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.

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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.

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Source: Articles

In the news: FG to meet global investors in US

In the news: FG to meet global investors in US

Punch

Inflation drops for ninth consecutive month to 15.91%

The National Bureau of Statistics on Wednesday released the Consumer Price Index, which measures inflation, with the index dropping year-on-year from 15.98 per cent in September to 15.91 per cent in October.

$5.5bn borrowing: FG meets global investors in US on Friday

The Federal Government is set to meet global debt investors this week as it looks to sell its longest-maturity Eurobond yet.

ERGP: FG to hire Malaysian economic experts for N458m

The Federal Executive Council on Wednesday approved the retention of Malaysian consultants to help conduct a study that would aid the implementation of the President Muhammadu Buhari administration’s Economic Recovery and Growth Plan.

TSA: $21.3m trapped in Heritage Bank, NPA tells Reps

About $21.3m of Federal Government’s funds held for the Nigerian Ports Authority by Heritage Bank had been trapped in the vault of the lender since 2016, the NPA told the House of Representatives in Abuja on Wednesday.

3,050MW plant: FG, Chinese bank negotiate $4.92bn loan

The Minister of Power, Works and Housing, Babatunde Fashola, announced on Wednesday that the Federal Government had commenced negotiations for a $4.92bn loan from the China Exim Bank for the construction of the 3,050 megawatts Mambilla Hydro Power Plant.

Discos ripping off consumers with new prepaid meters – Reps

The House of Representatives on Wednesday accused electricity distribution companies of ripping off power consumers in the country with their new Mojec prepaid meters and called for urgent investigation to be conducted into the development.

We’ll take a decision on Ajaokuta soon – FG

The Federal Government has said that it will take a decision on what happens to the Ajaokuta Steel Complex in due course.

This Day

Fitch Rates Nigeria’s Planned Dollar Notes ‘B+(EXP)’

Fitch Ratings has assigned Nigeria’s upcoming senior unsecured USD-denominated notes an expected rating of ‘B+(EXP)’.

Stanbic IBTC Grows Nine Months Gross Profit by 78% to N46Billion

Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has recorded a growth of 77.7 per cent growth in profit before tax (PBT) for the nine months ended September 30, 2017.

Guardian

NSE’s All-share index plummets by 0.9%

The reign of the bears continued unabated on the trading floor of the Nigerian Stock Exchange (NSE), as major highly capitalised stocks depreciated in price, resulting to a further slide in the All-share index by 0.9 per cent.

Nigeria’s crude oil suffers setback as more traders opt for U.S. blend

Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said.

Vanguard

African SMEs face $136bn financing gap annually—IFC

The International Finance Corporation, IFC, a member of the World Bank Group, has estimated that in Africa, small and medium enterprises, SMEs, face a financing gap of over $136 billion annually.

NNPC should be partially privatised — Moghalu

Despite effort by the current administration to diversify the nation’s economy, a former Deputy Governor of the Central Bank of Nigeria, CBN, Mr. Kingsley Moghalu, has urged the Federal Government to partially privatize the Nigerian National Petroleum Corporation, NNPC.

The Nation

Oil prices end gain streak, drop to $61

The recent gains recorded by global oil prices have slipped as the commodity has lost more than $2 in seven days.

McGrath: ExxonMobil adds 600,000bpd to Nigeria’s output

The Chairman/Managing Director, ExxonMobil Nigeria Unlimited, Mr. Paul McGrath, has reiterated commitment to local content development, saying the firm contributes 600,000 barrels per day (bpd) of oil to Nigeria’s daily output that currently hovers around 2.2 million bpd.

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Source: Articles

In the news: FG targets N311bn from asset sale, privatization

In the news: FG targets N311bn from asset sale, privatization

Punch

Nigeria’s debt grows by N8tn in two years

Nigeria’s total debt stock rose by N8tn between September 2015 and September 2017, according to statistics provided by the Debt Management Office.

2018 budget: FG targets N311bn from asset sale, privatization

The Federal Government is aiming to generate of N311bn from privatization of public properties and the sale of national assets next year to partly finance the 2018 budget.

CBN sells dollars at 306/dollar on spot market

The Central Bank of Nigeria on Tuesday sold dollars at N306 for the second time, after maintaining a level around 305/dollar on the official spot market for two months, traders said.

This Day

Adeosun, Foreign Investor Hold Talks on Textile Industry

Dutch textile and design company, Vlisco Group on Tuesday held a high-level discussion with the Minister of Finance, Mrs. Kemi Adeosun, over the former’s proposed investment in the Nigerian cotton textile industry.

Zambia Becomes AFC Member Country

Zambia has become the first Southern African member country of the Africa Finance Corporation (AFC), a leading development finance institution for infrastructure in Africa.

FG Signs $5.8bn Contract for Mambilla Hydro Power Project

The federal government has signed the contract for the Mambilla hydropower project which was first designed 40 years ago and is expected to add 3,050 megawatts of power to the national grid.

EFCC Seeks N’Assembly’s Approval to Retain 7% of Recoveries

The Economic and Financial Crimes Commission (EFCC) on Tuesday urged the House of Representatives to accord the agency powers to retain seven per cent of all its recoveries from proceeds of crimes which are assets allegedly owned by corrupt public officials.

Vanguard

Naira depreciates to N360.27 in NAFEX

The naira, yesterday, depreciated to N360.27 in the Investor and Exporter (I&E) Foreign Exchange, forex Window.

13 countries shun Nigeria’s crude

Thirteen countries may have shunned Nigeria’s crude oil as data obtained from the Nigerian National Petroleum Corporation, NNPC, shows they have not purchased the product since 2016.

Indomie buys Dangote plants in Ikorodu, Calabar for N3.75bn

Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines in Ikorodu and Calabar, to rival pasta maker De United Foods Industries, maker of Indomie Noodles.

Guardian

Federal Government’s Truck Transit Park to gulp N4.8 billion

The planned Truck Transit Park initiative of the Nigerian Shippers’ Council (NSC), would gulp over N4.8 billion, even as investors are jostling to secure a stake in the project.

France, Nigeria trade volume tops 1.8 billion euros

The Economic Counselor of France in Nigeria, Francis Widmer, yesterday, said the trade volume between the two countries has exceeded 1.8 billion euros in the first quarter of 2017.

Reuters

Nigeria’s Senate gives go-ahead for $5.5 billion foreign borrowing

Nigeria will move ahead with plans to borrow $5.5 billion from foreign investors after the Senate on Tuesday approved President Muhammadu Buhari request for the move.

Chellarams Plc say pretax profit for quarter was 363.89 mln naira

Revenue for quarter ended Sept 30 was 2.89 million naira versus 2.91 million naira year ago

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Source: Articles

Two kinds of people, which one are you?

Two kinds of people, which one are you?

There are two kinds of people you are likely to come across during sales season.

First there are the sales ninjas.

They anticipate sales season, prepare for it, maybe even save towards it. These people recognise the need for a purchase and think to themselves, it’s August already. November is just around the corner. I’ll manage till then and buy it on black Friday. They are clear as to exactly what they want to buy when the sales season starts and they even know where to shop to get the best deals.

Then there are the sales victims.

These ones are remotely aware sales season is coming till it arrives. The season takes them by surprise and they are overwhelmed with the avalanche of ‘cheap’ things they can buy. These people stumble on ‘great’ offers on websites and at stores and they just can’t resist. So, they end up buying things they hardly need with money budgeted for something else. Once the initial high that comes with getting a good deal wanes, they discover what they got was hardly a good deal.

I bet you already know which group you belong to.

Whether you are a sales ninja or a sales victim, don’t let supposed black Friday deals swindle you this year. Learn to differentiate deals from traps. While it is good to take advantage of discount opportunities, it should not be at the detriment of your fixed budget or financial goals. The key is to avoid impulse buying. Stick to the items you need- the ones you planned to buy and you should be fine. Remember there is a whole year full of financial obligations ahead. Instead of expending all that money on Black Friday discounts, how about you split it and invest a fraction of it?

Eager to explore investment opportunities available to you? Visit our WebShop. You can also discuss your questions or seek clarification with us by emailing [email protected] or calling 0700 CALL ARM

We look forward to hearing from you.

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Source: Articles

There’s something wrong with my wife

There’s something wrong with my wife

…This is a true-life story.

 

I know something is wrong because I have been married to her for six years, and right now she’s not acting normal.

My wife Oma is a modern day ‘slay queen’. Yes, I know I make a lot of money running my import and export business, but I had thought I would marry a woman who was ambitious. Well, I got my wish in a different way. Oma was ambitious about spending my money.

At first, I tried to coerce her to maybe get a job or even open a business for her. She would have none of that. After all, she was my ‘ori-aku’ – wealth consumer (as she likes to call herself) and intended it to remain that way. Even when I told her she would get bored staying at home, she proved to me that motherhood, shopping, vacations, girl’s hangouts and being an Instagram celebrity were enough to keep her busy.

Even the arrival of our children, Dera and Buchi did not un-slay my wife. Far from it. She turned our children to ‘slay-kids’ too creating and managing their individual Instagram accounts where she showcased their arsenal of baby clothes and fashion styles all for likes, follows and comments.

So, you see, I was used to my wife spending and spending my money.

But something changed yesterday. She came into the bedroom looking serious. I knew she wanted money. That was the look whenever she had a money-spending mission.

But instead she said “Darling, God forbid something happens to you now, how will I and the kids survive? I mean, will Dera and Buchi still school abroad like we planned? Will our lives remain the same?”

I looked up from the Manchester United vs Huddersfield game I was watching in shock. “But bae, nothing will happen to me. Where’s this question even coming from?” I asked. “How do you know nothing will happen to you ehn? Is that not what our former neighbor Nneka’s husband told her in February before that horrible accident the following month, now I just heard that she has moved her children to a public school. I even heard that she’s now depending on goodwill from family and friends to survive despite how well-to-do her husband was.”

“I think we need to put money aside for the children’s college study abroad, and then that fashion store you wanted to open for me three years ago? I’m ready for it now. At least I can make my own money and save too. Nothing will happen to you o, but let me err on the side of caution”, she rambled on with every seriousness.

This unexpected change from Oma got me thinking. Yes, something is wrong with my wife and it is something good. For the first time, she thought of something other than lavish spending. She not only thought about saving but also earning.

Her first question played in my head like a track on repeat as I went about my week. She was right. I didn’t have my life in my hands and God forbid that anything happens, I wouldn’t want my unpreparedness to alter my wife and children’s future.

 

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Source: Articles

In the news: Shareholders back NSE’s one-kobo pricing rules

In the news: Shareholders back NSE’s one-kobo pricing rules

The Nation

$5.5b loan: Moody’s downgrade raises borrowing cost

The Moody’s Investors’ Service downgrade of Nigeria’s long-term issuer and senior unsecured debt rating to B2 from B1 (with a stable outlook) means higher cost of international borrowing, top financial analyst Bismarck Rewane has said.

Shareholders back NSE’s one-kobo pricing rules

Retail shareholders have expressed support for the planned implementation of a new pricing rule that will allow stocks on the Nigerian Stock Exchange (NSE) to trade below their nominal value and as low as one kobo.

DisCos’ revenue shortfalls hit N892.4b

Electricity distribution companies (DisCos) have piled up a loss of  N892.4 billion.

CBN commits N44b to Anchor Borrowers’ programme

The Central Bank of Nigeria (CBN) has committed N44.1 billion to the Anchor Borrowers’ Programme (ABP) through the 13 participating financial institutions.

NCRIB advocates compulsory agric insurance for economic growth

The Nigerian Council of Registered Insurance Brokers (NCRIB) has underscored the need for government to make agricultural insurance compulsory in the country.

Punch

Banks weigh recapitalisation options as pressure mounts

Commercial banks, especially mid-sized and small lenders in the country, are considering new options to raise additional capital as pressure continues to mount on them from various fronts.

Construction firms asks FIRS to refund N36bn excess tax

The Federation of Construction Industry has said that over N36bn Withholding Tax credit belonging to its members is pending with the Federal Inland Revenue Service.

N700m spent on IT infrastructure, others – Mines ministry

The Ministry of Mines and Steel Development has denied spending N700m on the acquisition of a web portal.

Insurance bill will enhance underwriting business, says NAICOM

The Commissioner for Insurance, Alhaji Mohammed Kari, has said that the insurance bill will boost insurance business and regulation when passed into law.

Vanguard

N261bn inflow to stabilise interbank interest rates

The interbank money market will this week receive inflow of N261 billion which will enhancing stability of cost of funds in the market. Last week, cost of funds fell sharply due to inflow of N233.8 billion on Thursday from matured treasury bills (TBs).

Senate to increase AMCON powers for speedy loan recovery

The Senate is set to increase the powers of the Asset Management Corporation of Nigeria (AMCON) in order to facilitate its debt recovery mandate.

Worry, as other banks lose market share to big 5

Capital market operators and investors have expressed concern that the widening gap between tier-1 and tier -2 banks may lead to loss of depositors’ confidence in tier-2 banks as full results of 14 banks listed on the Nigerian Stock Exchange, NSE, in the first nine months of this year (9M’17) point to increasing dominance of the market space by the tier-1 banks to the detriment of the tier-2 banks.

Guardian

CBN’s policy saves N217b from rice import

The capital control policy of the Central Bank of Nigeria (CBN), which excluded 41 items from accessing foreign exchange (forex) at the official window, saved the country N217 billion ($600 million) worth of forex in its first full year of implementation in 2016.

This Day

Market Remains Bullish on Sustained Investor Sentiment

The Nigerian bourse sustained its bullish performance as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose further by 0.49 per cent to close higher at 37,120.28. Market capitalisation added N62.5 billion to close at N12.847 trillion.

Reuters

U.S. crude oil exports to Asia soar, complicating OPEC’s efforts: U.S. crude oil is flooding into Asia, and may continue to do so as the arbitrage window that was initially created by Hurricane Harvey remains open, even though the disruption from the costliest storm to hit the Gulf of Mexico has faded.

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Source: Articles

START-UPS AND MONEY – Growing your seed into a tree

START-UPS AND MONEY – Growing your seed into a tree

Every day, start-ups are born.  The decision to launch a start-up is not for the faint-hearted, so congratulations if you’ve taken the first big step. With the rave about ‘being your own boss’, your decision to start-up a business needs to be guided by working financial principles to ensure success and that you stand out of the pack.

You need to identify common financial mistakes to avoid and how to make wise use of your startup capital.

Here are some tips to help you:

Manage your cash flow

Lack of financial accountability has caused many businesses to begin and crash prematurely. You need to know where every kobo is coming from and where every kobo is going. No matter how grand your start-up idea is, without careful money management, it will not survive.

It is important to monitor your cash flow critically, to avoid setting your business up for failure.

You must put measures in place to handle your accounting. If hiring an accountant in the beginning is not budget-friendly, check the internet for accounting software to help you stay organized.

With this in place, your cash flow can be managed optimally. As your business grows and the accounting becomes more complicated, you can consider employing a professional accountant.

Keep your fixed expenses to the minimum

When launching a start-up, generating revenue should be your top priority, not expending your seed money. Bear this in mind and keep your expenses low to ensure a long life for your business. Why furnish your office expensively when you can make do with the basic necessities to run your business? Why look for a large space when all you need is a moderate business space? Many startups make this mistake by focusing and spending on the wrong things.

Spend reasonably so you can channel the bulk of your capital to growth, which will enable you to someday enjoy any additional features you want.

Monetise your time

Don’t spend so much time going for meetings that are unrelated to your business or browsing social media platforms for pleasure rather than business during business hours. Plan your daily schedule and adhere to it. Time is money and every second you spend doing something that doesn’t add to your business is time and money wasted.

Want customers? Get them

Customers are the life of any business. Your company has greater chances of growing when you learn how to acquire customers and retain them. Once you learn different channels of getting customers, optimize them to cut costs.

Because it is nearly impossible to test every customer lead generation channel in the beginning, focus on the most lucrative opportunities you have identified to maximize the use of your time. When you successfully scale those, you’ll have the available finances to explore other channels.

Plan for your future

Even entrepreneurs someday retire. What plans have you made for retirement?

You are responsible for your retirement, so when you start making money, consider things like a Retirement Savings Account. Set aside money for that time in your life when you finally rest and enjoy all you have worked for.

In addition to this, consider micro-investing opportunities. Some investment companies offer the direct debit option where you mandate a certain amount to be deducted periodically (e.g weekly, monthly e.t.c) from your bank account to service your investments. This way, you can concentrate on running your business while your invested money accumulates to guarantee you a secured future.

Pay Yourself

You have needs and should cater to them by making sure you pay yourself each month. You don’t need to compensate your hard work and dedication with a fat salary at the start, but enough to live decently.

When the personal financial stress is taken care of, you are super-charged to stay focused on building your business.

Set financial goals

It is not enough to decide you want to build a multi-million Naira company. Breakdown your financial goals into small, reachable and measurable targets.

Breaking your goals to daily, weekly or monthly targets help you stay on track and make any alterations necessary to achieve the bigger goal. Imagine the confidence boost you get when you consistently hit those little goals? They make you feel powerful enough to blaze consistent trails in your entrepreneurial journey.

Now is the time to get to work on nurturing and watering your seed. Keep your garden free of weed. Many years down the line, your seed will grow into a tree that gives you and those coming after you comfortable financial shade.

Interested in lucrative opportunities to invest the returns from your business? Explore the possibilities here.

The post START-UPS AND MONEY – Growing your seed into a tree appeared first on Realising Ambitions.

Source: Articles

Who says a girl can’t ‘toast’ a guy?

Who says a girl can’t ‘toast’ a guy?

I’m a dreamer and a believer in the Indian movie kinda love. I’m that babe that read all the Mills & Boon series back in secondary school. I’m that babe that cries when a guy writes me love poems. I can spend all day listening to R&B music.

My name is Mimi and I’m an unapologetic romantic.

I’ve been hoping and searching for that guy that does it for me, but somehow Cupid thinks matchmaking celebrities like Banky and Adesua is more important than hooking a babe up.

So, what do I do but face my ‘fitfam’ lifestyle building a body strong enough to house the emotions bottled up within me. But my visit to Twitter a few days ago shows that good old Cupid may have remembered me after all.

I came upon the ARM Run For the Future post on those who come for a run to find bae and my antenna picked up a frequency. Ha! This must be me.

My love for fitness might get me the romantic ‘boo’ with a shared love for fitness that I’ve been searching for. Who says a girl can’t go after what she wants eh?

I quickly head over to register for the run and what do I see? My favorite comedians EmmaOhMyGod and Nedu plus that funny, cute babe WofaiFada who I follow closely on Instagram are even part of the package. See me dancing Kukere and “dabbing” in my mind. How can I pick a team when I love all of them die? Omo, I’m for all contenders o!

My mission for this run is clear. I’m coming to run for my future (It depends on how you see it, but ‘future’ can be a guy who is a potential hubby abi?) and a little bit of celebrity famzing on the side.

I’ve saved the date November 25, 2017, bought my cute colourful running shoes and sports leggings (I gats to be noticed o) … Now the wait begins!

 

If you have not registered yet, you’re dulling o. Go here and register sharp sharp!

 

The post Who says a girl can’t ‘toast’ a guy? appeared first on Realising Ambitions.

Source: Articles