DriveWealth, a fractional investing and embedded finance company, has partnered with Hisa Technologies, a wealth management platform, to enable fractional trading for Kenyans.
With DriveWealth’s real-time fractional trading technology, Hisa users can invest in fractional shares of U.S. stocks. The move will benefit educational content such as news, podcasts and user generated discussions geared toward improving financial health directly through the app.
Kenyans have previously been required large sums of money to invest in U.S. securities, leaving a portion of the Kenyan population without access to investing. DriveWealth’s partnership with Hisa and Faida Investment Bank is making finances accessible and approachable for all by enabling Kenyans to invest on a dollar equivalent basis with no minimum requirements in over 6,000 U.S. securities and ETFs.
DriveWealth’s partnership with Hisa marks an additional milestone for the company as it progresses its mission to democratize investing throughout Africa. This follows DriveWealth’s recent partnership with Chipper Cash, which brought first-time access to investing in U.S. equities in Uganda, and soon in Nigeria and South Africa.
Speaking on the partnership with Hisa, Bob Cortright, founder and CEO of DriveWealth stated, “At DriveWealth, we believe that making investing affordable and approachable is critical to democratizing financial services around the world. We are excited to partner with Hisa and Faida Investment Bank to break down the barriers to investing and create new opportunities for Kenyans to improve their financial health.”
On his part, Erick Asuma, co-founder and CEO of Hisa and founder of digital content platform Kenyan WallStreet said, “DriveWealth’s mission of democratizing investing really aligns with our goal to open up access to investing and promote financial education to our users. Our users have expressed a desire to build a financial future by investing in both U.S. and Kenyan securities and we’re excited to be meeting their needs through this partnership with both DriveWealth and Faida.”