Becoming a successful investor doesn’t happen overnight. It takes time and effort to learn the ins and outs of the investment world. Your personality as an investor also plays a major role as you have to be patient because any good investment takes time.
In this article, we would guide you through 5 key steps to note in your investment journey and tell you what exactly you should look out for along the way.
1. Understand that this is a journey
As any good investor will tell you, to be successful in investing you have to understand that it is a journey and not a one-time event. You need to be in the right mind frame to prepare yourself for the long term and know exactly where you are headed i.e. your destination. This will help you plan your investment journey accordingly. For instance, when are you looking at retiring? 20 or 30 years from now? When you are 60? How much money do you need to have to make? You need to ask yourself these questions and know the answers. This will help come up with a well-detailed plan for your investment goals.
2. Know the market and what works
Investing is a combination of different things; knowledge of the market, financial fundamentals and qualitative factors. The great thing is that we live in the tech age and you have unlimited access to investment guides and resources on the internet that explain high-level finance ideas in a way that is easy to understand. So it is very important that you read books, take an investment course or two and understand the modern financial market and topics such as portfolio optimization, diversification, and market efficiency. Once you know what works in the market, you can come up with simple rules that work for you and guide your investment efforts.
3. Be willing to learn
Predicting the market is an impossible task, it can be hard because of a single certainty, it mostly proves to be volatile. But this shouldn’t deter you from it. The investment journey is often more than not, a long one and learning to become a successful investor is a gradual process. Sometimes your predictions about the market will be wrong but instead of dwelling on it, acknowledge it and learn from your mistakes. A successful investor is one that always keeps an open mind to learning.
4. Be in It for the long term
When most people hear ‘long term’ they get discouraged. Any good investor understands that investing isn’t a ‘get rich quick’ scheme and would tell you Rome wasn’t built in a day. Understand that your chances of success will increase if you are in it for the long haul and you stick with an optimal long-term strategy. It may not be the most exciting investment choice but remember you have a goal and it is important to stay on course without letting your emotions get in the way.
5. Get on the right investment path
Your personality, access to resources and level of knowledge should determine your choice. It is important that as an investor, you do not put all your eggs in one basket. The keyway of investing is to diversify your portfolio and make tactical decisions. The most successful investors usually start with low-risk diversified portfolios and gradually grow by learning from their doing and actions. As investors gain greater knowledge over time, they become better suited to taking a more active stance in their portfolios.
A great place to start as an investor is with the i-invest App. An investment application that enables you to securely purchase and manage Treasury Bills, Eurobonds and Equities from your mobile device. This is a great option for you as you are always on-the-go and can monitor your portfolio 24/7 right from your mobile device.
The mobile app broadens the choice of money market products available to new and experienced retail investors. Potential investors require only a smartphone with which they can download the i-invest app. The app eliminates entry barriers such as lack of education and information to make smart investment decisions as the app guides users all through their investment journey, enabling them to trade from the comfort of their homes like professionals. You also get to choose from three investment options which are Treasury Bills issued by the Federal Government making them low-risk, Eurobonds issued by foreign governments, companies, and international organizations and Equities from top traded Nigerian companies.
What makes the I-invest app functional by anyone is that irrespective of the financial institution they bank with, they can access the product offerings. More so, the app is risk-free and super secure as it is directly regulated by the Nigerian Securities and Exchange Commission (SEC). Additionally, the BVN and bank account details provided at the initial registration, seal off any possible security breach. Users can monitor their money or investment at all times to ensure that nothing is lost.
The I-invest app is available for download on iOS and Google Play stores and you and can learn more about i-invest on https://i-investng.com/.
Whether you are just getting started or want to improve your skills, i-invest is the way to go as it guides all investors irrespective of their level of skills.
Audiomack partners Slum2School to support the education of students from underserved communities
These funds will go towards supporting 38 learners with tablets in the virtual learning program.
Moving music forward means empowering the next generation of creatives. In that spirit, Audiomack will be donating $5000 USD worth of tablets and headsets that will support the Slum2School initiative in Africa, which is a volunteer-driven development organization empowering underserved children in slums and remote communities with quality education, entrepreneurial skills, and psychosocial support to enable them to realize their full potential and become social reformers.
These funds will go towards supporting 38 learners with tablets in the virtual learning program which was designed to combat the impact of COVID-19 on education in disadvantaged communities in Nigeria.
Speaking about the initiative, Charlotte Bwana, Head of Business Development and Media Partnerships for Audiomack Africa reiterated Audiomack’s commitment to empowering its host communities. She said, “While the Coronavirus pandemic has impacted all aspects of our lives including the education sector, we recognize the increased gap on children from underprivileged communities as they are unable to access quality education and learning materials. This donation demonstrates our efforts to bridge this gap because we are committed to fostering a world where everyone has the opportunity to learn and prosper.”
Also commenting, Otto Orondaam, Founder of Slum2School Africa said, “We are glad to collaborate with Audiomack who shares in our vision to transform the society by empowering underserved children in slums and remote communities with quality education. We also call on individuals and organizations to support this cause and help make an impact in Nigeria’s educational development”.
This donation comes on the heels of Audiomack donating to Girls Who Listen and Pretty Girls Sweat for Women’s History Month.
Dangote: Cement price from our factories is between N2,450 and N2,510 per bag, VAT inclusive
…says Nigeria price is in line with or lower than prices across the West African coast.
Management of Dangote Cement Plc has clarified that the price of a bag of cement from its factories and plants across Nigeria (as at 12th April, 2021) is N2,450 in Obajana and Gboko, and N2,510 in Ibese inclusive of VAT. The clarification was made in view of recent insinuations that the company sells cement in Nigeria at significantly higher prices relative to other countries, particularly Ghana and Zambia.
Dangote’s Group Executive Director, Strategy, Portfolio Development & Capital Projects, Devakumar Edwin revealed that, while a bag of Cement sells for an equivalent of $5.1, including VAT in Nigeria, it sells for $7.2 in Ghana and $5.95 in Zambia ex-factory, inclusive of all taxes. He said that though the company has direct control over its ex-factory prices, it cannot control the ultimate price of cement when it gets to the market. He advised that it is important to distinguish Dangote’s ex-factory prices from prices at which retailers sell cement in the market.
He, therefore, frowned at intentional misinformation or demarketing, allegedly sponsored by some individuals, that Dangote sells its cement at higher prices in Nigeria relative to other African countries at the expense of Nigerians. He described the allegation as false, misleading, and unfounded, while giving the media persons present at the press conference copies of invoices from Nigeria and some other African countries (Cameroun, Ghana, Sierra Leone, Zambia), and urging them to conduct independent investigations on the price of cement across the West African coast.
Edwin further explained that while Dangote cement has 60% share of the market, other companies have the remaining 40%. DCP has no control over neither the prices charged by other cement manufacturers nor the prices charged by retailers in the markets.
He further explained that “Demand for cement has risen globally as a fallout of the COVID crisis. Nigeria is no exception as a combination of monetary policy changes and low returns from the capital market has resulted in a significant increase in construction activity. To ensure that we meet local demand, we had to suspend exports from our recently commissioned export terminals, thereby foregoing dollar earnings. We also had to reactivate our 4.5m ton capacity Gboko Plant which was closed 4 years ago and run it at a higher cost all in a bid to guarantee that we meet demand and keep the price of Cement within control in the country.”
He said: “Over the past 15 months, our production costs have gone up significantly. About 50% of our costs are linked to USD so the cost of critical components like: gas, gypsum, bags, and spare parts; has increased significantly due to devaluation of the Naira and VAT increase. Despite this, DCP has not increased ex-factory prices since December 2019 till date while prices of most other building materials have gone up significantly. We have only adjusted our transport rates to account for higher costs of diesel, spare parts, tyres, and truck replacement. Still, we charge our customers only N300 – 350 per bag for deliveries within a 1,200km radius. We have been responsible enough not to even attempt to cash in on the recent rise in demand to increase prices so far.”
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Tantalizers Plc reports a loss after tax of N422.05 million in FY 2020.
- NASD Plc announces admission of newly demutualized NGX shares.
- Lotus Halal Fixed Income announces dividend of N20 per unit for Q1 2021.
- Friesland Campina Wamco Nigeria Plc announces AGM, proposes dividend of N6.74 per share.
- ETI appoints Akin Dada as Group Executive, Corporate & Investment banking.