The Capital Markets Authority (CMA) and the Nairobi Securities Exchange (NSE) have given Hisa Technologies and Faida Investment Bank the go-ahead to allow fractional investing.
“We have received joint approval as Hisa and Faida from NSE and CMA to apply fractional investing after we met the requirements, and we will soon introduce that,” said Erick Asuma, co-founder and CEO of Hisa.
One of the most thrilling moments of our launch at the Nairobi Securities Exchange! pic.twitter.com/XhnWppSpLG
— Invest with Hisa (@HisaApp) November 23, 2022
“Hisa has come to make it easier to invest in companies like Amazon through fractional ownership. There is also work behind the scenes to enable fractional investing in government bonds,” added Bob Karina, founder and chairman of Faida Investment Bank.
The announcement was made during its public launch after a 10-month beta period. The app allows anyone in Kenya to invest directly in Kenyan listed stocks, US stocks and ETFs from their phones using mobile money.
The NSE through the CEO Mr @geoffrey_odundo today congratulated the team behind the development of the Hisa application, an application that allows anyone from across the country access to fractional investing for over 6000 US stocks and Kenyan stocks. pic.twitter.com/EMIIMTqD7E
— NSE PLC (@NSE_PLC) November 22, 2022
“We have developed a pathway for digitization and digital trading. We are very excited about our partnership with Hisa by providing them with capabilities to integrate directly to the exchange through Faida,” said Geoffrey Odundo, Chief Executive Nairobi Securities Exchange PLC.
The app is available on Android or iOS devices.
