will blend over 15 years of investment experience from Meristem and the nimble nature of Cowrywise; the only African firm on the list of 50 global startups to watch out for in 2018. Funds that will be retailed are the Meristem Money Market Fund and the Meristem Equity Market Fund.

Expressing his expectations of this partnership, Razaq Ahmed, CEO/Co-founder, Cowrywise said: “We are assured that with this partnership we’ll be unlocking a new channel to fill in the gap of wealth building for the mass market. A gap that has been previously dominated by Ponzi schemes and has caused indescribable pains to Nigerians.”

In the same vein, Taiwo Yusuff, CFA, Head of Asset Management, Meristem Wealth Management Limited, had this to say, “Right from the onset, we have been focused on reshaping the Nigerian investment space. With a unique array of products, in the past 15 years, we have been able to keep up with this goal. Hence, we see this partnership with Cowrywise as a deepening channel for our reshaping goals and our commitments to financial inclusion. It is quite exciting to us, as a team, that our products will now be available to everyone at just NGN100; we see that as a significant move that will help take participation in the industry to unprecedented levels.”

Settling any worries about disproportionate experiences, Meristem also stated that the sterling experience it offers will not be altered with this retail offering. The overall goal of this partnership, which will involve other top players in the industry, is to ramp up the number of mutual funds’ investors from about 400,000 to over 10 million by 2025.

About Cowrywise

Cowrywise is a fintech company democratising access to wealth management services. In just under 2 years, the Y Combinator-backed startup has established itself as a strong player in the quest for financial inclusion in Nigeria. The journey started with automated savings and micro-investments in government bonds/treasury bills with as low as NGN100 and a trustee alliance with one of Nigeria’s top-tier trustees to operate with the same security structure as pension funds. For more information, please visit cowrywise.com

About Meristem

Meristem Wealth Management Limited (MWML), the first and only GIPS compliant wealth manager in Nigeria, was incorporated in August 2008 and registered as a Fund and Portfolio Manager with the Securities and Exchange Commission (SEC). Its assets under management (AUM) has grown consistently over the years and was in excess of 190 billion Naira as at December 2018.

Media Contacts

Feranmi Ajetomobi, +234 802 221 2229, hello@cowrywise.com