Nigeria:Ziing, Bridging the financial gap for millennials
- 03 November 2020 / News / 173 / Emerging Africa
In recent times, the world has seen a revolution in various sectors and the finances are not left out. Before the emergence of COVID-19, several businesses and individuals have had to deal with a series of challenges and the transitions which are required for survival. It will appear that the global pandemic has only helped to fast-track the new digital transformation.
The effects of the pandemic that rippled through the economy exposed, for some, financial strengths, and for others, a long hunt for short-term solutions to remain financially viable.
To cushion the effects of this implosion, Ziing, a financial platform by Investment One Financial Services designed to ease investing, savings, and other financial services, emerged to drive financial inclusion in the economy -particularly for millennials.
Since its inception, Ziing has been growing exponentially in terms of catering to various financial needs. It speaks directly to a class of people who desire, understand and appreciate the ease of money management and the investment opportunities consistent with demands applicable to the era we are currently in.
According to reports during its official launch last year January, the Group Managing Director of Investment One, Mr. Nicholas Nyamali, gave an overview of the many benefits of the Ziing app.
Nyamali explained that, “Ziing is a tool that gives customers the opportunity to take control of their money and investments.
“It is the revolutionary banking app that goes beyond payments, and gives customers access to mutual funds, treasury bills, international money transfers, investment education, savings, investment information, and alternative investments.”
For Nigeria’s unstable economy to have any hope of getting back on its feet amidst the pandemic, millennials have a role to play, and it involves intensified interest in understanding and participating in profitable investment matters.
This is where Ziing comes in. It boosts financial inclusion for the growing millennial population in the country by giving relevant information on investment and financial education.
A recent chat session titled Investment Options for Millennials between Ziing representatives and Dr. Dipo Awojide (@OgbeniDipo), a Senior Lecturer in Strategy at Nottingham Business School, on Twitter, sheds more light on the many investment opportunities millennials can tap into to upgrade their financial knowledge.
On the type of investments available on the Ziing platform, there are Short-term investments like Mutual Funds, Treasury Bills, Commercial Papers -which are more liquid (easily accessible) with a predictable interest, are held for one year or less.
While long term investments like land, shares, real estate, etc., -which are less liquid (harder to convert to cash) with better returns, are held for longer than a year. Eg: Equities. Real Estate, Eurobonds.