By Cynthia Ezekwe
Opportunik Global Fund (OGF), a private wealth fund giving Africans and diasporans access to global investments, has announced that it will launch its licensed fund in May 2023.
The company, in a statement, disclosed that the licensed fund is administered by Accuvise Administrators Limited, a registered fund administrator based in Mauritius, while noting that OGF will present a diverse mix of asset classes enabling investors to create wealth with minimal currency or political risk.
According to the statement, OGF was created to address African investors’ pain points, including high barriers to global deals, insufficient yield on smaller ticket sizes, ever-changing foreign exchange rates, and high inflation and taxation.
Citing the Henley & Partners’ Africa Wealth Report, the statement noted that a total of $2.4 trillion total investable wealth is held on the continent, with South Africa, Egypt, Nigeria, Kenya and Morocco accounting for more than half of Africa’s high-net-worth individuals.
“Statistically, the wealth management market in Africa is estimated to grow by 60 per cent in the next decade, driven by strong Asset under Management (AuM) growth in most major markets. This presents a good opportunity for middle-class Africans if given access to the same wealth management options made available to high-net-worth individuals,” it added.
OGF further disclosed that as one of the first private retail funds aimed at Africans, the multi-asset growth fund will provide low-entry barrier with a minimum investment of $5,000 and optional monthly subscriptions in multiples of $1,000; access to diversified asset classes and investment strategies in multiple financial markets; projected return of 10 to 20 per cent paid annually to investors’ bank accounts; 5-year tenure for the principal with an annual payment of returns; and the ability to track wealth journey and measure returns and financial growth
Commenting on the fund, Kola Oyeneyin, CEO of Opportunik Global Fund, said the fund was created to directly tackle the challenges many African investors face when looking for global investments.
Speaking further on the initiative, he said, “As an African-born fund, we recognise that the continent is full of wealth opportunities; however, there is a need to empower rising middle-class Africans with a platform to enable them to access new markets beyond the continent’s borders.
“At OGF, we help Africans create wealth and achieve financial independence. We are doing so by connecting investors to a global fund at a low entry barrier and with a healthy return. As we onboard retail and institutional investors before our official launch in May, we look forward to bridging the current wealth inequality gap.’’
Driven by an in-house team of fund managers located across African countries which includes South Africa, Nigeria, Kenya, and Zambia, OGF will work alongside Accuvise Administrators, which has over $216m in Assets Under Administration, and a proven track record of structuring and administrating investment funds.
The statement also added that applications to join OGF are actively open, with retail and institutional investors going through a rigorous Know Your Customer (KYC) and Know Your Business (KYB)process, respectively.
