Saturday, February 24Inside Business Africa

Insurers drive industry well-being with online stores for money market fund

The financial market provides the platform for mobilizing funding for all economic entities – government, businesses, and households. There are two main segments of the financial market, namely the money market and the capital market.

While the money market is structured to mobilise and distribute short-term funds to economic units, the capital market mobilises funds for long-term needs.

Despite the growth in the savings and investment products in Nigeria, the country still records low mobilisation of savings and investments, a research by FSDH has shown.

The research stated that the ratio of gross national savings to the gross Domestic Products in Nigeria was one of the lowest among some countries in the world.

In addition, with the impressive growth in the mutual fund in Nigeria in the last five years, the ratio of mutual fund assets to the GDP is estimated at 0.5 per cent.

For AXA Mansard Investments, a multi-expert asset manager in Nigeria, has partnered with Jumia’s all-in-one lifestyle App, Jumia One to bring AXA Mansard’s Money Market Fund closer to the public and make it easier to invest.

This over the weekend the firm, said it has determined to continue to provide top-notch savings and investment solutions.

In addition to AXA Mansard’s MyAXA app, AXA Mansard’s Money Market Fund was now accessible through the Jumia One app, it added.

This means that new and existing clients can now either sign up or make payments to the money market fund on the Jumia One app.

The Head of Solutions, AXA Mansard Investments, Renah Osiemi, who at the weekend in an interview with The Guardian said, “AXA remains committed to empowering people to live better lives. We are therefore very excited about this partnership with Jumia One which will make transactions easier and money market fund more accessible to a wider number of people.”

Osiemi added, “AXA Mansard has tasked itself with seeking innovative ways to create value for its customers. One key thrust of our strategy is to create a delightful client experience that enables people better manage their finances.

Mansard, this is the reason we are partnering with Jumia One to ensure we keep making transacting easy and seamless.”

Also speaking on the partnership, Head of Jumia One, Tunde Akinnuwa, said the partnership aimed at bringing every online service to one place for easier, more secure and affordable transactions.
He said, “ Therefore, we have chosen to work with an organisation whose mission aligns with ours.

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