Nigerian investment fintech Cowrywise has processed more than one million stock trades since launching its Stocks product a year ago, highlighting the growing use of digital platforms by retail investors seeking access to the Nigerian equities market.
The milestone comes as the company introduces a new curated stocks feature designed to help users navigate individual investment opportunities.
New Feature Brings Research Into the App
The new feature presents selected companies alongside analyst research and classifications such as “buy,” “sell” or “hold”.
Rather than simply providing customers with the ability to execute trades, Cowrywise is moving further into the decision-making stage of the investment process by giving users research-based information within its platform.
The company said the approach is intended to make stock investing easier to understand, particularly for people who may be unfamiliar with the Nigerian market.
Younger Investors Drive Digital Stock Activity
Cowrywise says it has observed a shift among younger Nigerians toward direct participation in local businesses through stock ownership.
Yarmirama Ashama, the company’s Associate Vice President of Product, said the fintech identified an opportunity to simplify access to the stock market for first-time investors who may previously have viewed it as complicated.
The average age of retail stock investors on Cowrywise’s platform is currently 28, according to the company.
NGX Trading Activity Has Increased
The expansion of digital stock-investing platforms comes against a backdrop of stronger retail participation on the Nigerian Exchange (NGX).
During the first eight months of 2026, local investors traded equities worth ₦4.53 trillion, equivalent to about $3.42 billion. That was almost twice the ₦2.33 trillion, or $1.76 billion, recorded during the corresponding period of the previous year.
The increase has coincided with strong market performance, providing another factor behind the growing interest in Nigerian equities.
NGX Index Gains Boost Investor Interest
The NGX All-Share Index had risen by 56.93% by the end of August 2026, according to the figures cited in the report.
The index tracks the performance of listed equities on the exchange, and its strong year-to-date performance has occurred alongside increased participation from retail investors using mobile investment platforms.
Small Monthly Investments Becoming More Common
The changing investor base is also reflected in the amounts some younger Nigerians are committing to stocks.
Interviews with young professionals earlier in 2026 found that some investors were making regular monthly contributions of as little as ₦5,000, while others were investing between ₦20,000 and ₦200,000.
The trend suggests that stock investing is increasingly being incorporated into regular personal-finance routines rather than being limited to occasional large investments.
Dangote Refinery Offer Drives More Activity
The ongoing public offer linked to Dangote Refinery has provided another major source of retail market activity.
The ₦2.15 trillion offer allows investors to participate with a minimum subscription of ₦5,250. Its launch generated increased activity on digital investment platforms, including Cowrywise.
Ashama said the company typically sees increased activity around significant market events, including major earnings announcements, dividend declarations, corporate actions, changes in trading hours, broader market movements and public offers.
Cowrywise Expands Beyond Savings and Funds
Cowrywise was founded in 2017 and initially built its business around savings products, mutual funds and managed investments.
The company later expanded into self-directed stock trading, allowing users to buy Nigerian equities through its platform.
Its Stocks product generates revenue through brokerage commissions on retail transactions processed on the NGX.
Bamboo Remains a Major Digital Competitor
Cowrywise is competing in an increasingly active digital investment market that includes platforms such as Bamboo.
Bamboo entered the Nigerian stock market earlier, launching access to NGX-listed equities in 2024. The company subsequently expanded its offering with Managed Portfolio in 2025, allowing customers to invest in a curated selection of US stocks with a minimum investment of $100.
The platform has also recorded significant activity among retail investors trading Nigerian equities.
Bamboo Reported More Than 500,000 NGX Trades
In June, Bamboo said it had processed 542,582 NGX trades during April alone.
The figure placed the company ahead of stockbrokers including CardinalStone in terms of weighted market share for that period, according to the report.
The figures from both companies reflect a broader shift toward mobile-first access to Nigerian equities as fintech platforms seek to make investing more accessible to retail customers.
Competition Is Moving Beyond Trade Execution
The growing number of trades is also changing the nature of competition between investment platforms.
With basic access to stocks becoming increasingly available through mobile applications, fintech companies are now differentiating themselves through features such as research, curated investment options, managed portfolios and simplified user experiences.
Cowrywise’s new curated stocks feature represents its latest move into that space, giving customers additional information to consider when deciding which companies to invest in.
