The Need That Birthed Yochaa App

The influx of foreign direct investments into the economy and the myriads of reports projecting Nigeria as the new money district is a testament to the opportunities that still abound herein

The Nigerian stock market for some is a plague or at the very least a pill with a sour aftertaste that is better forgotten. For others, it is a source of wealth and economic advancement with untapped opportunities.

The determinant of what side of the fence you sit on is whether or not you or anybody you know has invested before and what the outcome of such investment was.

However, the influx of foreign direct investments into the economy and the myriads of reports projecting Nigeria as the new money district is a testament to the opportunities that still abound herein.

The Nigerian Stock market gained 43% in 2017, ranking as the 3rd in the world for stock markets. It also thrived as the best performing worldwide at the beginning of the year 2018; yet, many Nigerians have neglected it.

Investor participation today is still really low. However, Yochaa is on its way to change that by first meeting the huge demand for easily accessible data.

Over time, we have witnessed a shift from physical structures that are bound by time and geographical location to the digital space. Mobile phone penetration at the end of 2017 was a whopping 84% with over 21 million smartphones in the nation.

This need has spurred a shift and thanks to Yochaa, the Nigerian Stock Market now has a home. Its ease of operation that transcends the stock market from the slightly complex and rigid world of moving numbers into an attractive colour-coded application with simple charts.

The beta version of Yochaa was published in March 2015 and since its inception, it has experienced immense growth. From educating new investors on how to go about investing, analysing the Nigerian Stock Market data facilitating the ease of informed decision making, and providing an outlet for investors to manage their portfolio, Yochaa has not only brought the NSE to the hands of the everyday Nigerian but also made it a fun adventure worthy or exploring.

The app thrives as the first mobile-based solution for stock market data access in Nigeria and its reviews have been nothing short of tremendous. They have an average customer rating of 4.5/5 with many users citing the user interface, ease of use, and functionality as the strongest attraction.

Most interesting is that about 70% of the App’s users are below 44 years old. The programmers of the app have also taken steps to include a brokerage platform on the app so as to give room for immediate trading. Yochaa is undoubtedly set to be the go-to tool for the new wave of digital and tech-savvy investors in Nigeria.

Written by Lawretta Egba