Chipper Cash has launched in South Africa, bringing unlimited free domestic money transfers to locals, as well as a range of other financial features….
First National Bank (FNB) has announced that South Africans will now have the opportunity to buy shares for as little as R10 in companies such as Amazon, Facebook, and Netflix.
This is a result of 10 FNB Exchange Traded Notes (ETNs), listed on the JSE on 1 October, according to the bank.
This allows individuals to gain access to the shares through FNB’s share trading platform. You can log into the platform through FNB Online or the FNB App.
“Through FNB’s platform, customers have the opportunity to access both local and global shares which will allow them to diversify their portfolios during a very challenging time,” FNB CEO Jacques Celliers says.
The bank says that individuals in South Africa “will now have an opportunity to own shares from as little as R10 in some of the world’s best performing companies such as Amazon, Facebook, Apple, Microsoft, Netflix, Tesla, Coca Cola and Alphabet which owns Google”.
How you can buy shares with FNB App
To access FNB’s share trading platform, you will need to open an account with the bank.
This can be done on the bank’s website. However, you will likely need to provide certain FICA documents if FNB does not already have your documents.
Customers can sign up for self-managed stockbroking accounts with or without guidance services.
Once you have an account, you can transfer funds into it for trading.
You can then log into FNB Online or the FNB App to make investments.
You can find out more about accessing investment services on the FNB website.
Feature image: Memeburn