<\/p>\n
EasyEquities \u2013 part of JSE-listed Purple Group and South Africa\u2019s largest online retail investing platform \u2013 has struck a partnership deal with \u2018big five\u2019 banking group Absa, aimed at expanding its reach to an even broader market.<\/p>\n
It announced the deal on Thursday, saying that \u201cthe new partnership will give\u00a0Absa\u2019s more than 12 million clients direct access to invest through the\u00a0Absa\u00a0app\u201d.<\/p>\n
Read: EasyEquities fuels strong earnings growth at Purple Group<\/p>\n
EasyEquities already has similar partnerships with other banks, such as Capitec and Discovery Bank. The low-cost digital investment platform has become very popular with retail investors due to it having no minimum investment amounts, low brokerage fees, and offering fractional share rights that allow users to buy portions of expensive shares on the JSE and international markets that they may not ordinarily have access to.<\/p>\n
ADVERTISEMENT<\/p>\n
CONTINUE READING BELOW<\/p>\n
The group describes its latest agreement with Absa as \u201ca partnership already in motion\u201d \u2013 noting that the two groups client bases already overlap significantly.<\/p>\n
It says its \u201cdata shows that approximately 125 000 EasyEquities clients are linked to\u00a0Absa\u00a0through an\u00a0Absa\u00a0bank account,\u00a0Absa\u00a0Pay or registered\u00a0Absa\u00a0banking details. EasyEquities is also home to around 30\u00a0000\u00a0Absa\u00a0shareholders and nearly 20 000 investors who hold\u00a0Absa\u00a0investment products.\u201d<\/p>\n
Read:<\/p>\n
The group says go-live on its partnership with Absa is scheduled for September, with \u201cfull detail on the product, client experience and launch date\u201d set to be shared closer to the time.<\/p>\n
Charles Savage, CEO of Purple Group and EasyEquities, says the new partnership gives\u00a0Absa\u00a0clients a simple way to start investing directly through a platform they already trust and use.<\/p>\n
\u201cOur mission is to make access to markets available to more people, because markets remain one of the most effective ways to grow and protect wealth over time,\u201d he adds.<\/p>\n
ADVERTISEMENT:<\/p>\n
CONTINUE READING BELOW<\/p>\n
Sitoyo Lopokoiyit, chief executive of Personal and Private Banking for Pan-Africa at Absa Group, says:\u00a0\u201cThis partnership builds on a natural connection between Absa and EasyEquities. Many Absa clients already invest through EasyEquities, while many EasyEquities users are connected to Absa as shareholders, clients or investors in our products.<\/p>\n
\u201cBy bringing the experience into the Absa app, we can make investing simpler and more accessible for more of our clients.\u201d<\/p>\n
Absa and Purple Group share prices<\/p>\n
#Purple #Groups #EasyEquities #Absastrike #digital #investing #deal<\/p>\n","protected":false},"excerpt":{"rendered":"
EasyEquities \u2013 part of JSE-listed Purple Group and South Africa\u2019s largest online retail investing platform…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[18865,110,2190,18864,3427,40,16989],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/13040"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13040"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/13040\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}