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Cryptocurrency60 mins ago

Why Bitcoin might likely hit $100,000 soon

The 12-month BTC price forecast was more evenly distributed, though a majority of respondents see prices above $50,000.

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Business News2 hours ago

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Naira gains at black market as external reserves increases by $620 million in 2 weeks

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Content Partners

The impact story of Nigeria’s biggest investment club, The Green Investment Club

The Group boasts of 1,100 members who have invested over N2bn in multiple small businesses in Nigeria.

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The Green investment club was established in the wake of the economic recession in 2016 in Nigeria. At the time, the members were focused on getting financially educated in a community and gradually building investment in impact-driven investment opportunities. The current uncertain economic situation seems to be opening up a lot more investment opportunities for the members of the biggest investment club in Nigeria.

In the words of the founder, Tomie Balogun, ‘’I co-founded an investment club with four friends and this led me on an investment journey filled with lessons. Three years into operating our private investment club, we started to receive requests to join our investment club. We were not so keen on accepting new members. That’s why I decided to build a framework to teach how to start an investment club. To deepen my understanding more, I decided to implement the 3 models of investment clubs I developed. The green investment club is an example of a community model and we launched it as an experiment to see if anyone will be interested’’

Today, that experiment boasts of 1,100 members who have invested over N2bn ($5m) in multiple small businesses in Nigeria. The direct impact of investing in small and medium enterprises in sectors such as agriculture and micro-credit lending has contributed to economic growth and created jobs for over 2,000 people in Nigeria.

According to the founder, Tomie Balogun, ‘’The investment club’s focus was to teach young millennials like herself how to invest confidently. I had no clue how to invest confidently when I started so I made a lot of mistakes on my journey.’’

Things changed when she started an investment club and started to read books and seek out experts to learn practical investment tips from. This boosted her confidence in making investment decisions over time.

Her investment journey mirrors the challenges many young people face today in Nigeria. Most millennials who earn good income do not understand how to invest confidently. Their short-time financial needs make them drop long term goals. As a result, they end up spending all they earn or investing in bad investment schemes which promise money doubling returns.

Through the investment club’s financial literacy courses, resources, and curated investment opportunities, they help their members achieve sustainable income growth through investments at a rate higher than the average. Members of the Green Investment Club earn an additional stream of income from investing in credible investment opportunities. Being impact-driven as a community, they invest actively in small and medium businesses in key sectors of the economy in a bid to increase employment and encourage economic growth.

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The investment club is also focused on reducing the inequality in the investment sector as more women are inspired to invest. 65% of the members of the Green Investment Club are women. It is confidence-boosting for women to be in a group with other women who are working towards financial independence. They get a clear picture of their finances and make better financial decisions

The Green Investment club has a thriving community of professionals and entrepreneurs who are mostly Nigerian but live in different countries. The community communicates strictly via email and a support group. To protect the privacy of its members, they do not have WhatsApp or Telegram groups. So if you see a WhatsApp or Telegram group in the name of the Green Investment Club or Tomie Balogun, it is a scam and they encourage everyone to report the group immediately.

As an investment club and community, the members of the Green Investment club are all connected by one goal; to get better with their personal finances and make an impact by investing in small businesses contributing to economic growth in Nigeria.

 

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    Content Partners

    Leadway Pensure PFA bags Customer Service Excellence award at Africa Brands Awards 2021

    Leadway Pensure’s award reaffirms its commitment over the years to giving its clients amazing experiences beyond the call of duty.

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    Leadway Pensure PFA Limited, Nigeria’s foremost pension funds administrator, has been recognized as the most admired pension brand in Nigeria following its emergence as the winner of the Customer Excellence Award at the 2021 edition of the Africa Brands Awards.

    The prestigious African Brands Awards was created over a decade ago to promote innovation and creativity amongst African brands across different industries. The emergence of Leadway Pensure as the winner of the Customer Service Excellence award in the pension category reaffirms the brand’s customer-centricity and its commitment over the years to giving its clients amazing experiences beyond the call of duty. The recognition comes at a crucial period in the pensions industry with the opening of the transfer window which allows customers move their retirement savings account from their existing PFA to another.

    Still on the recognition, the Managing Director, Leadway Pensure PFA Limited, Mrs. Ronke Adedeji, stated that receiving the award was a testament to how the brand had treated its clients and the positive perception it had been able to create in the larger society. According to her, “Our clients are at the center of everything we do, hence, we are constantly innovating and finding new ways to better their experiences with us. We continue to blaze the trail in the industry by finding simple and smarter channels to deliver our services; and optimizing our processes. We are a firm believer that if truly we must assist our clients to get more out of life, we must also continuously explore effective and efficient ways of delivering pension services.”

    Mrs. Adedeji hinted that the company invested heavily in digital channels aimed at easing tracking, reporting, and communicating with its clients. “In addition to our long-standing heritage of excellence and competitive returns on investments, we prioritize accessibility for our clients by launching online channels to connect with them. Some of the online channels include our Online Enrolment Portal that allows users to remotely open a Retirement Savings Account (RSA) and get their RSA PIN instantly, our Mobile App, Interactive SMS, Pensure Online (p-Online), SureCal (Pensure Calculator), amongst others. We are unwavering in our promise to all existing and potential clients to continuously offer pension plans and experiences that surpass their expectations,” Mrs. Adedeji said.

    It is important to note that the company also recently received the ISO 27001 certification, a globally coveted standards certification that recognizes commitment to the highest standards of information data security management.

    Leadway Pensure has, over the years, shown itself as one of the leading PFA’s in Nigeria. It continues to advance the PFA industry by devising unique ways to service the ecosystem and deliver value to all stakeholders. Leadway Pensure is one of the most capitalized PFA’s in Nigeria with an authorized share capital of N2.0 Billion. Our shareholder’s fund is in excess of N7.0 Billion, unimpaired by losses.

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    ITA partners NEPC to launch first E-Lab Innova training for agribusinesses in Nigeria

    The E-Lab Innova is an educational training program for the agri-food sector in Nigeria.

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    As part of its commitment to boost trade relationships with Nigeria, the Italian Trade Agency, a governmental agency that supports the business development, partnerships and collaborations between Italian companies and their local counterparts, has launched the first E-Lab Innova in Nigeria. The E-Lab Innova is an educational training program for the agri-food sector in Nigeria which will be implemented in collaboration with the Nigerian Export Promotion Commission (NEPC) alongside other Italian partners, such as MACFRUT, a leading exhibition for the agribusiness industry.

    The training is aimed at increasing the technical and managerial skills of Nigerian agri-food companies in order to support their access to EU markets and foster business partnerships with Italian companies. Participants which were selected with the support of NEPC are CEOs of high-potential companies active in the production of foods such as mango, pineapple, shea nuts and groundnuts. The programme is scheduled to hold for the duration of five weeks and will be implemented in three phases: a preliminary assessment to analyze the technical and management training requirements, company potential and profile design; 2-week webinar training classes focused on key internalization topics and a 5-days study tour in Italy, which will include Macfrut exhibition.

    Giving his opening remark at the event held to flag off the training, the Italian Trade Agency Director for West Africa, Dr. Alessandro Gerbino said, “Nigeria remains a strategic point for engagement between the agency and other countries across West Africa. The E-Lab Innova holds prospects for Nigerian companies to be imparted on the knowledge and technicalities of their counterparts abroad whilst also paving the way for collaborations between Italian and Nigerian agribusinesses.”

    “It is a pleasure to see the collaboration between the Italian Trade Agency (ITA) and the Nigerian Export Promotion Council (NEPC), to develop the capacity of agribusinesses and aid their integration into the value chain of European Union markets. We remain committed to supporting the government’s plan to create more jobs through the agrofood industry and ensure that these businesses have the right skillset to grow, sustain their operations and contribute to the growth of Nigeria’s economy,” Dr. Gerbino added.

    In her keynote address, Uduak Etokowoh, Deputy Director, International Export Offices, Nigerian Export Promotion Council (NEPC), said, “the council constantly seeks out collaborations like this to strengthen trade relations across the world. The European Union (EU) is one of the largest markets for agribusiness, however, challenges such as logistics and inability to meet market needs pose a threat to growth opportunities. In adjusting to the new normal of virtual engagements, we are extremely delighted to partner the ITA to deliver this virtual training in support of wealth creation for the economy and to enhance seamless penetration to the EU markets for Nigerian agribusinesses”.

    13 agribusinesses across Nigeria took part in the first training session including United Agro Cooperative Society Limited, Cobrend Trading and more; the programme will involve nearly 40 Nigerian companies in total. Since the launch of Lab Innova in Africa, over 140 companies across Ghana, Angola, Mozambique, Uganda and Ethiopia have successfully gone through the training programme, with study tours and exhibitions held in Italy.

    About the Italian Trade Agency in Nigeria

    ITA – Italian Trade Agency is the Governmental agency that supports the business development of Italian companies abroad and promotes the attraction of foreign investment in Italy. With a motivated and modern organization and a widespread network of overseas offices, ITA provides information, assistance, consulting, promotion and training to Italian small and medium-sized businesses.

    The agency is committed to establishing strong contact with Nigeria with a major focus on industrial technologies that address the growth pattern Nigeria has adopted in several areas, so to add value to local natural resources and raw materials.

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    Sigma Pensions

    Using the most modern multi-channel promotion and communication tools, it acts to assert the excellence of Made in Italy in the world. ITA operates in 70 countries under the Italian Embassy.

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