Question: I want to start investing, How should I go about it ?, which app is better and which should I start with?
What amount should I start with?
Then which of them will I buy to receive dividends.
Fokona Latest Questions
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Question: I want to start investing, How should I go about it ?, which app is better and which should I start with?
What amount should I start with?
Then which of them will I buy to receive dividends.
As a beginner, the first step of investing is opening a brokerage account. A stockbroker is a financial professional who executes orders in the stock market on behalf of clients. Before opening a brokerage account, it is imperative to check if the broker is registered under the Security and ExchangeRead more
As a beginner, the first step of investing is opening a brokerage account.
A stockbroker is a financial professional who executes orders in the stock market on behalf of clients.
Before opening a brokerage account, it is imperative to check if the broker is registered under the Security and Exchange Commission (SEC).
List of some stockbrokers:
* Stanbic IBTC; * Afrinvest; * Investnaija; Chaka, Bamboo, Cowrywise, e.t.c.
Bamboo stockbroker requires a minimum amount of 5,000 in order to buy shares.
Honestly, it is imperative to start your stock market journey with an amount you can afford to lose.
Shares to buy in order to receive dividends:
1. Blue-chip stocks: These are shares of companies are large, strong, popular, and they also pay dividends. Such companies cannot collapse suddenly. Example of blue-chip stocks: MTN, Zenith bank, e.t.c.
As a beginner, receiving dividends is important to grow your wealth.
2. Ensure to check the liquidity status of the company before buying its shares: There are stocks of high liquidity and stocks of low liquidity. Liquidity is the ability of shares to be bought and sold fairly and quickly.
3. Check the total debt v net debt of the company: Total debt is the whole amount a company owes after adding its short-term debt and long-term debt, while net debt is the amount a company has to pay after using its available cash and cash equivalents to pay some part of its total debt.
A company whose net debt is very close or greater than its total debt is running at a risk.
4. Ensure to diversify: Diversification means spreading assets across various sectors, industries and geography. Do not invest all capital on one sector of shares. It is imperative to invest in the financial sector (bank shares), the Energy sector (oil & gas), Telecom sector ( MTN, e.t.c.), including the cement and consumer goods industry.
Diversification helps to spread risk and balance losses.
5. You can use the historical data of a company to check its support and resistance level.
The support level is the price shares falls to before buyers begin to buy, while the resistance level is the price shares rises to before sellers begin to sell off their shares.
The support and resistance level serves as a guide to know when to buy and sell shares.
See lessYou’re asking the right questions—this is exactly how serious investors start. I’ll give you a clear, practical roadmap tailored to Nigeria so you don’t waste time or lose money. Like our mentor Iking Ferry always said that I (quote) Let break it down in such a way even Mama Ngozi that sells pepperRead more
You’re asking the right questions—this is exactly how serious investors start. I’ll give you a clear, practical roadmap tailored to Nigeria so you don’t waste time or lose money.
Like our mentor Iking Ferry always said that I (quote) Let break it down in such a way even Mama Ngozi that sells pepper 🌶️ at Uboro Afor market will understand.
🔹 1. How You Should Start Investing (Simple Plan)
Forget complexity. Start like this:
Step 1 → Start with low-risk investments
Money Market Fund (safe, stable)
Learn how investing works
Step 2 → Add dividend-paying stocks
For income (cash flow)
Step 3 → Later add growth investments
Stocks, ETFs, etc.
👉 This prevents beginner mistakes
🔹 2. Best Apps to Start With (Nigeria)
🥇 For Beginners (Start HERE)
➤ Cowrywise
Invest in money market funds & mutual funds
Start with as low as ₦1,000 �
Konnect
Automated investing available
Very beginner-friendly
👉 Best for: safe start + learning
➤ PiggyVest
Easy savings + fixed income investments
Start from about ₦500–₦5,000 �
Konnect +1
Good discipline tools (AutoSave, SafeLock)
👉 Best for: discipline + steady returns
🥈 For Buying Shares (Important for dividends)
➤ Bamboo
or
➤ Trove
Buy Nigerian & foreign stocks
Access dividend-paying companies
👉 Best for: real investing + dividends
🔹 3. Which App Is “Better”?
👉 No single best app—use combination:
Start with Cowrywise → safety + learning
Add Bamboo/Trove → stocks & dividends
👉 That’s how smart investors do it
🔹 4. How Much Should You Start With?
Be realistic.
🔸 Minimum (Beginner Level)
₦10,000 – ₦50,000
🔸 Comfortable Start
₦50,000 – ₦200,000
🔸 Strong Start
₦200,000+
👉 The key is consistency, not amount
Even ₦5k monthly works.
🔹 5. What Should You Buy First?
🟢 Start with THIS:
Money Market Fund
Safe
Earns daily interest
No stress
👉 Available on Cowrywise
🔵 Then Add:
Dividend Stocks (VERY IMPORTANT for income)
Examples in Nigeria:
Zenith Bank Plc
Guaranty Trust Holding Company
MTN Nigeria Communications Plc
Dangote Cement Plc
👉 These companies:
Pay dividends yearly or twice yearly
Grow your money over time
🔹 6. How Dividends Work
If you buy shares:
Company makes profit
Pays you cash (dividend)
Example:
Invest ₦100,000 in Zenith Bank Plc
You may earn ₦8k–₦15k yearly dividends
👉 Plus share price growth
🔹 7. Simple Beginner Portfolio (VERY PRACTICAL)
If you have ₦100,000:
₦60,000 → Money Market Fund (Cowrywise)
₦40,000 → Dividend stocks (Bamboo/Trove)
If ₦50,000:
₦30,000 → Money Market
₦20,000 → Stocks
🔹 8. Golden Rules (Don’t Ignore This)
✔ Start small
✔ Invest every month
✔ Avoid “get rich quick” platforms
✔ Stick to regulated platforms
✔ Be patient (real money takes time)
🔹 Final Straight Answer
Best app to start: Cowrywise
Best amount: Start from ₦10k–₦50k
First investment: Money Market Fund
For dividends: Buy stocks like Zenith, GTCO, MTN
See less