Xeno, a new investment company has launched in Uganda.
XENO uses technology to provide investment advice and management to individuals and institutions using an OnlinePlatform (www.myxeno.com).
On the platform, one can save for education, wealth, retirement pr anything they deem fit.
How Exactly the Platform Works
A person visits the xeno platform (www.myxeno.com) and identifies his financial goal which may include: secure investment, wealth generation, education funding, owning a home or simply generating income.
The person then answers questions about the investment period he wants, his current financial situation, investment experience and attitudes towards risks.
Xeno team then processes the information and determines how much one will have at the end of the investment period at the best or worst case scenario.
The information of one’s account can be modified forinstance when they deposit or withdraw from their bank account and can monitor every detail on their dashboard when they create an account.
Xeno delivers professional investment guidance and execution to the individual allowing keep control throughout the process.
How is the money generated?
Xeno invests for you the money using unit trusts whose income is exempt from taxes in Uganda for example buying shares in companies enlisted in the Uganda Securities Exchange and government treasury bonds.
While speaking at the press conference held at XENO offices in Kampala on Wednesday, XENO Technologies founder Aeko Ongodia, stated that the platform does not receive money from an individual.
“We don’t receive money but have Stanbic Bank as the custodian of the money”, he stated.
He also explained that the platform has been designed by people knowledgeable and experienced about investments and social security.
He revealed that over 250 people have joined the platform in a period of three months bringing the current investment base to Shs 1billion.
Inspiration behind the platform.
Aeko revealed that due to high demand by individuals who kept inquiring about how they can invest their incomes and live better lives inspired him and his team to start the company. By then, they were working with other organizations like NSSF which solely focused on helping companies.
XENO’s aim according to Aeko is to make investing effortless and accessible to all