Ugandans can now access a Fintech platform that allows them to make cross-border investments into equities markets in the United States.

This follows Fintech start-up Chipper Cash’s integration with digital trading finance platform, DriveWealth.

Chipper Cash recently attained a US$1-billion valuation that catapulted it into unicorn status.

It has integrated with DriveWealth’s API-based equities brokerage infrastructure to enable “the Ugandan population to gain affordable access to investing in US equities”.

The companies assert that Africa has a large unbanked population that has driven interest in Fintech start-ups.

Investment prospects for Africa-based investors into stock markets in the United States currently requires “high minimums and was only accessible for high net worth” individuals, leaving out “much of Uganda’s population.”

The partnership looks to address this and provide the required access.

“We are excited to add investing in US equities to our platform to complement our initial offerings of peer-to-peer transactions and cross-border payments,” said Ham Serunjogi, CEO of Chipper Cash. “The US market is now easily accessible to all members of the Ugandan population. This will enable citizens to improve their financial well-being and become owners of their financial futures.”

Under the new partnership, Ugandan investors will be able to invest into equities in the US “on a dollar equivalent basis (through fractional shares) in over 6,000 US securities and ETFs” allowing consumers to invest with no minimum requirements.

Bob Cortright, founder and CEO of DriveWealth, said, “What Chipper Cash has been able to accomplish in its few short years is helping Africans to access a range of financial services inexpensively from their phones. Equipping underserved investors with the tools they need to break down the barriers to investing is a critical step towards democratising investing worldwide.”

This platform is scheduled to be rolled out in Nigeria and South Africa.