It ends this November!

I’ve followed ARM on Facebook for some time now, thanks to my wife. Every month, they post something (meme or article) about ‘payday’ that taunts me to no end.

It’s almost as if they are looking me in the eye and speaking to my very soul. I am constantly made to evaluate my choices especially regarding saving and investing…which really isn’t a bad thing.

I have been bad at managing my salary and the small change that comes in from my side hustle. As a husband and father to two lovely children, I spend every dime that comes into my account on life’s necessities. My wife is the one with the saving mentality. Every month, she makes it a point to tag me on financial freedom quotes.

I read them and sneer: “This woman will not understand. How does she want me to save with all these responsibilities weighing me down?”

I always have excuses despite her support financially. But the recent article I read stuck with me doing strange things to my mindset. My take-away from that article was this: Will my wife and children have the life they do now, if God forbid something happens to me?

Not that I want to die o, God forbid. But the reality is that death does not take permission before visiting anyone.

This November, as I count the days to the grrrring sound of my salary alert and the payment from my side hustle, my plan is crystal clear. No major flexing this Christmas o… Something light can still work for us all.

I’m done procrastinating and feeling guilty with every ‘payday’ post I see on Facebook. I need to take action now.

———-

Ready to join me in making the best move for your family today? Explore policy options here today.

The post It ends this November! appeared first on Realising Ambitions.

Source: Blog

In the news: CBN pumps $210m into the FX Market

In the news: CBN pumps 0m into the FX Market

This Day

CBN Intervenes in Forex Market with Fresh $210m

The Central Bank of Nigeria (CBN) on Monday injected another $210 million into the interbank foreign exchange market in its bid to boost liquidity in the market.

Year-to-date Growth Hits 39.6% as Stock Market Rebounds

The stock market returned to positive territory yesterday as it reversed the negative performance of the first trading day of the week.

Saraki Accuses Anti-graft Agencies of Looting Recovered Funds, Property

The Senate President, Dr. Bukola Saraki, Tuesday accused anti-graft agencies of looting funds and property recovered from corrupt persons.

FIRS Hits 79.35% of 2017 Collection Target in 10 Months, Says Fowler

The Federal Inland Revenue Service (FIRS) has said in Abuja that it generated N3.233 trillion in 10 months, an amount that represented 79.35 per cent of its collection target for 2017.

NNPC Targets 15% Downstream Market Share, Builds Three New Mega Stations

The Managing Director of the Nigerian National Petroleum Corporation (NNPC) Retail Limited, Mr. Yemi Adetunji, on Tuesday disclosed that the downstream retail subsidiary of the corporation has set its sights on taking and satisfying about 15 per cent of Nigeria’s downstream petroleum market share in the next one year.

Imo Assembly Boycott 2018 Budget Presentation

For the first time in the life of the Imo State House of Assembly since the current administration of Governor Rochas Okorocha, the Assembly would in unison raise issues of concern to the governance of the state and wellbeing of the people as members yesterday boycotted the presentation of the 2018 budget proposal scheduled for 10a.m. at the Assembly Complex.

Punch

FG opts against $550m Chinese loan for communications satellites

The Federal Government has backed out of a plan to take a loan of $550m from the Chinese Export and Import Bank for the construction of two new communications satellites.

Discos’ force majeure notice jeopardizing power generation

The force majeure notice recently issued by power distribution companies and their disapproval of the eligible customer regulation of the Nigerian Electricity Regulatory Commission are jeopardizing power production in the country.

Senators, Reps pick holes in 2018 budget proposal

Both chambers of the National Assembly have berated the Federal Government’s 2018 budget proposal, saying its assumptions are unrealistic.

Amnesty wants Shell probed for alleged abuses in Ogoniland

Amnesty International on Tuesday said Royal Dutch Shell Plc should face investigations in three countries for alleged complicity in human rights abuses, including murder and rape, committed by the Nigerian military government in the oil-producing Ogoniland region in the 1990s.

The Nation

Import prohibition attracts $10b investment, says CBN

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, said the import prohibition policy of the apex bank has attracted investment valued at $10billion into the country.

Pension fund hits N7.2tr

Nigeria’s pension fund assets under the  Contributory Pension Scheme (CPS) have hit N7.164 trillion– as at September  from the N7.094 trillion recorded in August.

Adeosun: only 40m Nigerians pay tax

Out of 70 million taxable adults in Nigeria, only 40 million pay taxes, the Minister of Finance, Mrs. Kemi Adeosun has said.

UACN eyes mergers, acquisitions with new equity capital: With 10 subsidiaries in key sectors of the Nigerian economy, Nigeria’s largest and oldest business conglomerate, UAC of Nigeria (UACN) Plc will consider new acquisitions and mergers to further optimise the values of its existing businesses and take advantage of emerging opportunities in other sectors.

Guardian

Foreign capital inflow hits $4.145b in Q3, says NBS

The National Bureau of Statistics (NBS) has said that the capital importation into the county recorded an increase to $4.145 billion in the third quarter of 2017.

Continued importation of dirty fuel raises fears

Experts warn of health and economic consequences following Federal Government’s failure to meet deadline on importation of high sulphur (dirty) fuels.

Vanguard

Interbank money market resists N90bn liquidity mop up

Efforts by the Central Bank of Nigeria (CBN) to mop-up liquidity from the interbank money market proved abortive as the N90 billion treasury bills (TBs) issued on Monday was undersubscribed by 47 percent.

Reuters

OPEC heading for oil cut extension with a caveat

OPEC and Russia are heading towards prolonging their oil supply cuts for the whole of 2018 but with an option to review the deal in June.

 

The post In the news: CBN pumps $210m into the FX Market appeared first on Realising Ambitions.

Source: Articles

Three key things to do before the year runs out…

Three key things to do before the year runs out…

It does not matter if 2017 was a blast or not, 2018 is almost here and is all yours for the taking. These pointers will not only help you wrap up 2017 in style, they will help you usher in 2018 with a bang. Check them out;

  1. Review

What kind of year did you have? Were you able to achieve the goals you set? Did you get to spend quality time with your family as you purposed to at the beginning of the year? Did you get that certification or promotion you were gunning for? Or start that business you were thinking about? What about your finances? Were you able to stick to that savings plan? What debts are you carrying over? What financial goals are you postponing? It’s time to take an honest look at the year that’s wrapping up. Celebrate your victories, acknowledge the mistakes, and tie up loose ends.

  1. Refresh

You absolutely deserve it. For every challenge you took on, every victory you recorded, every disappointment you survived, for every step you took in the direction of your goals; you deserve to spoil yourself a little. Take some time to do something you love, something that refreshes you. An evening out with your kids, time out at the movies, a no-stepping-out-of-my-room day, binge watching your favourite series, a little splurging at the mall, whatever makes you feel relaxed and happy. Be careful not to eat into next year’s resources as you pamper yourself though, take a realistic look at how much you can afford and do something nice for yourself.

  1. Regroup

A new year means you get an awesome fresh start at making things right and getting the life you want. This year, take it beyond just plans, put things in place to ensure time doesn’t just run by. Don’t just decide to start a new business this year, work on the business plan or talk to someone who can help. Don’t just make up your mind to spend more time with your family, put up reminders on your calendar. Do more than just deciding to stop that destructive habit, get an accountability partner to help you stay on track. Instead of just planning to manage your money better, look up suitable investment opportunities for you and set up a direct debit order to ensure your investments are consistently serviced year-round. In 2018, go beyond wishing, thinking, or planning, be deliberate about your decisions.

Here’s wishing you a year that is better than you can wish for. Remember, we are only a call or email away and we are always willing to attend to your enquiries or concerns. You can reach us on [email protected] or 0700 CALL ARM.

Have a fantastic year!

The post Three key things to do before the year runs out… appeared first on Realising Ambitions.

Source: Articles

Personal Finance with Raphael- Amaka wants more…

Personal Finance with Raphael- Amaka wants more…

Mr. and Mrs. Ojekwe taught their Children early in life to save money with the use of a piggy bank. Their second child, Amaka, who is now a 29-Year-old Banker, took to this habit and has now turned into a prudent saver. Amaka saves a certain percentage of her earnings in a traditional savings account monthly. At the beginning of every year, she always has a mental idea of what she wants to achieve with her hard-earned money and spends the savings meeting her financial goals as it crosses her mind in no order of priority. Now she’s bugged down with worries because something in her keeps telling her that she can do better with her savings and the achievement rate of her goals, but she does not know how!

What are financial goals?

Financial goals are objectives that you want to achieve with your Finances. They are personal goals that have financial cost attached to them. We have various financial goals at different stages in our lives. Just like everyone of us, Amaka has a lot of financial goals running through her mind and she needs to create a plan that would help her achieve these goals and ensure her money is working harder than it is currently doing.

How can Amaka get more?

The first thing Amaka needs to do is to identify and be clear on her goals. She needs to write down these goals. Her goals could be buying a car, creating an emergency fund, planning for her master degree abroad, paying her children school fees, paying for house rent, planning for vacation, buying groceries for the home etc.

Secondly, she should align each of these goals with the SMART acronym. SMART  being Specific (Specific and clear goal as much as possible), Measurable (measurable and quantifiable so that you know when you can achieve it), Achievable (attainable based on current facts and situations. Not on assumptions and conditions), Realistic (choose a goal that is realistic which is not a distant fantasy) and Time bound (have a clear timeframe in mind which would enable the achievement of your planned goals).

Thirdly, she needs to understand the significance of each goal and prioritise them appropriately. She needs to avoid all distractions in pursuit of the goals because it is not an easy task achieving financial goals. She needs to be disciplined even though she might not be able to achieve all her goals.

Finally, she should categorise her goals into short term goals (goals to achieve between 0-2years), medium term goals (goals to achieve between 2 -10years) and long-term goals (goals to achieve above 10years). She should save for her short-term goals with short term savings instrument, medium term goals with medium term savings instruments and long-term goals with long term savings instrument. Amaka put all her savings in a traditional savings account regardless of the tenure and priority. This would not maximise the potential growth of the savings towards the different categories of goals. Funds for short term goals should be invested in short term investment instruments such as savings account, money market fund, treasury bills etc. Funds for medium term goals should be invested in medium term investment instrument such as balanced mutual fund and money market fund while savings for long term goals should be invested in long term investment instruments such as stocks, equity based mutual funds and real estate. This break down of goals would ensure that the savings are working harder than just saving every money in one instrument.

We hope these steps would clear Amaka’s worries and make her desire towards achieving her financial goals an improved success.

The post Personal Finance with Raphael- Amaka wants more… appeared first on Realising Ambitions.

Source: Articles

In the news: Equities market rebounds on bargain hunting

In the news: Equities market rebounds on bargain hunting

Punch

CBN sacked bank directors over non-performing loans – NDIC

A number of bank directors have been fired by the Central Bank of Nigeria following cases of insider abuse relating to non-performing loans, it has been learnt.

FG reviewing companies’ tax profiles, says Adeosun

The Federal Government has said it is reviewing the tax profiles of companies that received major payments from it in the last five years.

Global Spectrum set to list shares on NSE

Energy firm, Global Spectrum Energy Services Plc, is set to list its shares on the Nigerian Stock Exchange.

FCMB grows profit by 64% in three months

FCMB Group Plc has recorded a 64 per cent  rise in its profit before tax for the third quarter of 2017 compared to the second quarter ended June 30, 2017.

FG targets N62.5bn from luxury cars, cigarettes, alcohol’s duties

The Federal Government has proposed to generate additional N1tn non-oil revenue to reduce the deficit and loans in the 2018 budget.

This Day

UAC Shops for N15.4 Billion from Existing Shareholders

UAC of Nigeria Plc is currently shopping for N15.37 billion fresh capital from existing shareholders to boost its operations so as the record improved performance and deliver competitive returns to shareholders in the years ahead.

CBN Injects $498m in Forex Market in One Week

The Central Bank of Nigeria (CBN) last week raised the tempo of its foreign exchange (forex) intervention in the interbank market to a total of $498 million.

Equities Market Rebounds on Bargain Hunting

The Nigerian stock market rebounded last week following improved sentiments as more investors embarked on bargain hunting.

FG Defends Plan to Engage Malaysian Consultants for ERGP

The Senior Special Assistant to the President on the Economic Recovery Growth Plan Implementation (ERGP), Dr. Effiong Essien has defended the move by the federal government to engage Malaysian experts to drive the implementation of the ERGP.

IEA: Lower Supply from Nigeria, Algeria, Iraq Dipped October OPEC Output by 80,000bpd

Due mainly to lower supply from Nigeria, Algeria and Iraq, the OPEC crude output in the month of October dropped by 80,000 barrel per day, the Oil Market Report for November has revealed.

CBN Calls for Enhanced Collaboration against e-Fraud

The Central Bank of Nigeria (CBN) has stressed the need for increased collaboration and industry engagements in order to tackle cases of electronic fraud in the economy.

Guardian

Stockbrokers call for forex discount window

For the capital market to witness improved liquidity that would spur activities in the nation’s bourse and attract more investments, operators unanimously stressed the need for the Central Bank of Nigeria (CBN) to grant stockbrokers access to foreign exchange discount window.

BoI plans increased lending to food sector for enhanced production

The Bank of Industry (BoI) has concluded plans to increase lending to stakeholders in the food industry, as part of measures to boost food production in the country and help the Federal Government achieve the 3.5 per cent Gross Domestic Product (GDP) target in 2018.

Why CBN retains rates, by Godwin Emefiele

Contrary to speculations that the Central Bank of Nigeria (CBN) is afraid of taking risks by retaining monetary policy rates (MPR) at the same level for the eighth time consecutively, the apex financial sector regulator has said its actions are based on researches that it conducted.

500 prominent Nigerians get tax status letters today

Tax status letters will be issued to no fewer than 500 high net-worth Nigerians by the Ministry of Finance today.

Finance ministry alleges blackmail over import duty waivers

The Minister of Finance, Mrs. Kemi Adeosun, has accused some importers and Non-Governmental Organisations (NGO) of planning to blackmail the ministry over import duty waivers.

FG, firm sign power purchase agreement on 40mw

The Federal Government has signed Power Purchase Agreement (PPA) with Mabon Nigeria Limited, which is currently executing 40 megawatts hydro-power project.

The Nation

Only 18 states have complied with TSA, says NGF

No fewer than 18 of the 36 states of the federation and the Federal Capital Territory, FCT, Abuja, may have fully complied with the Treasury Single Account (TSA) mandate of the federal government.

NNPC fails to remit N1.7tr into Federation Account

The Federation Account Allocation Committee (FAAC) meeting was called off last Thursday over the non-remittance of about N1.78 trillion into the government’s coffers by the Nigerian National Petroleum Corporation (NNPC).

$9b interventions strengthen naira, forex market

Dollar injections into the economy estimated at $9 billion since February have helped the Central Bank of Nigeria (CBN) to achieve long-term naira stability and curb volatility in the foreign exchange (forex) market.

Vanguard

FG targets $1bn from tax amnesty scheme

The Federal Government is targeting to rake in about $1 billion from the on-going Voluntary Income and Asset Declaration Scheme, VAIDS, before the deadline on March 31, 2018.

Insurers seek additional capital in preparation for RBS

Insurance firms with inadequate shareholders’ funds have commenced moves to raise additional capital in preparation for the next phase of implementation of the Risk Based Supervision (RBS) by the National Insurance Commission, NAICOM.

Business Day

Nigeria IPO drought leave banks as only major capital source

Nigerian companies have largely snubbed the capital market as a source of funding over the past two decades, a situation which is increasing risks in the banking system and wider economy.

 

The post In the news: Equities market rebounds on bargain hunting appeared first on Realising Ambitions.

Source: Articles

How to stay safe online

How to stay safe online

Have you or anyone you know ever been a victim of cyber-attack? It can get ugly especially when it means you lose valuable information/documents or even money to internet fraudsters.  You can prevent these online attacks by knowing what to do to stay safe while you use the internet.

These tips will help you stay safe online.

 

At ARM, the acceptable means of payment are cheques, bank transfers & online transfers. If you suspect any unusual activity on your account or in your dealings with ARM Investment Managers, we advise that you kindly call 0700WHISTLEBLOW (070094478532569) or click here to file a report.

The post How to stay safe online appeared first on Realising Ambitions.

Source: Articles

In the news: Lagos Pays N141bn to Bond Subscribers

In the news: Lagos Pays N141bn to Bond Subscribers

Punch

NERC rejects force majeure notice by power firms

The Nigerian Electricity Regulatory Commission on Tuesday rejected the notice of declaration of force majeure that was recently issued to the Federal Government by the 10 electricity distribution companies in the country.

Reps query bid to spend $1.8bn on refineries

The House of Representatives on Tuesday queried the viability of further expenditure on the country’s four refineries and the daily allocation of 445,000 barrels of crude to the facilities.me.

NNPC completes 539km of gas pipelines

The Nigerian National Petroleum Corporation on Tuesday said it had so far completed 500 kilometres of gas pipelines between 2010 to date as part of measures to expand gas pipeline infrastructure across the country.

Nigeria, US, Japan seal investment, social development pacts

Nigeria and Japan on Tuesday signed a grant aid project on economic and social development worth N642m. The amount will be provided by the Japanese government.

9mobile to get new investor by year-end — Emefiele

The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said that the intervention of the apex bank and the Nigerian Communications Commission in the 9mobile loan repayment saga, was due to the systemic importance of the company.

This Day

FMDQ OTC Exchange Records N115trn Transactions in 10 Months

Trading in the secondary segment of the fixed income and currency markets operated by the FMDQ OTC Securities Exchange remained upbeat, recording transactions worth N115 trillion from January to October 2017.

Lagos Pays N141bn to Bond Subscribers

The Lagos State Government tuesday disclosed that it had paid a total sum of N141.59 billion to bond holders in its various fixed rate bond programmes.

FCMB Group Completes 88.2% Acquisition of Legacy Pension Managers

FCMB Group Plc has successfully completed the acquisition of additional 60 percent equity stake in Legacy Pension Managers Limited (Legacy).

Guardian

NERC extends Shell JV’s Afam VI power licence by 10 years

The Nigeria Electricity Regulatory Commission (NERC), has renewed the power generation licence for Afam VI Power Plant, a 650MW-capacity facility that has delivered over 24.16 million Megawatt-hour (MWh) of electricity into the national grid between inception in 2008 and 2016.

NSEs market capitalisation plunges by N61 billion

Price losses outweighed gains on the equity sector of the Nigerian Stock Exchange (NSE) yesterday, as most blue chip stocks depreciated in price, causing market capitalisation to plunge by N67billion.

The Nation

Fed Govt submits revised MTEF to Senate

The Federal Government yesterday submitted a revised version of the 2018 to 2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate for consideration and approval.

Reps to govt: stop sale of PHCN assets

The House of Representatives has urged the Federal government to stop further sale of some assets of the Power Holding Company of Nigeria (PHCN).

The post In the news: Lagos Pays N141bn to Bond Subscribers appeared first on Realising Ambitions.

Source: Articles

Rising Tide Africa launched with ARM at African Angel Investment Summit

A group of experienced international business, Angel Investment angels and women investors from Africa, Europe and the USA have come together with ARM Securities Ltd. and ARM Trustees Ltd. to create “Rising Tide Africa”, (RTA) a unique, trans-border women-oriented investment program and funded by private investors who believe they will bring about positive change by investing in the continent’s exciting start-ups and next generation to create a New Africa.  The investments will range from 50 K USD to 500 K USD but always with the goal of bringing about a positive change.

Rising Tide Africa will be powered by ARM Securities Limited and ARM Trustees Limited, both members of the ARM Group which have been leading investments in entrepreneurial ventures and are dedicated to bringing about a better Africa.  In particular, ARM Securities will be bringing its financial advisory experience to help power “Rising Tide Africa” and will also share deal-flow on a case-by-case basis.

RTA shall be a leading and pre-eminent managed investment pool primarily focused on investments in digitally and technology-enabled companies.  This will bring a quantitative as well as qualitative return to improving the lives and lifestyles on the African continent, by, for example, providing access to health, education, energy, water, agriculture, commerce, transport, and several communications services and infrastructure. RTA will also be actively involved in the promotion of investment literacy among women in Africa.

It is intended that RTA shall be a preferred equity partner in Africa and a first mover in technology and digitally-enabled, early-stage technology investing in most parts of Africa. RTA seeks to pursue investment opportunities that have the potential to yield strong financial returns and significant impact in Africa.

RTA seeks to offer women an opportunity to build a diversified portfolio of early-stage investments in innovative African companies as well as training opportunities for women to become sophisticated angel investors, and networking with other women in this one of a kind angel community.

 

Rising Tide Africa” is by far the most ambitious incarnation of the “Rising Tide/Next Wave” movement which aims to bring experienced women private angel investors together with experienced business and corporate women executives who are investing for the first time. The movement originally started in the USA in 2015, followed in quick succession one month later in Europe with Rising Tide Europe 1 and 2 and now Rising Tide Africa.  Several of the Rising Tide Europe Board Members, Deal Leaders and LPs are involved in the setting up Rising Tide Africa.

The President of Rising Tide Africa is Dr Ndidi Nnoli Edozien (Nigeria) and the Board Members are Rebecca Enenchong (Cameroon), Evelyn Oputu (Nigeria), Hedda Pahlson-Moller (Sweden), Olayemi Wonuola Keri Crisc, (Nigerian), Clementine Vervelde (Rwanda), and Isabelle de Melo (Mauritius/Swiss) and a Representative from the ARM Group.  The Investment Committee Members are Brigitte Baumann (Swiss), Candace Johnson (USA/France/Luxembourg), Audrey Mothupi (South Africa) and Lexi Novitske (USA/Nigeria). ARM Securities Ltd and ARM Trustees Ltd. will also be represented in the Investment Committee.

 

Quotes:

Dr Ndidi Nnoli Edozien, President of Rising Tide Africa:  “It is my privilege to play a founding role inspiring this Movement of Investors from diverse backgrounds, co-investing with a shared vision to harness, develop, educate, mentor and network across borders, while nurturing scalable, replicable ventures that contribute to sustainable economic growth across our great continent Africa, most excitedly powered by some of the world’s most courageous Women.”

 

Jumoke Ogundare, Group CEO, Asset & Resource Management Holding Company Ltd.:  “We are proud to be associated with the RTA and support its raison d’etre of bringing together women, innovation and business. This combination would undoubtedly stimulate economic growth in Africa.”

Tomi Davies, President ABAN: “We at ABAN are very happy to support such an innovative approach to investing on the continent.  With RTA our women take their rightful place in contributing to the advancement of the African entrepreneurial ecosystem.  I am proud that ABAN is able to help make this happen and commend the initiators of this laudable project.”

 

Candace Johnson, President EBAN: “It is an honour to work with ABAN, the ARM Group, and Go-Beyond to create ‘Rising Tide Africa’.  We are looking forward to making great investments together which will bring about a ‘New Africa’.”

 

Brigitte Baumann, Founder and Chair of Go Beyond: “We are delighted to support RTA, the first of its kind learning and investing program leveraging the experience gained with the Rising Tide Europe programs. “

 

Who is ABAN?

The African Business Angel Network (ABAN) is a pan African non-profit association founded early 2015 to support the development of early stage investor networks across the continent and to get many more (early stage) investors excited about the opportunities in Africa.

 

Who is ARM Securities Ltd?

ARM Securities Limited is a limited liability company licensed by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) as Issuing House and Broker-Dealer firm respectively. Formerly known as Hamilton Hammer, the Company commenced operations in 1994 and became a wholly owned subsidiary of Asset & Resource Management Traditional Asset Management Limited (ARMTAM) in 2008. ARM TAM is a member of the ARM Holding Company Limited, the largest, independent non-bank financial institution in Nigeria.  Under ARM’s leadership, the Company has successfully been repositioned as a recognized financial advisory and brokerage firm in Nigeria.

 

Who is ARM Trustees Ltd?

ARM Trustees Limited (“ARMT”), incorporated in October 1997, is a wholly-owned subsidiary of ARM Traditional Asset Management Limited (ARMTAM), a member of the Asset & Resource Management Holding Company Limited.  Licensed by the Securities & Exchange Commission (SEC), ARMT was incorporated to carry out a wide range of trusteeship services to Public sector, Corporates, Institutional and Private clients. ARMT’s corporate trust services include trusteeship under Private Equity structures, Loan Syndication/Consortium, Project/Structured Finance, Collective Investment Schemes, and Debenture Trust arrangements. The Company also renders private trust and estate planning services.

 

Who is EBAN?

EBAN is the pan-European representative for the early stage investor gathering over 150 member organizations more than 50 countries today. Established in 1999 by a group of pioneer angel networks in Europe with the collaboration of the European Commission and EURADA, EBAN represents a sector estimated to invest 7.5 billion Euros a year and playing a vital role in Europe’s future, notably in the funding of SMEs. EBAN fuels Europe’s growth through the creation of wealth and jobs.

 

Who is Go Beyond?

Go Beyond Investing enables novice & experienced, small & large investors, to access angel investing as an asset class through its unique platform, portfolio tools, education and expert angels. Go Beyond operates in Europe and the US. It has been in the top 10 Swiss FinTech startups in 2015 and 2016.  Go Beyond is managing the Rising Tide Europe 1 and 2 programs.

 

Personal Finance with Raphael: Dele’s dilemma

Personal Finance with Raphael: Dele’s dilemma

Dele’s dilemma

Dele was one of the lucky few who got what could be termed a good job not long after NYSC. Initially, he felt well remunerated as his income could easily cater to his needs. Barely a year after he got married, he began to notice a strain on his finances. His financial goals were increasing, life was getting more demanding and his income was no longer adequate.   At first, he focused on getting a promotion at work in the hope that a bigger salary will fill the gap. But even after the promotion came, it seemed like his needs also increased with his income. He recently just got to know that his wife is pregnant with their second child, and he is more concerned about his finances than ever. Is there a way to make his money work for him? Dele needs help….

It is obvious Dele needs a second income source. His work is however too demanding to afford him time to pursue other businesses. His only option is to put the money he currently earns to work, he needs to ensure his money is working as hard as he does.

How do you get your money to work hard for you?

Making your money work hard for you requires a bit of Mathemathics. If you have a goal that would cost you N200,000 in 24 months but could only save N5,000 conveniently every month beginning from today, your total savings at the end of 24 months would become N120,000. So, the next question is at what interest rate per annum would these savings grow to N200,000 at the end of 24 months. That is N120,000 savings in 24 months at N5000 monthly should grow at the rate of X to achieve N200,000. What is X? X is 4.18% per annum. You need an instrument that would preserve the savings and grow at a minimum of X.

Solving Dele’s dilemma

The first thing Dele needs to do is to set his financial goals and be clear on them- he needs to be clear on what he wants to achieve. He can also set his financial goals according to preference for achievement. Secondly, he needs to ascertain his financial status. That means he needs to be clear on his Net worth (his total assets minus liabilities). This would provide him with a position of how much he can conveniently set aside to achieve his set goals. To achieve this position of being able to set some money aside he needs to make use of a budgeting tool to capture every penny that is earned and spent.

The third step of making his financial dream come true is to break down his numerous goals into short term (0-2 years goals), medium term (2-10years goals) and long term (>10years goals). At this stage, he also needs to get a detailed understanding or knowledge of the various financial instruments that are available as they are specifically structured for the different categories of goals listed above.

Stage four requires Dele to implement his conclusion on choice of investment in stage three. Otherwise, he would bear the cost of procrastination! The final stage requires that Dele does not go to sleep after investing his hard-earned money but ensures he monitors and reviews regularly. He should review his short-term goals monthly, medium term goals quarterly or half yearly while annual review for his long-term goals.

I guess we have been able to solve Dele’s puzzle. He can get back to work and rest assured that his hard-earned money is working as hard as he does, and his growing financial goals are consistently achieved.

The post Personal Finance with Raphael: Dele’s dilemma appeared first on Realising Ambitions.

Source: Articles

In the news: Development bank to fund MSMEs

In the news: Development bank to fund MSMEs

Punch

NBS to release Q3 growth data as MPC meets today

The Central Bank of Nigeria’s Monetary Policy Committee will on Monday (today) and Tuesday hold its final meeting for the year, to deliberate on key issues affecting the economy.

Development bank to release more funds for MSMEs

The Development Bank of Nigeria has said it will enter into a strategic partnership with Deposit Money Banks and microfinance banks to enable it to release more funds to the Micro, Small and Medium Enterprises sector.

‘Nigeria earned N69.2bn from solid minerals in one year’

Nigeria earned N69.2bn from solid minerals in 2015, representing an increase of 24 per cent on the N55.8bn generated from the sector in 2014, the Nigeria Extractive Industries Transparency Initiative announced on Sunday.

NNPC, Chevron sign final phase of $1.7bn deal

The Nigerian National Petroleum Corporation and Chevron Nigeria Limited have executed the second and final phase of an alternative financing agreement expected to increase crude oil production in the country by about 39,000 barrels per day from the Sonam and Okan fields located in the OML 90 and 91 of the Niger Delta.

This Day

Market Turns Bearish on MSCI’s Reclassification

The Nigerian equities market reversed the gains recorded last week as foreign investors and domestic institutional adopted cautious trading and profit taking following the decision of Morgan Stanley Capital International (MSCI) to delete FBN Holdings, Forte Oil Plc, Guinness Nigeria Plc and PZ Cussons Nigeria Plc from its Main Frontier Markets Indexes.

Glo, Airtel, Dangote, Seven Others Advance to Final Stage in 9mobile Bid

The scramble to acquire 9mobile, Nigeria’s fourth largest network operator, has advanced to the next stage, with 10 out of the 16 firms that submitted expressions of interest (EoIs) for the telecoms firm, prequalified by Barclays – the financial adviser to the deal – to proceed to the financial bid stage of the exercise.

Afreximbank Raises $150m in Samurai Syndicated Term Loan Facility

The African Export-Import Bank (Afreximbank) has successfully completed its first ever Samurai Syndicated Term Loan Facility, raising the equivalent of US$150 million, comprising two tranches of Japanese Yen 6.2 billion and US$100 million.

Alleged Tax Evasion: Lawmakers Threaten Arrest Warrant against Telecoms CEOs

The Chairman, House of Representatives Ad-hoc Committee investigating the activities of telcoms operators and vendors, Hon. Ahmed Abu (APC, Niger) has threatened to serve bench warrants against chief executives of major telecommunications companies over their failure to appear before it and defend allegations of tax evasion amounting to about N143 billion.

Vanguard

Cost of funds to fall as over N700bn inflow hit interbank

Cost of funds in the interbank money market will decline this week in response to inflow of over N700 billion from matured treasury bills and statutory allocation  to the three tiers of government.

Insurers groan as premium growth lags behind liabilities

The insurance industry, during the nine months period ended September 2017, witnessed marginal growth in gross premium written while claims expenses went up significantly. This development may have put the badly affected underwriters in financial stress.

Guardian

FG mulls reduced interest rate for local manufacturers in Q1 2018

The Federal Government’s commitment to support and encourage local manufacturing firms through access to cheap funds may soon be realised with the implementation of a reduced interest rate regime for local manufacturers in the first quarter of 2018.

The post In the news: Development bank to fund MSMEs appeared first on Realising Ambitions.

Source: Articles