Two startups allow everyday Nigerians to access high-yield government bonds

In emerging market countries where economic volatility is a way of life, there aren’t a lot of relatively safe options for the up-and-coming middle class to save their money. In Nigeria, two startups are giving Nigerian investors a way to save their money through high-yield government bonds, which can absorb wild swings in the value of the country’s local currency and still provide a healthy return. While both CowryWise and Piggybank offer users relatively simple savings solutions, there are subtle differences between the two. For example, the CowryWise platform uses Meristem Financial as an asset manager for investments in the bond market, whereas Piggybank works primarily with banks. Piggybank also requires a three-month savings period before investors can withdraw funds, whereas CowryWise lets users withdraw funds immediately. Despite the differences, both are important steps forward in allowing Nigerians the chance to save and make sound investments.