Browsing: Money matters

Co-operatives in Africa have played an integral role to make an indelible footprint in the lives of millions of members across the continent. They have been identified as key vehicles in the ultimate realization and achievement of Africa’s Agenda 2063 and the United Nations Sustainable Development Goals (SDGs).  

The era of digital disruption together with the introduction of challenge 2025, has birthed the 21st century African co-operative, swiftly reinventing it from the traditional analogue model.  

Most Co-operatives have been at the forefront of eradicating poverty, by creating employment to millions of people, directly or indirectly across the continent. In addition, many have been been entirely responsible for transforming national economies inculcating modern agricultural methods to increase productivity, and enabling the continent to feed itself whilst exporting; boosting industrialization, manufacturing and value addition; bolstering education, health and nutrition to name a few of

For those who have obtained credit facilities from banks or financial institutions (FI) they must have at one point raised the question that we intend to discuss in this article.

It is likely that somehow borrowers have managed to obtain misinformation from friends, the public or the lender. There has been a misunderstanding by many borrowers that as long as they have “collateral” they deserve that legal right to obtain credit facilities from the bank. I refer to this as a misunderstanding because banks/FI do not lend against the collateral; rather lending is based on the viability of the business/project to be financed.

In the process of credit risk assessment the primary repayment source of a credit facility is the cash flow from the business to be financed or from other pre-identified source of cash flow. The cash flow is what is considered as primary collateral. Banks and FI will…

The idea of saving is “nice to have”, but is difficult to practice for many of us.

As we navigate the early days of the New Year, this is the perfect time to implement your long-term plan you had postponed to start saving. With accrued debts from previous year(s) and financial challenges that you could have avoided if only you saved a few coins a month, you still have the power to make the next eleven months,if not years, a success.

My relationship with finances is complex. I am still learning to work out how to manage my money in the best way possible. It has taken me several years to learn the discipline of saving when all I want to do is splurge it.

Do you wish to retire young and spend your time doing what you love, relaxing and planning for your next vacation? Is this even doable?…