Mobile app aims to help South Africans save and invest better
South African financial services provider Liberty launched its Stash investment application (app) earlier this month to help improve a local savings culture by providing a solution that removes the complexity and fear associated with investing.
Stash is designed to mitigate all the complicated investment jargon, processes, forms and cashing-out difficulties. It also reduces the amount of time it takes to meet with a financial adviser.
Once Stash is downloaded, users receive R50 upfront to start their investment journey. Every time a user refers a friend, they are rewarded with an additional R10 to their Stash account.
“When it comes to investing, getting started is the hardest part,” says Stash head developer Juan Labuschagne, who adds that the research involved in investing can often be daunting and off-putting. “Investing should be as easy as tweeting – that’s the goal of Stash.”
Users decide how much they want to invest and the app automatically rounds up the amount of every transaction. For example, if a user decides that his or her Stash transaction limit is R10 and makes a transaction for R45, this would be rounded up to R50. The R5 in change is stashed in the user’s account.
“All this spare change accumulates without interfering with your day-to-day life,” Labuschagne says, adding that Stash checks the users’ daily bank balance and never transfers more than they can afford, removing the risk of going into overdraft.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation