A rights issue is an offering of rights to the existing shareholders of a company that gives them an opportunity to buy additional shares directly from the company at a discounted price rather than buying them in the secondary market. The company issues new shares to the public in order to raise capital.
But until the date at which the new shares can be purchased, shareholders may trade the rights on the market the same way that they would trade ordinary shares.
Who is C&I Leasing?
C & I Leasing Plc is Nigeria’s foremost leasing company and a leading brand for finance leases, and other ancillary services in Nigeria. The company, which started as a consumer finance leasing company licensed by the Central Bank of Nigeria in 1991, has grown to become a diversified, leasing and business service conglomerate providing support services to various indigenous and multinational organizations in West Africa in:
Fleet Management
Personnel Outsourcing
Marine Services
Why is C&I Leasing raising funds through a rights issue?
C&I leasing wishes to use the proceeds to:
Capital restructuring – Ensure optimum capital structure that appropriate balance of debt and equity
Repay short term loans
Acquire equipment and vessels to expand their marine services business
Provide working capital requirements as the needs arise
How much capital is C&I leasing raising?
N3.5 billion
Issue Price:
N6.00 per share
What effect will the rights issue have on C&I Leasing’s shareholders’ equity?
Current existing shares: 404,252,500
Rights shares: 539,003,333
Post rights issue shares: 943,255,833
Issue criteria:
4 new rights for every 3 shares held
Each right entitles the shareholder to 1 new share
Is there a minimum subscription to complete the rights offering?
No
Who is eligible to purchase rights?
Shareholders of C&I leasing at the record date can use their rights to subscribe to newly issued shares
Non-shareholders can buy rights from the market from C&I Leasing shareholders selling their rights at market value
When can I subscribe to the rights issue?
The issue opened on November 17 and closes on December 27
How long will it take for me to get my shares after the rights issue?
CSCS accounts will be credited and Investors will receive share certificates on the 29th of January 2020
How do I subscribe to the rights issue?
Contact customer service at ARM securities at +234 (1) 2701096, 2701653 or [email protected] to gain access to application forms
Can I sell my Rights – can they be traded?
Yes, A right is an option to buy shares, but you are not obligated to do so. You may decide not to exercise your right to purchase all or some of the shares you are entitled to, in which case you can sell all or some of your rights at market value.
C & I Leasing Plc is seeking to raise N3.2 billion by way of Rights Issue. The company is offering 539 million ordinary shares of 50 kobo each at a rights price of N6.00/share to existing shareholders based on 4 new ordinary shares for every 3 ordinary shares held as at 4th of September 2019. The Rights issue opened on the 18th of November 2019 and closes on the 27th of December 2019.
Use of Proceeds
Capital Restructuring. Ensure optimum capital structure that appropriate balance of debt and equity.
Repayment of Short-Term Loans. Reduction of short-term debt through the redemption of some existing Commercial Papers.
Working Capital Needs. Provide working capital requirements as the needs arise.
Business Expansion. Acquisition of equipment and vessels to expand the marine services business. Increase in fleet.
%
N
Expected Completion Time
Business Expansion
29.2%
943,350,630
18 Months
Refinancing of Loans
58.3%
1,886,701,260
1 Month
Investment in Working Capital
9.7%
314,635,638
6 Months
Issue Expenses
2.8%
89,332,470
Immediately
Total
100.0%
3,234,019,998
About C&I Leasing
The Company was incorporated in 1990 as a limited liability Company and duly licensed by the Central Bank of Nigeria to offer operating and finance leases and other ancillary services.
Over the years, C&I Leasing Plc has enjoyed consistent growth and has expanded its scope of business to cover major sectors of the Nigerian economy, providing specialized services, in Marine, Telecommunications, Oil and Gas, Equipment Rentals, Manpower Outsourcing and Transportation
The Company provides the following services
C&I Marine – a leading Nigerian content player in the offshore marine vessel space, operating a fleet of over twenty vessels that include terminal tugs, patrol vessels, fast support intervention vessels, and a platform support vessel.
C&I Outsourcing – outsourcing services with strength in various Human Resource competencies. They have access to a large database of skilled and experienced hires for both permanent and temporary roles ranging from Engineers to direct sales agents, diverse professionals, and consultants.
C&I Fleet Management– structured fleet management business support service designed to meet the diverse needs of clients regardless of the number of cars they own
SDS Training Services – accredited training institute and associate member of the International Federation of Training and Development Organizations providing carefully designed modules of training and education programs
CITRANS Telematics Solutions – Nigeria Communications Commission (NCC) licensed provider of unique fleet management solutions to suit various business needs. The platform offers a hardware configuration that includes a built-in accelerometer for intelligent driver behaviour with all its applications monitored remotely from a web-based software.
The Company has two (2) subsidiaries;
Leasafric Ghana Limited
Leasafric Ghana Limited was incorporated in March 1992 and licenced by the Bank of Ghana as a non-bank financial institution to carry out the business of finance leasing as its principal business. Leasafric has since then been running an Asset Finance business using the technique of finance leasing.
EPIC International FZE
This asset-based subsidiary was incorporated in 2011, as a free trade zone establishment in United Arab Emirates and licensed to trade in ships and boats, ships and boats spare parts, components and automobile and it commenced operations fully in 2014 with four vessels. The vessels are then chartered from C & I Leasing by the various international oil companies. This arrangement has expanded and helped grow the fleet size of C & I Leasing to 22 vessels currently.
Evolution of C&I Leasing
Financial performance
Revenue, PBT, and Shareholder’s Fund (N ’billions)
What to do with your rights
Subscribe to the rights issue to purchase in full:
To take advantage of the rights issue in full, you would need to pay the full amount according to the number of shares you are allowed to purchase. As you are getting the shares at a discounted price the average share price would be lower than the total current market value. So, if you buy those shares and sell them immediately then also you would be in a profit.
Sell your rights to other investors:
In most cases, your rights allow you to choose whether you want to buy those shares or sell your rights to other investors or to the underwriter.
For more Information…
Contact customer service at ARM securities at +234 (1) 2701096, 2701653 or [email protected] to gain access to application forms
The December 2019 Auction opened today December 2, 2019 and closes on Friday, December 6, 2019. Please find the details stated below.
N
Subject
Features
1
2 Year FGN SavingsBond
9.091% per annum
2
3 Year FGN SavingsBond
10.091% per annum
3
Tenor
2 or 3 years
4
Settlement Date
Wednesday, December 11, 2019
HOW TO INVEST IN THE FGN SAVINGS BOND
Ensure you have a CSCS Account Number with ARM Securities. If you haven’t any, open an account online at ARM Stocktrade or fill this form and submit at any of our offices.
Transfer the amount you intend to invest into the following bank account detailed below:
Bank Details. Account Name:
ARM Securities Ltd
GTB
UBA
Zenith
Diamond
0002962204
1015290060
1011558489
0001983873
Please note that we do not accept cash payment.
Submit the completed form(s) to ARM Securities at customerservice@armsecurities.com.ng (or office drop-off) before 5:00pm on Thursday December 5, 2019.
To enjoy this new opportunity, or learn more about the FGNSB, please contact us at customerservice@armsecurities.com.ng or call us on 012715000, 0700CALLARM (0700 2255 276).
• In this report, we resume coverage on UACN with a target price of N8.96 which translates to a BUY rating at current price. While UACN’s history of reporting poor operating performance dulled investor’s sentiment, we believe lower finance cost and little or no impairment charge in coming years, post exit from UPDC, supports a rerating. Coupled with recovery in the feeds business, we see improvement in earnings over our forecast period. Comparing 5-year historical average EV/EBITDA of 9.9x, to current level of 3.3x, UACN presents a good entry point on current valuation. At current price and based on our FY 19E dividend of N0.65, we view expected dividend yield of 10.6% as attractive and could be compelling to investors.
• Restructuring exercise is positive for UACN. Ahead of the planned restructuring of UACN (which would involve UACN’s outright dissolution of its interest in UPDC directly to its shareholders), UPDC was classified as a discontinued operation as at 9M 19 unaudited numbers. Accordingly, related finance cost and impairment charges (through the fair value difference between UPDC REIT and market value) were classified as discontinued operation, leaving UACN 9M 19 numbers at the strongest level we modelled post restructuring. With the exclusion of UPDC from 9M numbers and restatement of prior year, UACN delivered EBIT and PBT expansion of 175bps and 150bps YoY respectively, with EPS growing 30% YoY. Notably, without the exclusion of UPDC and restatement of the prior year, UACN would have reported a loss after tax of N12.8 billion (9M 18 loss of N994 million). With the exclusion of the volatility emanating from impairment charge on the real estate property and higher finance expense (UPDC account for 80% to 90% of total UACN borrowings) we expect stable growth in earnings over our forecast period, with EPS CAGR of 12.4% between 2020 and 2024.
• Recovery in feeds business to soften OPEX pressure. Our market survey revealed that OLAM and UACN’s feed products now sell at similar price points, as OLAM steps down its aggressive pricing strategy. As a result, we see improvement in sales from feeds with contribution to group revenue gradually picking up to pre-2018 levels. In the short term, we believe the extended border closure creates some incentive for sales upside for local poultry products and by extension the feeds business.
• Value play or value trap? With the recovery in sale of feeds already evident in the 9M 19 numbers, amidst flattened cost, we expect improvement in gross and operating margins by 117bps and 116bps YoY to 19% and 3.9% respectively in 2019. Though the management guided to an improvement in its operating expense, we are less optimistic of a significant change as the company has only been able to tame the cost and not reduce it as at 9M 19. On that note, we left opex to sales ratio unchanged at 15% till 2020 and gradual improvement from 2021 with mild improvement in operating margin to 4.1% in 2020 and average of 7% over FY21-24. Further down, with reduced finance cost and absence of impairment charge, following the reclassification of UPDC as discontinued operation, we expect earnings from continued operation to print at N1.35 in 2020 (N1.32 in FY 19E from a loss per share of N2.08 recorded in the prior year) with 5-year earnings CAGR of 12.4% between 2020 and 2024. At current market price, UACN trades at 2019E and 2020E EV/EBITDA of 3.12x and 3.01x respectively, which is attractive when compared to 5-year historical average of 9.9x.
The Nigerian bourse ended last week in green as gains particularly on Monday (+41bps) and Friday (+48bps) trading muted losses observed every other day of the week. Consequently, the ASI as well as Market Cap increased by 8bps WoW to 26,314.49 pts and N10.3 billion respectively. Banking sector (+8.07%) anchored the gains while other sectors closed negative, with bulk of the decline seen in Personal Care (-20.45%) WoW. On stock performances, ACCESS (+17.95%), FCMB (+16.25%), UBA (+13.79%), GUARANTY (+13.49%), CCNN (+10.06%) recorded gains muting declines in UNILEVER (-26.59%), INTBREW (-25.4%) and DANGCEM (-2.47%) WoW amongst others.
• DANGCEM– STRONG BUY (FVE: N240.87): DANGCEM’s earnings will be pressured this year (EPS: N14, vs N22 in 2018) owing to lower volumes in Nigeria business (due to increased competition from BUA Cement) and some of its Pan Africa business, as well as high base of tax credits from last year. That said, DANGCEM currently trades at FY 19E P/E of 11x on our estimates, which is cheap compared to WAPCO and CCNN of 17.7x and 16.8x, respectively. We believe current valuation is unjustified given the superior ROE of 24%.
• Nigerian Breweries Plc – STRONG BUY (FVE: N75.82): Intense competition from International Breweries (IB) and graduated excise duty (+17% YoY) that kicked-off in Jan-19, revenue growth is expected to be slow even as we expect higher finance cost (+38% YoY) to be another pressure point to earnings this year. However, given our case for a slight improvement in volumes and decline in cost of sales (-1.1% YoY) which translates to gross (+120bps YoY) and EBIT (+101bps YoY) margin expansion, the misery seems moderated. Overall, the net impact of all our adjustments translates to PBT of N29.9 billion and EPS of N2.58 (+6.3% YoY) over 2019.
• Guaranty Trust Bank Plc – STRONG BUY (FVE: N49.66): GTB’s 9M 19 earnings expanded modestly with PAT and EPS expanding only 3.4% YoY to N146.9 billion and N4.99/share respectively. Although, we expect a slower growth in EPS (+4% YoY to N6.53) over 2019, our case for GUARANTY remains the resilience in NIR, improved cost management, still strong loan book with a moderate expansion in credit loss provision to 0.5%.
• Nestle Plc – STRONG BUY (FVE: N1447.39): Amongst the food producers, Nestle Nigeria Plc has managed to stay afloat, reporting modest growth in earnings amidst incessant competition. For 9M 19, EPS expanded by 11.2% YoY to N46.48 driven largely by the absence of impairment charges which created a high base for input costs over the same period last year. Asides from improved earnings, its strong cash balance, return on equity and 100% dividend payout further supports the case for a STRONG BUY rating.
• Seplat Plc – STRONG BUY (FVE: N828.90): Following a stronger than expected oil exit rate in Q2 19, we have revised our FY19E total production estimate slightly higher to 50,266 boepd (previous: 49,765boepd) and crude oil price to $63.9/bbl. (previous: $60/bbl.). This coupled with a surprise gas toll revenue of $67 million in Q2, increased 2019E revenue to $701 million (previous: $656 million). Thus, our 2019E EPS and FCF/s were revised higher to $0.33 and $0.12, from previous estimate of $0.31 and -$0.02, respectively.
My son who is 34 years old called to tell me that his wife of 2 years is encouraging him to write his Will. I’ve tried to wrap my head around it. I, his father who is 70 have not written a Will and this young woman is telling my son to. Should I be worried? My wife is already painting scary scenarios that cause us to suspect our daughter-in-law who has by the way been nothing but good to us. Please reply.
Thank you.
Mr. Anthony from Port Harcourt
ANSWER
Dear Mr. Anthony,
I can understand why you would have concerns regarding your daughter-in-law’s advice to your son. Writing a Will is typically not a common practice for young people, and it could be perceived as absurd in our society, that a wife would be encouraging her young husband to have one in place. More so, there is the myth that writing one’s Will inevitably leads to the person’s death.
While your daughter-in-law’s actions may appear bold and even worrying to some, I encourage you to be dispassionate in your view so as to appreciate the benefits of actually having a Will in place, not just for your son’s benefit but also yours. A Will offers one peace of mind knowing that one’s estate and affairs are in order. It gives one the opportunity to determine how and to whom his/her assets would be distributed at his/her demise. It also serves as an inventory of assets to help family members identify the assets at the relevant time.
Where there is no Will in place to determine what becomes of a deceased person’s estate, family members left behind, in addition to the emotional distress they have to deal with at the loss of their loved one, are more often than not also left in a state of confusion as to how to administer or access the assets of the deceased. This is certainly not an ideal situation for anyone to leave his or her family in.
Please consider your daughter-in-law’s actions as noble and encourage your son to do what is best for his family. You should also take decisive steps towards putting your estate plan in place by engaging a reputable firm renowned in these matters to advice you on what estate plan best suits your circumstances.
The midterm break is near and school children will soon be home to take a short rest from all academic activities. If you are a parent/guardian, the mid term break provides you with an opportunity to spend some quality time with your child/ward
To help you make this midterm break a memorable one for your child/ward, we have some fun activities that you can engage in together.
Painting:
Most Children love to experiment with colors. Allow your child/ward to express his or her inner creativity by providing him or her with painting and drawing materials. With proper guidance and monitoring, let him/her replicate whatever object around in drawing. Who knows, your child/ward maybe the next Picasso.
Explore a new place together
Children love to explore, they want to leave the four walls of their home to a new place. This midterm break, take your child/ward to a new place he/she hasnt been to before. It could be a Natural Garden, Zoological Garden or an Art Gallery. The experience will broaden his/her knowledge about nature.
Make a Movie Together
Watching a movie might be a typical family event by now. Change things up by making your child or war the star of the production. With the available apps and features on a phone or tablet, making a movie can be easier than ever. You can let your child/ward act his/her favorite Super Hero and have some memory fun you can always refer too in future.
Any plans for your money yet? Perhaps bills to sort, items to purchase, investment to fund, Black Friday to save towards and oh, how can we forget Christmas shopping ahead of the festivities or even travel plans…
Don’t forget the importance of planning, prioritizing and budgeting in the scheme of things.
Remember to:
Only buy what you need during the Black Friday sales
Sort your important bills
Make your Christmas shopping list now
Book your flight/bus ticket now before fares get hiked
As always, our convenient payment channels take the hassles of investing off you as you are able to fund your investment from the comfort of your home at the swipe of your internet-enabled device.
Go ahead and check the status of your prior investments via your Wealth Planner – that convenient online portal that houses all your transactions and in the spirit of benevolence and getting richer, refer people to invest in the ARM Money Market Fund and earn units on your own account.
Got any questions? Please get in touch via [email protected] or 0700 CALL ARM and we’ll be pleased to assist you.
No time like now to kick your plans for the rest of the year into motion.
My name is Ezekiel but my friends call me ‘Zeek’. I’m the typical extrovert and life of the party because life is too short to be anything by friendly and happy. You only live once mehn.
Getting back from my two-year working stint with a bank in the USA, I needed something fun and lively to do for a living. That’s how I started propositioning some advertising companies in Lekki and finally, after shocking the guys over there with my ‘mad’ graphic designing skills plus the fact that I had an accent, I landed a fun job with a juicy pay. Life became a party for me.
Soon I sold my old car and bought another, rented a spacious apartment close to the office and even bought a ring to propose to bae. I had gone to many of my friends’ weddings and I always boasted that my wedding would beat theirs hands down. So that’s how your guy started mapping out strategy because I can’t be sleeping on a bicycle…
The rate at which I started raking in more side hustles plus my monthly salary saw my investment growing rapidly. Omo mehn, I want not just the talk-of-the-town type of wedding, I had also promised bae a lavish Dubai honeymoon plus I wanted to have enough to begin construction on my landed property…because man can’t carry last.
That’s when providence smiled hugely on me with the announcement of the ARMRefer and Earn Client Loyalty program with my investment managers. These sure guys said that for every friend I referred to open an ARM Money Market Fund (MMF) account, I’d get 0.25% of their invested sum if they held said investment for a minimum of three months. See me doing ‘Gbe body e’ as the news sank in. Your guy is about to not just blow, but help plenty people blow too.
So, as the resident investment advisor in my clique of ten friends, I set to work bringing the guys on board. I knew these guys had millions to invest if they could only slow down on the groove.
Before one and a half weeks, I had Ted, Jimi, Frank, Shola, Freggie, Dan, Seyi and Jude onboard each investing N4.5 million… They each had goals they were investing toward but can you do the math on how much I made on my units as their referrer?
I thought I was sharp, but my eight friends who I introduced to MMF appeared sharper because in only two weeks, these guys had referred at least 4 big boys with millions each to invest. When you calculate the units they’ll make on their investments based on those referrals, your eyes will pop out of their sockets.
I decided to wise up and raised my extrovert nature to power two. I started going places and making new friends. Before long, I had invited over 20 people to invest in MMF and I’m talking people with good money o.
I’m still looking for more before the deadline of October 31 for the program expires, but you best believe that you’ll hear about my wedding and honeymoon because it’s going to be ‘lit’.
I’m actually silently hoping ARM extends this loyalty program. If they do, then not just my wedding and honeymoon, I will make a lot more to smash my other goals.
Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.
This week’s story pulled off in collaboration with Payday Investor. Before you start to make plans about your next salary, click here.
First money you earned ever?
I think it was in secondary school. We made earrings in school with beads, and then we sold it on Open Day, that felt nice.
Also, my mum owned a restaurant, and I’d help her with work. But my first proper earning was in 2012 when my mum hired me for a catering job – she got a gig and made me the Project Manager. It was less than two weeks, and she paid me ₦50k.
How old were you then?
19. Next was NYSC, I started serving in March 2013. The state I served, you were paid ₦20k per quarter, but you had to travel to the capital to get that money. I didn’t think it was worth it, so I never went to get it. By the way, I was also an apprentice at a tailor’s shop. In fact, I paid them to learn at the time. Add to that, I attended a fashion design school while I was in Uni.
So it’s something you care about a lot.
Yes. When I finished serving in 2014, my parents set up a tailoring business for me. My mum had the equipment, and we had space, so it was easy to carve out an office. While that was kicking off, I applied for a teaching job, because I wanted to do something else that I cared about.
I started in May 2014 part-time. It paid ₦14,500. I really wasn’t doing it for the money, I just wanted to do it. So I was teaching and doing the tailoring business at the time.
How much was tailoring giving you?
I really can’t remember, but I know it fetched enough money for me to buy two phones that year. I didn’t have to ask my parents for money, and I could even chip in with house stuff.
Anyway, I dropped my teaching in January 2015, after about nine months, so I focused on tailoring. Then in August that year, I had to quit tailoring too, because I was travelling away from home for my Masters. September that year, my mum got a catering job in another state, and I had to travel ahead to go sort everything and make sure everything was in place. In the end, she paid me ₦200k.
I didn’t get any income for the rest of the year.
What came next?
I got married in 2016 and had to move to a different city, North-Central. It was hard to be idle – I’d never been idle for as long as I could remember – so I taught myself how to make pastries. Then I started selling. I went to fairs, trying to get the product out. The first fair was a disaster. I paid ₦12k for the stall and made only ₦6k – this was November 2016.
In January 2017, I went for another fair, and I sold out completely – I can’t remember, but I made about ₦50-something-k.
I was taking orders from home, and that felt steady. I went for another fair in March, and it was around that time I stopped because I suddenly couldn’t stand the smell of my kitchen.
Uhm, pregnancy?
Yep. I had my baby in November 2017. But at this time, I was already looking for a space to rent for my tailoring business. Eventually, I found one, and renovations and all that lasted into January.
But in February 2018, my marriage ended – I got a divorce and took my baby with me. He’d rented the house, I furnished it. So I packed all my stuff and returned to my family – my parents took full responsibility of and for me.
Woah.
I already had orders from my tailoring, but because I couldn’t deliver on time – the whole divorce thing – I didn’t charge them. I tried my hands at tailoring again, in June 2018 – I rented space in someone’s shop. But, I’d just gone back to school, and I had a kid, so I had to stop again. Stress.
All this while, I’d been applying for jobs, and then in September, I got called for an interview. Barely two weeks later, I started at the job – a lecturing job – for ₦171k.
It was also around this time I got my own place. It took a lot of convincing my parents to let me get a place of my own. I needed my own space, for my baby, for my Maid. My parents paid for my rent, and it cost ₦1.3 million.
They’re the MVPs.
They’re basically taking care of me. Entirely.
In all this time, what’s your perspective about money?
It’s funny how people say money is not everything when it really is everything. My salary isn’t enough for me to do anything at all. It doesn’t cover my rent, or feeding, or child.
I’m a wanderer at heart, but my salary won’t let me travel anywhere.
So how do you cover your other expenses?
My father. Every month, he sends money for everything – my feeding, child’s feeding, bills, etc. I’ve only ever bought pieces of clothing for my child, my parents always buy clothes, especially when they travel.
My biggest fear is always when my child falls sick. It happened a few months ago, and if my parents weren’t there, how would I have been able to afford to pay the ₦40k that we spent that day?
What’s an average month like, caring for your little one?
Let’s look at your full expense breakdown
A lot of my savings is really so that I can afford to travel for conferences and the likes. Then my emergency fund is me saving up for horrible case scenarios when I can’t get money from my dad.
Looking at your career, how much do you think you should be earning?
Somehow, I feel like this is fair, by Nigerian standards. Every day, I ask myself how long I’d have to work to be able to earn ₦500k per month at a teaching job. How much do you think you’ll be earning in 5 years?
If I stay in academia, it’ll most likely be about ₦250k. But if it’s not in academia, good money, whatever that means then.
My good money is not stressing, not depending on my parents, while also having enough for one vacation a year. Being able to fully support my needs and my kid’s. Like, I stress about not being able to pay for her school fees.
Right now, my good money would be ₦700k.
What do you do when you’re sick?
I personally refuse to acknowledge I’m sick. So I eat and sleep my way through any signs or illness/discomfort. And I am sick a lot. All the time. Plus I hate medication. So I don’t even mention it or I keep saying oh I’m sick but never do anything about it. At most, I take panadol hahaha.
When was the last time you felt really broke?
So it’s either between one of these two times.
First was in 2016. I was still married and I wasn’t working. We got into a huge fight – continuing from where we left off a few days before. I was so pissed because I’d grudgingly agreed to let it go. And he brought it up. I was certain I was done. I packed a bag. And I realised I had less than ₦2k in my account. That wasn’t going to take me anywhere. I was so frustrated. That hurt me more than the problem that was making me leave to begin with.
I was so helpless and didn’t want to ask anyone. It was one of my lowest points in life. If I just had some vex money, I’d have left. No hassle. Nothing.
There was also that other time in 2018 – where all of a sudden – my kid got sick. Her eyes started watering. And it felt like her temperature started spiking. I don’t think I had up to ₦5k with me. There was no way that was going to cover consultation and medication. I was panicking. My heart hurt. I didn’t want to call anyone. So I took her to a 24hrs pharmacy. At 10 pm ish. Came back with less than ₦1k.
I never want to be in that position ever again. I never want to feel so helpless.
Is investment something you’ve ever really considered?
Nope. Well, kinda. I put ₦40k from my first salary into some investment scheme. Mostly because my mum insisted and I thought it wouldn’t be a bad idea. I was supposed to get credited monthly, but I haven’t received anything. I hear the thing collapsed or something.
The only thing I think about using my savings for is travel, which doesn’t make sense, because I can’t afford it. But then I think about it as an investment – investing in myself, hahaha.
Seriously though, I think about it, I want to invest, I just don’t know what to invest in, or how to go about it. Not sure who to talk to.
Happiness levels, 1-10?
4. No, 3. Because my salary isn’t enough to take care of me and my kid. In any way at all. If my parents weren’t taking care of me, I’d not be able to hold things up.
I believe in doing and investing in things you genuinely love doing. That way, you put in everything and are hopeful that it translates into results. So I have an opportunity to start a food business. Once I raise funds to start up, I’m good. So yes, getting funds will be a good starting point to raise that happiness level.
