As they say, the world is now a global village. The geographical limitations that once held us back from opportunities are no more. Right here in Uganda, one can shop on Amazon or almost anywhere in the world as though they were physically present. Beyond shopping, we now can do business globally crossing time zones with so much ease than before
The latest and most exciting opportunity is trading global stocks on the New York Stock exchange. Yes! This is finally possible with the Chipper Cash app. Since the launch of Chipper Cash Stocks in November 2021, many Ugandans have jumped on the opportunity to participate in trading stocks and equities beyond the Uganda Securities Exchange and traditional Ugandan investments.
On launch day, I bought Tesla stock with so much ease on my phone. This was as exciting as it was powerful. In a few moments I had become a Tesla shareholder who could profit from my investment and as days passed by, I continuously monitored how Tesla was performing to see if my investment had made me a profit. Some may ask how they profit from trading stocks. One can profit by buying stocks and selling them at a higher price when they appreciate, or you can earn a dividend (profit from your stocks) as a shareholder.
Chipper Cash is one of the leading cross boarder money transfer service providers with both inbound and outbound transactions. This means users on Chipper can send and receive money to and from each other. This includes receiving money from Nigeria, US and UK straight to your Chipper Cash which you can then send to your Mobile Money. Remember, sending and receiving money on Chipper Cash is free. Chipper stocks are their latest service addition to the portfolio.
How do I get started with Chipper Stocks?
To start trading, a user must download the Chipper Cash App on the Google Play or App store and verify their account with a national ID or passport. Before buying stocks, one must first fund their account with Mobile Money. If you are new to stocks like me, it helps to read and understand how they work, which company stocks to buy and what to expect in trading. Chipper stocks help users to research about the performance of various stocks before they choose which company to invest in.
With Chipper, the buying of stocks is as simple as tapping a button and so is the monitoring of your investment portfolio performance. It is rumored that you will soon be able to buy Ugandan stocks as well.
Apart from the simplicity of being able to buy global stocks just like that, what really struck me is the integration with mobile money. I didn’t have to wait to accumulate a lot of money. With as little as $1 or about Ugx 4000 you can buy stocks in your favorite global companies. Secondly, there are so many companies with a solid performance to choose from.
In conversations with my peers, I observed an interest in companies like NVIDIA and Intel that manufacture the chips that power a lot of the tech we use today. Other companies of interest included Tesla, General Electric and Apple whose stock has continued to soar but this is not investment advice but more of an observation.
How do I get more Information about stocks?
We are still a young and nascent market with a handful of companies listed on the Uganda Stock Exchange and even fewer Ugandans participating in stocks as an investment. The traditional treasury bills, bonds and mutual trusts are a good way to dip your fit into money markets. MTN Uganda recently listed and did quite a job in educating people about stocks as an investment. Chipper is also actively educating users on the overall investment best practices and principles. Educate yourself as much as possible so you have at least a basic understanding of how stocks work. Some of the content I found useful as a beginner are here below.
Are my investments safe?
Since stocks are new and many have gotten their fingers burned in “online” investments, it is important to know that Chipper Technologies Uganda is a licensed and regulated by Bank of Uganda and the Capital Markets Authority to carry out the said services. The licenses obtained include Payment Systems Operators (Large Funds Transfer) and Payment Services Provider (Other Payment Services). What all the jargon means is that Chipper is now able to add more services to their existing ones like virtual cards, bill payments, network APIs, enterprise business solutions and so much more.