Cowrywise has digitized savings in ways which are seamless and easy.  We know what saving entails without a digital platform like ‘CowryWise.’  The popular ‘kolo’ the wooden box with a tiny gash at the middle, where you can squeeze your daily 200, 100, 500 naira change through. Most of us had made resolution to save more aggressively, but we are yet to pull that off. Constraints could be that we don’t know how to start, how to curtail our spendthrift activities, or stop the habit of spending randomly.  Don’t know where to start? Then, start with Cowry wise, the best way to save money smartly. There are things you need to know before you start saving with cowry wise. Firstly:

What’s CowryWise?

CowryWise is a digital platform that allows its users to save money electronically. It is an automated and secure platform, which offers you high returns from risk-free investments in Nigeria with zero fees, charges and no penalties. And it also provides options on how to you can manage your finances.  Unlike the normal kolo, Cowrywise takes away the stress of breaking and squeezing little changes into a wooden box. Moreover, your savings generate interests till a set maturity date.


What is the saving and investment plans you get on Cowrywise?  


Life goals:  

This option on cowry wise is to allow you meet your long term financial goals. What life goals do you have? Is it to buy a house or a car? With the life goal plan, you can map out money for such commitments. They mature in one year.

Save as you earn:

The save as you earn plan is perfect for freelancers or people with irregular earnings. It is not an automated savings; they can only be topped manually. This works for people who are not regular salary earners.

Fixed Plans:

Fixed plans lets you save a huge sum of money for at least three months.  Unlike the save as you earn plan it can’t be topped up manually. It works well when you need to save up for emergencies.

Interest-free Plans:  

These plans are mainly for Muslims who don’t want to earn interest on their savings. They can be set up as life goal, save as you earn, periodic or fixed plan. Nevertheless, they don’t attract any interest.

Periodic Plans:

Periodic plans allow you to save weekly, daily, or monthly for at least three months. It is an automated savings. On specific days, money is topped up automatically and randomly into your cowrywise account.


Things you didn’t know about CowryWise.

  • Your cowry wise platform offers you return up to 15% per annum on risk-free investments.  With cowry wise, you can invest with a minimum capital, treasury bills and government bonds are the safest investments in Nigeria.  They make it possible for everyone to benefit from government bonds.


  • CowryWise is part of the prestigious YCombinator Summer 2018 Batch. As a member of a Ycombinator, they get $120,000 investment, in return for 7% of the company. And they also receive mentorship support from the YCombinator’s network of investors.


  • Cowrywise was founded by Razaq Ahmed, CEO and Co-founder, and Edward Popoola, CTO& Co-founder.  Razaq Ahmed worked as a Business Analyst in Shell and Investment Analyst in Vetiva Capital Management and Meristem Securities. While Edward Popoola, worked for African Advantage, a pan-African Telco servicing Company and Interswitch.
  • You get a minmum 10% per annum return on a daily basis for your savings. This is more than the 4.2% that banks give  you on your savings account. You only get that interest when you don’t withdraw more than four times.
  • It  is registered in Nigeria with the CAC. They are licensed as a Cooperative Society and  have a partnership with Meristem Trustees – one of the top trustees in Nigeria.
  • They offer free and tailored financial advisory to their  users.  To discuss any financial issues, they can be reached at
  • Meristem Trustees monitors all the investment you make daily. They checkmate how Cowrywise invest the funds and make sure that you earn the right returns.  However, having Meristem Trustees as its security structure means your funds are secured.



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