Afrinvest announces merger with Western Union in Nigeria

From Mustapha Adamu, Kano

Afrinvest (West Africa) Limited (“Afrinvest”), a leading investment management holding company has announced a strategic integration with Western Union, a global leader in money transfer services.
Afriinvest, is a company acting through its wholly owned subsidiary, Afrinvest Asset Management Limited, a fund manager licensed by the Securities and Exchange Commission (SEC), .
In a statement on Wednesday, the company said the integration enables Nigerians in the diaspora to remit funds directly for financial investments through the Optimus by Afrinvest investment platform.
“This integration, a first for Western Union with a partner company in Africa, enables Nigerians to remit funds from nearly every country worldwide for financial market investments in Nigeria without relying on family, friends or other intermediaries. Diaspora Nigerians with Optimus by Afrinvest accounts can initiate money transfers in their names and in the currency of the countries they reside using the Western Union platform or agent, select Afrinvest Asset Management Limited as the recipient and receive the Naira value in their Optimus by Afrinvest wallet for investment.
“We are thrilled to integrate with Western Union to bring this groundbreaking service to Nigerians in the diaspora,” said Dr. Ike Chioke, Chief Executive of Afrinvest Group. “This integration aligns perfectly with our mission of simplifying investment, improving access to investment opportunities, and guiding people on how to create wealth. By providing a direct channel to remit funds for investment, we are making it easier for Nigerians in the U.S., U.K., Cameroon, Ghana, Canada or wherever Western Union operates worldwide to create wealth while participating in the growth of the Nigerian economy.”
Ayodeji Ebo, Chief Business Officer of Optimus by Afrinvest, said, “We are excited to offer a robust, convenient, and secure platform for Nigerians to access a wide range of investment options that suit various risk appetites and financial goals. Optilock, our high- yield investment plan returns as high as 20% and 7% per annum for the Naira and Dollar options, respectively. Afrinvest Plutus Fund gives investors access to a basket of high- quality, short-term fixed-income securities such as Treasury Bills, Commercial Papers and Fixed Deposits from issuers rated ‘BBB’ and above.”