Investment One has highlighted the benefits of ‘Ziing,’ its financial solution that was designed to ease investing, savings, and other financial services.
The Lagos-based firm said the solution is expected to drive financial inclusion in the economy, particularly among the millennials.
It pointed out that since its introduction into the Nigerian financial market, 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,” the firm explained.
The Group Managing Director of Investment One, Mr. Nicholas Nyamali, disclosed 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.”
Nyamali noted that 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 a Senior Lecturer in Strategy at Nottingham Business School, Dr. Dipo Awojide, on Twitter, sheds more light on the many investment opportunities millennials can tap into to upgrade their financial knowledge.
Meanwhile, types of investments available on the Ziing platform include short-term investments such as mutual funds, treasury bills, commercial papers -which are more liquid (easily accessible) with a predictable interest.
They are held for one year or less. 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.
Awojide advised that millennials below 35 years can go for both long and short-term investments; noting that it is a way of their investment portfolios.
Furthermore, he said, “it is vital for millennials to take the advantage of compounding effect of investments when they start on time. “And if they set aside some funds for the next 12-25 years, they are guaranteed impressive returns.”
“For instance, an initial deposit of N100, 000 at 10% per annum compounded yearly for 20 years with additional investments of N10, 000 monthly will yield N5, 412,617 after 20 years,” he said.