3 apps I am using to build wealth as a Ghanaian.
Now, if you’re anything like me, you know that gaining financial freedom in Ghana isn’t a walk in the park.
It’s more like a never-ending obstacle course, with unexpected hurdles and a whooole lot of perseverance. Lack of job opportunities, unstable markets, and the constant pressure to provide for ourselves and our loved ones makes it feel like an uphill climb.
In short, Ghana hard chaley! 😤
But despite all those hurdles, this is the perfect time to build wealth.
Not next month. Not next year. Now.
Why now is the right time to build wealth
We’re living in a time where opportunities are knocking at our doors, and we’ve got the chance to answer them.
The world is changing, and it’s changing fast. We just need the right tools to build our wealth. With technology and innovation taking center stage, those tools are at our disposal. From apps to online platforms, hundreds of Ghanaians like myself are building wealth right from our smartphones.
On that note, here are 3 of my favourite apps that I’m using to transform my financial journey right here in Ghana.
Disclaimer: These are my personal choices, and what works for me may not work for everyone. However, I’m sharing them with you because I believe they have the potential to make a positive impact on your financial well-being too. This is NOT financial advice.
#1 Wise
Wise is my go-to tool for receiving online payments. It allows me to send and receive money internationally easily and at competitive rates.
It’s especially handy for those of us who work remotely. No PayPal account, no problem. Wise is the perfect substitute for sending & receiving money from friends and family with no wahala.
Why I love it
MOMO 😍: Not only can I link to my bank account, I can link to my mobile money account and make transfers directly to my MoMo account.
Multi-currencies 💶💷💵: Dollars, Euros, Pounds, Yen, you name it. I can receive* and hold money directly in as many as 50 currencies at far lower rates than most banks for the same foreign accounts.
Fast & secure ✈: I’ve never had delays in receiving money. Whether it’s international transfers or sending to my MoMo account, I safely receive it within 24 hours. Wise even sends an estimated time to expect a transaction to be completed.
How to get started
Go to www.wise.com or download the Wise app from the App Store or Play Store and open a personal account*. Get a fee-free transfer up to £500 if you sign up with my link. You also earn £50 for every 3 friends you refer who transfer over £200 in one go.
#2 Achieve App
This little gem has revolutionized the way I manage my finances. The Achieve app is like having a virtual financial advisor in my pocket. It helps me save, dabble in investing, and even provides me with financial tips. Achieve’s user-friendly interface and features makes saving and investing a breeze.
Why I love it
- Easy to start: I started with GH50 but you can start with as low as GH10.
- DigiSave: DigiSave is Achieve’s first investment product. It’s an open ended mutual fund. It’s a low-risk way to enjoy compound interest as a newbie. All I have to do is top up my account and Achieve does the heavy lifting of growing the money. And yes, I earn interest on my top-ups.
- Goals 🎯: I can set up separate accounts for different purposes. Saving for that dream vacation? Rainy days? Retirement fund? You name it.
- Anytime withdrawal ⌛: DigiSave is a flexible investment. In case of emergency, I can quickly transfer cash to my momo account with no penalty.
- Group savings 👨👩👧👦: I can invite family and friends so that we save jointly towards a goal, like raising funds for a family homecoming.
- Referral points 📊: I earn 10 points for every friend I refer. The points are credited to my DigiSave account. I can also redeem my points to convert them into cash.
How to get started
- Click this link to get started (referral link).
- Sign up with a valid email address and verify your identity.
- Set up your mobile money wallet for top-ups and withdrawals. You can also use your Visa or MasterCard.
- Create your first investment account or goal account and voila!
PS: (If you’ve gained value from this section and love to return the favour, please feel free to enter my username (jesseq) in the “How did you hear about Achieve” section when signing up. Thank you!).
#3 Bamboo Investment app
Ever dreamt of buying and owning shares in top American companies like Google, Apple, and Microsoft? Let me introduce you to Bamboo, the investment app by Africans, for Africans. It puts the power of the US stock market right at my fingertips.
First launched in Nigeria, Bamboo has expanded to Ghana. They’ve partnered with 10th Capital Investments and are licensed to operate by the Securities and Exchange Commission (SEC). So no worries, it’s fully legit.
Why I love it
- Fractional Shares 🍕: A bit scared to invest heavily in high-priced stocks? Bamboo offers fractional share purchase. This means I can still own a slice of these giant stocks with my small cash. For instance, if I want to buy a Google stock that costs around $120 per share but I only have $10, I can purchase a fractional share with that $10! (Yes it’s legal. You can read about it here).
- Auto-investing ⌚: For those of us who prefer a more hands-off approach, Bamboo’s auto-investing feature is the answer. I can set up recurring investments at time intervals that fit my financial goals. Automating your investments helps you build wealth over time without the need for constant monitoring.
- Diversification 📈: With Bamboo, I can access a wide range of investment options, including stocks and ETFs and build a diversified portfolio. Whether it’s to invest in global giants like Apple and Amazon, or profit from real estate, Bamboo has got me covered.
- Education and insights 🧐: I can access educational resources, tools and market insights to help me make informed investment decisions. Accessing news articles, analyses, and market trends in the app is just the tip of the iceberg. I love the stock market course with Falz and Temi on their YouTube channel, which helps beginners like me to get started on our investment journey.
- Easy-to-use interface 💻: Bamboo’s user interface is designed to make investing hassle-free and accessible to all. The app provides a seamless experience from account creation to buying shares. I can monitor my investments, view real-time market data, and access research materials all within the app.
- Referral goodies 📊: Refer a friend and get 1% of their first fixed return lock over $100 or 2.5% of their first trade above $20.
PS: (If you’ve gained value from this section and would love to return the favour, please feel free to use my referral code (jesse186961) when signing up. Thanks!).
That’s a wrap! So these are just 3 of my favourite apps I’m using to building wealth. This is Part ONE of my Favourite Apps series. Keep watching this space for Part TWO soon!
If you’d like to reach me, connect with me on LinkedIn or shoot me an email at jessequagraine@gmail.com.
