Money Talk

Africa’s Black Tax: A Sustainer of the Poverty Cycle

Feranmi Ajetomobi

Recently, Twitter was agog with a short but relatable tweet of a young lady (@Ojima4)  – a tweet with content synonymous to what is known as the black tax in the southern parts of Africa. The black tax is a tradition so common that it earned a prominent spot in Trevor Noah’s “Born a Crime”, really beautiful book by the way. To properly explain the black tax, we can lend the words of Gerald Mwandimbira of the Savings Institute, South Africa. In an interview with Vukuzenzele, a publication of the South African government, he said, “Black tax sees a person’s…

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Business Ideas

Thrift Collection Business – This Ancient Banking Model Is Still Very Profitable

Buchi

The origin is not known but Thrift collection business has been with us for a very long time in Africa. The popular Alajo Shomolu, arguably the first known organised thrift collector to operate in Lagos, started his business in 1954.  It is an old micro banking model which allows people to save in small amounts on daily basis for a period of time towards specific goals. Another name for it is Money Collection or Daily Contribution. The yorubas call it alajo, it is osusu in Igbo and Adashe in Hausa. In Ghana it is known as susu and tontine in…

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Make Money In Nigeria
Investing

Investment Opportunities in the Nigerian Money Market

Buchi

The financial market provides the platform for mobilizing funding for all economic entities – government, businesses, and households. There are two main segments of the financial market, namely the money market and the capital market.  While the money market is structured to mobilize and distribute short-term funds to economic units, the capital market mobilizes funds for long-term needs. This blog post focuses on the money market.  If you are looking for where to earn a steady income on your money and do so on a continuous basis over time, then read on to learn of the various options in the…

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Business Ideas

Vegetable Farming In Nigeria – What You Never Knew Until Now

Buchi

.Vegetable farming can be a money spinner for any enterprising entrepreneur. Why? Every household in Nigeria consume one type of vegetable or the other.  There is hardly any soup made in any household, in restaurants, hotel, local joints and boukas that will not contain vegetable.  And when you consider the fact that Nigeria has a population estimated at about 200 million people and still growing with hundreds of thousands of visitors into the country on a daily  basis, you will see why demand is high, why supply is always insufficient and why the business of vegetable farming is lucrative. If…

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Grow Your Business

5 Ways Digital Signage Can Benefit Your Small Business

Mia Clarke

In the current digital era, we have screens everywhere and people have a passionate love affair with all things digital. Shopping habits are changing and consumers are becoming more technology oriented than ever. Digital signage is now a trusted source of information used by consumers in choosing what to buy and where to shop. It offers new invigorating ways to display content and more businesses are utilizing the screens to showcase their products and grow their businesses. In addition, digital videos are modern and more versatile than traditional printed signage. But, it is not just for the business big-shots; smart…

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Money Talk

Easy Ways to Make Money With Your Smartphone

Buchi

You can absolutely make money with your smartphone. If you have a smart phone and some data subscription, you can earn good passive income by taking advantage of the many money making apps available at Android and iOS stores.  All you need do is download the mobile app of your interest and complete simple tasks as may be required.  These tasks may be to participate in a survey, watch short videos, play games or do such other simple things for which you may not spend more than 10 minutes doing. So rather than use all your data to socialize why…

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Money Talk

How to Set Up Emergency Fund

Feranmi Ajetomobi

Setting up and maintaining an emergency fund is an important money habit any one who desires financial freedom must cultivate One can define an emergency fund as the big brother you run to when there is a serious financial issue beyond immediate control. It is a stash of funds that must be built over time, and not one that is tampered with within short intervals. Life plays a very funny game of hitting us with unpleasant surprises sometimes, with an emergency fund though you can beat life at its own game. These funds come in handy when faced with job…

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Business Ideas

10 Ways to Make Money This Christmas Season

Buchi

Celebrated in about 160 countries, Christmas is arguably the most celebrated festival in the world.  Though a Christian rite observed in memory of the birth of Jesus Christ, the Christmas season has a universal appeal. Its universal appeal stems from the fact that the period coincides with the end of the year when social engagements are at their peak. End of year is usually packed with activities – companies hold retreats and strategy sessions for the coming year, individuals take vacations and travel around the world, social organizations hold dinners, town unions organize a get-together to end the year, fun…

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Grow Your Business

Effective Steps to Separating Your Business and Personal Finances

Buchi

What I found common, in my interactions with a good number of entrepreneurs is that they find it difficult to separate their business finances from their personal finances. More often than not the entrepreneur uses proceeds from his business to finance family-related needs.  This practice is a major reason why businesses fail. It is important that entrepreneurs understand the difference between personal finance and business finance.  Personal finance deals with the management of an individual’s cash flow – how you earn income, how you spend what you earn, how you invest and how you manage your risk over time.   Simply…

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Money Talk

7 Ways to Make Money With Your Social Media Accounts

Buchi

Social media networks come in many forms such as blogs, forums,  photo-sharing platforms, social gaming sites, microblogs, chat apps, and social network platforms like facebook, twitter, instagrams, youtube, etc. These have become an integral part of our daily lives so much that an average person is said to engage in one type of social media activity or the other for at least 2 hours every day. Facebook, the most popular social networking platform has about 2.3 billion active users as at second quarter of 2018 while it is estimated that by 2021 all social media networks combined will record about…

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