Young Africans are increasingly turning to community-based investment models as traditional routes to wealth creation such as salaried employment and property ownership become less accessible, according to financial services platform Rank, which says it has paid out more than $100 million to users through collective investment structures over the past year.
This trend is being driven by Africa’s youthful population, rapid fintech adoption and widening gaps in access to formal investment products.
Industry experts have said young Africans may need to rely on collective financial models rather than traditional wealth-building pathways to achieve long-term financial security.
The experts argued that conventional routes to economic advancement, including stable salaried employment and property ownership, are becoming less effective for younger generations amid rising living costs, unemployment and limited access to investment opportunities.
Speaking at The Collective, a gathering of creators, entrepreneurs and investors, Femi Iromini, chief executive officer and co-founder of Rank, said Africa’s rapidly growing youth population presents significant opportunities for wealth creation if supported by the right financial structures.
