FNB now offers customers Amazon, Netflix and Facebook shares for R10

Image: TechCentral

First National Bank has announced that individual consumers and institutional investors in South Africa will now have an opportunity to buy into major tech stocks from as little as R10.

FNB will be offering its clients a piece of some the world’s top-performing companies including Amazon, Facebook, Apple, Microsoft, Netflix, Tesla, Coca Cola and Google owner Alphabet.

The announcement follows the listing on the JSE of 10 FNB Exchange Traded Notes (ETNs) on 1 October 2020. These are exchange-traded instruments that provide investors access to a wide variety of wealth creation assets.

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Investors will be able to gain access to the shares through FNB’s share trading platform via FNB Online or the App.

“We are excited to scale our invest activities by providing our customers and investors at large an opportunity to broaden exposure to wealth creation assets,” says FNB CEO Jacques Celliers, “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.”

Sizwe Nxedlana, CEO of FNB Wealth and Investments and Ashburton, says: “Global fractional shares provide for an innovative product, designed specifically with financial inclusion in mind. Our aim is to drastically minimise barriers to entry for individual customers and institutional investors.”

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