New financial application for investments, Squirrel Away, makes its debut in South Africa
In the heart of South Africa, a new initiative named Squirrel Away is revolutionizing the way people gift and invest. The innovative app, launched in May, aims to ensure that children in South Africa grow up knowing they have a stake in the future [6].
Squirrel Away offers a unique solution by enabling users to invest in a child's future through low-cost contributions into Exchange-Traded Funds (ETFs) [4]. The process is straightforward, with contributions as low as ZAR 10 [3]. Once downloaded, the app is accessible, making the investment process easy for all [1].
The app's primary goal is to make long-term investing feel as common as buying a toy [5]. It achieves this by creating a platform where users can set up profiles for children and invite family or friends to contribute funds towards the child’s investment account [2]. This community-based investing approach encourages group contributions to build long-term wealth [1].
Sibongile Maputla, a representative of Squirrel Away, emphasizes that wealth is for everyone, and compound interest is not complex but belongs to everyone [7]. She states that the app's mission is to simplify gifting and promote responsible financial habits [1].
One of the app's key features is its user-friendly design, which eliminates complicated forms, branches, and financial jargon [1]. This accessibility makes it possible for users to open an account quickly [4]. The app is available for free on both Google Play Store and Apple Store [1].
Squirrel Away is the first investment gifting app in South Africa [8]. It is positioned as a South African startup with the objective of creating lifelong value for children through familiar gifting mechanisms turned into smart investments [3].
The investments made through Squirrel Away have long-term growth potential [9]. By investing in a child's future, users are not only helping them financially but also instilling the importance of responsible financial habits from a young age. This approach aims to build intergenerational wealth and financial inclusion in South Africa [1].
In conclusion, Squirrel Away is transforming thoughtful gifts into meaningful financial contributions, providing an accessible way to build generational wealth in South Africa. By simplifying gifting and promoting responsible financial habits, Squirrel Away is making a significant impact on the financial landscape of the country.
With Squirrel Away, users can invest in a child's future by contributing to Exchange-Traded Funds (ETFs), making long-term investing a common practice similar to buying a toy. The app encourages community-based investing through a user-friendly platform that eliminates financial jargon and complicated forms, promoting financial inclusion in South Africa.
