Influencers at Afrinvest roundtable speak on innovation and the Dangote IPO

The Nigerian capital market is currently witnessing a significant shift in how investment firms engage with the public. At a recent Financial Influencer Roundtable in Lagos, top executives from Afrinvest (West Africa) Limited took a bold step toward radical transparency.

Addressing a room of key voices in the finance ecosystem, the firm’s leadership, including Group Managing Director Ike Chioke and Deputy Managing Director Victor Ndukauba, tackled recent platform challenges head-on while outlining a high-tech future for Nigerian investors.

The conversation opened with a frank acknowledgement of a recent technical glitch that had caused significant friction for users. Rather than offering corporate platitudes, the leadership team emphasised that every concern raised during the period has been 100% resolved.

“At Afrinvest, we acknowledge our mistakes,” the firm stated, noting that they had undertaken a massive reconciliation exercise to ensure every client was accounted for. It explained that the primary hurdle in communicating during the crisis was not a lack of will but the constraints of operating in a highly regulated environment.

While social media users demanded instant answers, Afrinvest was locked in a mandatory consultation process with the Nigerian Exchange Group (NGX) and the Securities and Exchange Commission (SEC) to clear public statements.

To prevent a recurrence, the firm has re-engineered its backend. They have introduced “gates” in their integration with market middlemen. Previously, if an external exchange system failed, the firm might remain blind to the issue until the end of the trading day.

These new gates now automatically halt processes upon detecting a disconnection to safeguard the user’s assets.

Introducing Afrinvestor 2.0: beyond trading

Central to the firm’s recovery and growth strategy is the Afrinvestor 2.0 app. The platform has been enhanced to be more than just a trading portal; it is designed to be a wealth management hub for self-service.

Key improvements to the user experience include:

1. Instant OTPs: Resolving previous lags that prevented users from accessing their accounts quickly.

2. Enhanced Security: Seamless password reset processes that don’t require manual intervention.

3. Liquidity Management: For withdrawals under 500,000 Naira, the process is now instant. To handle bigger withdrawals and ensure security, the company has limited instant withdrawals to 1.5 million Naira per day (split into three batches of 500,000), while larger amounts need a quick internal approval from the compliance and finance teams.

Looking ahead, the app is set to evolve into a full-scale digital bank following the firm’s acquisition of a microfinance bank. This integration will allow users to have a bank account where their idle current account money earns the high yields typically reserved for investment instruments.

Victor Ndukauba, the deputy managing director, detailed how the firm is bringing “actionable intelligence” to the retail market. While professional analysts at Afrinvest spend their days performing “fundamental analysis”, examining company management, governance, and industry position, the average retail investor often lacks this time.

To bridge this gap, the firm is building advanced algorithms into the next iteration of the app. These tools will use machine learning to analyse market trends and provide personalised advice based on a user’s specific profile. For instance, the system will differentiate between a 25-year-old with a high-risk appetite and a 58-year-old approaching retirement who needs to protect their principal capital.

“We are combining the ‘Fin’ and the ‘Tech’,” Ndukauba explained, noting that while AI can provide insights, Afrinvest’s 30 years of “domain expertise” ensures the data is interpreted through the lens of Nigeria’s unique economic cycles.

Also read: Verto co-founder Anthony Oduu on solving Nigeria’s $30 billion e-commerce liquidity crisis

Thoughts on the Dangote Refinery IPO

Perhaps the most anticipated news for the influencers was Afrinvest’s positioning for the upcoming Dangote Refinery IPO. As one of the joint issuing houses for this landmark public listing, Afrinvest is leveraging its role to ensure retail investors have seamless access through their app.

“Afrivest today is well-positioned for the upcoming refinery IPO,” the firm confirmed, indicating that the Afrinvestor 2.0 app will be a primary gateway for Nigerians to participate in what is expected to be one of the most significant listings in the history of the NGX.

Ike Chioke, the Group Managing Director, closed the session by reminding the audience of the firm’s longevity. Managing over 1 trillion Naira in funds across various segments, including asset management, investment banking, and trustee services, Afrinvest remains a “systemically important” player in the Nigerian financial sector.

“We are not a wonder bank,” Chioke stated. Having operated since 1995, the firm’s message was clear: they have the resilience to survive market cycles and the technological ambition to lead the next generation of African wealth creators. By fostering this dialogue with financial storytellers, Afrinvest is not just fixing a glitch; they are rebuilding the very foundation of trust in digital investing.