Ndovu, a Kenyan wealth-tech startup, is revolutionizing the investment landscape by making financial markets more accessible to a broader segment of the population.
Democratizing Wealth Creation
Founded in 2020 by Radhika Bhachu, Ro Nyangeri, and Gianpaolo De Biase, Ndovu is available on both iOS and Android, enabling users to invest as little as KES 5,000 (US$50) in local and global listed companies. The company aims to democratize wealth creation by providing user-friendly digital platforms and affordable investment opportunities.
The startup was born out of the realization that Kenya’s traditional investment options often lock out the majority due to complexities in market access and high management fees.
Funding and Mission
At its launch, Ndovu secured pre-seed funding from 4DX Ventures, Plug and Play Tech Center, Future Africa, and Oui Capital.
“Our idea was born out of our passion to improve financial lives across Africa. Our vision is to provide every African, regardless of income level or financial knowledge, with the right tools to grow their wealth. We believe educating our people on how to make their money work for them will bring us one step closer to reducing poverty on the continent,” said Radhika Bhachu, Co-founder and CEO of Ndovu Wealth Limited.
During the launch, Bhachu emphasized Ndovu’s mission: “We are fostering a culture of saving and investing in Kenya. With this fund, we’re empowering Kenyans to take control of their financial future by offering a platform to start investing, diversify their portfolios, and meet their long-term goals—all while earning competitive returns.”
Leveraging Technology for Financial Inclusion
Ndovu’s digital platform simplifies the investment process, allowing users to conveniently manage their portfolios through mobile applications. It provides access to both local and global financial markets, offering personalized financial advice tailored to individual goals and risk appetites. This aligns with global trends where investors seek financial products that ensure safety, liquidity, and moderate returns.
Operating under a fund management license from the Capital Markets Authority (CMA), Ndovu upholds stringent regulatory standards, bolstering investor confidence. The company further ensures transparency and security through regulation under the Institute of Certified Investment & Financial Analysts (ICIFA), the Communications Authority, and the Nairobi Securities Exchange.
Impact on Kenya’s Financial Landscape
By lowering investment thresholds and leveraging technology, Ndovu is playing a key role in promoting financial inclusion in Kenya. Its low minimum investment requirement makes it an accessible option for individuals previously hesitant to invest due to financial constraints, thereby fostering a savings and investment culture among Kenyans.
Introducing the Ndovu Fund
In October 2024, Ndovu launched its Money Market Fund (MMF), known as the Ndovu Fund, after receiving approval from the Capital Markets Authority (CMA) of Kenya. This fund allows individuals to start investing with as little as KES 500, significantly lowering the barrier to entry for first-time investors. Designed to provide a flexible, stable, and relatively low-risk investment option, the Ndovu Fund offers competitive returns, making it attractive to both new and seasoned investors.
The fund invests in a diversified portfolio of high-quality, short-term securities, including Treasury Bills, Treasury Bonds, and highly-rated commercial paper, aiming to provide competitive returns while maintaining liquidity and minimizing risk.
A Bright Future for Kenyan Investors
As Ndovu continues to innovate and expand its offerings, it is poised to make a lasting impact on Kenya’s investment culture. By providing accessible, transparent, and technology-driven investment solutions, the startup is empowering more individuals to participate in wealth-building opportunities, reshaping the future of finance in Kenya.
