ScaleUp Africa Ignites A Global Growth Movement For Black Enterprises
Press Release ScaleUp Africa organised one of the biggest diaspora targeted entrepreneurship events in August 2020 attracting Entrepreneurs, Business Growth Experts, Investors, Creative Artistes and Innovators from North America, The Caribbean, Europe and across Africa. According to Einstein Ntim, the CEO of Global StartUp Ecosystem, main sponsors of ScaleUp Africa’s Festival, ”ScaleUp Africa has truly set the bar for curating an impactful international convening of the entrepreneurship ecosystem. We just witnessed a powerful, well-organised Africa-focused virtual business event and we’re very proud to have been able to sponsor such a historic event.” With over 40 Virtual Panels, Workshops, Interviews, Presentations and Artiste Performances featuring seasoned experts from a wide range of fields, the Festival put the spotlight on bottom-up Policy Frameworks, Tech, Agriculture and Creative industry opportunities as well as business insights from African music labels, artistes and professionals from around the world. On The Role of Corporations: African Angel Investment veteran, Tomi Davies of the African Business Angel Network (ABAN) said: ”Corporations must understand that one of the best ways to innovate is to tap into the early stage entrepreneurial ecosystem. This is not to be viewed as old fashioned CSR or Charity. Engaging with and supporting the entrepreneurship ecosystem should be viewed as an integral part of Innovation, R&D and overall Strategy.” Joe Mensah, former President of the American Chamber of Commerce, Ghana and Country Director of KOSMOS Energy said,”We must all lend a hand to support this effort and encourage more boards to report on entrepreneurship and innovation programmes as part of their Environmental, Social and Governance metrics.” For Amma Gyampo, the Co-Founder ScaleUp Africa, a women-led entrepreneurship advisory and business support firm based in Accra, Ghana and the conveners of this event, the message is simple: “Let’s build up the trust, systems and partnerships required to grow stronger, profitable, job-creating businesses while delivering on social impact. “There’s an entire community of entrepreneurial leaders that have built world-class talent, tech and solutions but it’s important to connect them to distribution channel opportunities that governments and corporations hold the keys to. Even investors are innovating to boost the growth and performance prospects of this community. This ecosystem has so much value, data, insights, new business models and potential solutions to offer. We facilitate deeper engagement with corporations, foundations and DFIs to promote the growth of our most cutting edge small businesses.” ScaleUp Africa: A New Breed Of Black & African Business Leaders The Festival attracted over 3000 registered attendees and streaming viewers including active Investors that shared their insights about their current deals in Africa during the Pandemic. In attendance were a number of leaders and influencers from the African creative sector and Black entrepreneurship ecosystems from countries including Jamaica, Trinidad and Tobago, Ghana, Nigeria, Mauritius, South Africa, UK, Canada, USA. Attendees were encouraged to study macro-trends like digitalisation, self-reliant agriculture, tech and industrialisation as a way to boost their chances of growth and sustainable business success. There was also an emphasis on building profitable businesses from the start and promoting venture investor community building to improve access to funding for Black founders globally. International venture investors that were present at the event included Maya Horgan Famodu, Eric Osiakwan and Rodney Sampson. Global brands, affiliates and personalities in attendance were Fuse ODG, Paul C Brunson, Chocolate City, Afropolitan, Ubiquitous Games, RocNation, Afrochella, OHUB, Africa Business Angel Network (ABAN), IFFAC (Roberta Annan), The Adinkra Group, Year of Return, Africa 2.0, The Office of The President of Ghana (Diaspora Affairs), The Tony Elumelu Foundation (Parminder Vir, former CEO) and GUBA (Dentaa Amoateng MBE) among others. Support organisations like ScaleUp Africa play an important part in the global, African and Diaspora conversation around bridging the racial wealth gap and the need to provide better, longer term support for Black and African Entrepreneurs. ____________________________________________
Hannah Olukoye: Working in Information Technology- My Perspective
According to data from the National Center for Women & Information Technology (NCWIT), only 25% of Information Technology jobs worldwide are held by women. Only 3% of those women are Black/African. There is a huge lack of diversity in the Information Technology Industry. If you need an image of an African woman working in the IT industry, picture Hannah Olukoye! Hannah Olukoye is a Kenyan software developer working in the IT industry. She is a graduate of Jomo Kenyatta University of Agriculture and Technology in Actuarial Science. She is currently pursuing her master’s degree in Applied Information Technology at the African Nazarene University. Take a look at how her experience and expertise have opened doors for her as a Software Developer. How did you get started in the Information Technology field? I have always had a passion for programming even though I majored in Actuarial Science at the University. I started off with part-time courses in basic programming languages as soon as I graduated and combined that with a lot of online courses that were offered on free websites. As an African woman, was it harder for you to enter the IT field? I am lucky to be born in a country that believes in equality for both genders in education. In the beginning, there were fewer women in IT compared to the numbers we see now. It was more male-dominated, especially in the local workplace. I would be in teams where we were only two female developers and sometimes, I would be the only female Information Technology expert. What changes do you foresee in Software Development across Africa? I see tremendous growth in the number of women sticking to IT, especially when you look at programs like AkiraChix and GADS that are providing more opportunities for developers. These programs provide opportunities to not only learn how to code but also teach them how to make their work stand out. I am now part of a team-building an Android application that will use machine learning, algorithms to provide solutions to health workers across Africa. I gained confidence in my knowledge through the community. Would you encourage African women to pursue a career in Information Technology? Yes, I would! Most women have a hard time being in the IT field because they are treated unfairly and even underpaid, compared to their male colleagues. This causes many women to be unable to advance in their careers. One of my goals would be to attain more senior roles in companies or organizations that are leading in the Tech field and change the status quo.
There is an unnecessary stigma around pole dancing- Flirty Fitness Founder, Queen Nkpubre
Queen Nkpubre is dedicated to nurturing Flirty Fitness- a space where Nigerian women can freely explore their sensuality through pole dancing. “I noticed that women express a certain level of discomfort when they exercise in the same spaces as men and it made them less likely to return to the gym. So I decided to do something about it,” she said. This article covers Queen Nkpubre’s experience running Flirty Fitness and valuable lessons you can learn and apply in your journey through life. What is the drive behind Flirty Fitness? First of all, women are running the world and we need to empower ourselves to run it well by staying healthy. Women also statistically live longer than men and tend to have more health-related issues in old age. So while we are living longer, we are living poorer lives. Women take care of everybody and sometimes it is to our own detriment. We take care of the kids, husbands, extended family members, you know, everyone! There is this famous saying that you can’t take care of anyone properly until you take care of yourself and I strongly agree. Dance is a great way to unwind and take care of ourselves. It is something that we can happily lose ourselves in and be energised by. Another important thing is that our bodies are constantly changing- from puberty to pregnancy to menopause- it is easy for us to lose touch with our sensuality, our confidence and our beauty. So an activity like pole dancing is a good way to keep those core parts of ourselves alive. What is a common misconception people have about pole dancing? People still associate it with stripping. The stigma around pole dancing keeps “respectable” people from trying it out. Even when they do, they do not want their pictures to be taken or shared online and I understand that. Still, there are people that are bold about it because appeals to their adventurous side. What are some lessons we can learn from your experience with Flirty Fitness? Be at the forefront of your brand: Don’t shy away from your brand, if anything, pitch your brand. Have enough confidence in your brand to passionately advocate for it in spaces you think it should be in. Be ready to do the backend and frontend work. Don’t hide. Be sure about your why: Before you go into anything, you should know why you want it. Do not start something just because it is trendy or it seems like it will gain popularity. You need to be very sure because there are things that will discourage you. If you are sure of your “why” even when those challenges come, they won’t make you give up easily. Ask for feedback: It is so easy to be so caught up in the process of what you are doing. When this happens you may not easily see some things that someone removed from the process may notice. We all have blind spots no matter how smart we may be. For amazing exercise-related content and valuable health tips, visit the Flirty Fitness Nigeria website and follow on Instagram.
Be Consistent About Your Growth- Kutama Peanut Founder, Mary Asanga
Mary Asanga juggles being a full-time student of biochemistry at the University of Uyo and running a business with grace and grit. “I started my business to make ends meet but along the line, I wanted to make my business distinct. I wanted to serve a purpose,” she says. Once Mary was set on what she wanted to do, she decided to be intentional- “When I started, I wasn’t business savvy. I didn’t know the basics but I wanted to learn. There was this drive to be better and that drive gave me the desire to apply for many opportunities.” In this piece, Mary shares her business story and valuable insights from her experience as a business owner and full-time student. Why did you choose to sell peanuts? I got a Nature Valley snack bar as a gift from a friend and it was really nice. So I went to the supermarket to find something similar that is locally produced and there was hardly any. It was just imported peanut snacks or regular peanuts. That inspired me to do something. So, I began researching peanut snacks and how they can be used to support the diet plans of diabetic people. I noticed that this particular group of consumers are often ignored by the food and beverage industry. What does Kutama mean? Kutama means, “when you see, you will love. How do you juggle being a full-time student and a business owner? When I started, I ensured to move productions to weekends, I would source for raw materials during the weekdays after lectures. This way production was less tedious. On weekends, my team and I would block off a time to produce and then on Mondays, we distribute to schools, staff quarters, student hostels, stalls and some locations in Lagos. We managed this model up until 2019. Once my course load reduced and I had more time, we increased production by 50% and our customer base also grew. What are some lessons you have learned from running a business? Fight your fear- One of the problems I had when I started my business was fear. There was this fear that, “Oh, it is just peanut snacks. What is so special about peanuts that other people cannot do?” At some point though, I realised that I had to fight the fear. There are still times when I doubt myself and when I fall into that trap, I look at where I am compared to when I started and it gives me hope. Be consistent about your growth- Never stop looking for opportunities that will further your growth. Regardless of what your business is, so far, if you are providing a solution that people need, you should not hold back from seeking avenues to be better. There are so many lessons to learn from experienced business owners who have gone before you. They can give you insights so that you don’t step on the same land mines that they did. It also gives you an opportunity to network. When you are hungry for personal growth, you get to learn more, broaden your horizon and realise that your business has the ability to create more impact than you ever imagined. Do your research- Study your customer. It is very important to research your potential customer. Don’t assume that you know what they want. Research on how you can serve them better with your product and your business practices. Follow Mary Asanga to keep up with her journey and you can buy delicious peanut snacks from the unstoppable Kutama brand via Instagram or Twitter.
Meet Chebet Chikumbu: The Global Citizen trying to solve Africa’s youth development and education crisis
“Inside Global Citizen” is a limited series that will run during the month of August. It will pull back the curtain and highlight members of Global Citizen staff who are key parts of the organization’s advocacy, impact, and more. Be part of our community of outstanding women by joining today. The United Nations estimates that a quarter of the world’s illiterate population lives in sub-Saharan Africa. With the 2020 COVID-19 pandemic further crippling Africa’s already fragile education systems, the challenge to develop the future of Africa remains a daunting task. At Global Citizen, Chebet Chikumbu is leading an all-women team focused on youth development across Africa to solve this big education and literacy crisis. CHEBET’S JOURNEY INTO YOUTH DEVELOPMENT Chebet’s passion for seeing growth in Africa started at a very early age. When she was 10 years old, her parents whisked her away from Kenya to boarding school in South Africa where she developed an appreciation for Africa’s diversity. While she initially wanted to become an accountant like her father, her goals shifted as she began to learn more about countries across Africa, and noticed the prevailing inequalities that were similar across the board. With this new awareness, she found herself leaning more towards humanitarian work than accounting. Today, Chebet works as the Regional Director for Southern and Eastern Africa at Global Citizen and identifies herself as a Pan-African woman with roots in Kenya, South Africa and Zimbabwe. “I have really come to understand our similarities as Africans but also the nuances in a way that has given me a very profound appreciation for what it means to identify with a Nationality like a singular place.” – Chebet Chikumbu. INSIDE CHEBET’S JOB: SOLVING A MAN-MADE CRISIS To create sustainable and practical solutions to the problems of youth development and education, Chebet’s team identifies governments and corporations that can support priorities around the United Nations’ Sustainable Development Goals (SDGs), develop campaign strategies, and mobilize support across sectors. With her all-star team, Chebet oversees Global Citizen’s campaigns and ensures that commitments made through the Global Citizen platform are delivered and have a real impact on the intended recipients. “It became clearer to me that a lot of what we see is man made. And, if these are man made problems, it means that there are man made solutions. And if we collectively put our heads and our hands to work, we can come up with the necessary problem solving that is required to address the world’s most pressing problems.” – Chebet Chikumbu. BeyGOOD: A SUCCESS STORY IN AFRICAN YOUTH DEVELOPMENT Chikumbu has had great successes with her team at Global Citizen. Inspired by Nelson Mandela’s passion for youth development and education, as well as his legacy of empowering future generations, Chebet and her team launched the Global Citizen Fellowship Program Powered by BeyGOOD. The Global Citizen Fellowship Program Powered by BeyGOOD is equipping young people with the skills they need to play a role in social justice, helping their communities achieve the SDGs, and amplifying causes that they believe in. Now, the Fellowship program is kicking off for its second year — with an extraordinary class of 10 young people. Designed to empower young people with work experience, the program is not only supporting the vision of a South Africa that nurtures its youth. Each fellow will also have the benefit from personalized mentorship from leaders in entertainment, business, government, and civil society — all aimed at enabling them to realize their potential to become global agents of change. Chikumbu encouraged young people to apply and engage in the paid, year-long fellowship aligned to one of Global Citizen’s four pillars of activity: creative, campaigns, rewards, and marketing. The next application period would be in 2021. ADVICE: HOW TO FIND THE RIGHT MENTOR The mentorship program is an aspect of The Global Citizen Fellowship Program powered by BeyGOOD that Chebet is especially proud of. With a career that has spanned over 15 years, she emphasizes that an effective mentor can create an open environment for young African women to express themselves and be heard. “I can attest to the fact that mentors have really helped me shape my career in my 20s, and especially now in my 30s because I am thinking more broadly around how do I deepen my thought leadership and how do I truly become the light that I want to be and that I want to see in the world.”- Chebet Chikumbu. To find the right mentor, Chebet advises that you look for somebody who believes your intentions and is invested in seeing you be great without any strings attached -the key is you have to ask! SOLVING A CRISIS DURING A GLOBAL PANDEMIC The pandemic has not spared Chebet and her team. According to Chikumbu, prior to the pandemic, Africa had been making progress to meet the 17 goals. Now, even those targets where that had almost been hit are under threat of having decades of progress wiped out in a matter of weeks. “Due to COVID-19, an unprecedented health, economic and social crisis is threatening lives and livelihoods …we know that people of colour are disproportionately affected and we know that on the continent it means that the majority of those people of colour will be young and under the age of 30.” – Chebet Chikumbu. The UN says global school closures have kept over 90% of students worldwide – 1.57 billion pupils – out of access to education, and among them, 370 million children are missing out of school meals that they depend on. For those without access to internet and computers at home, remote learning is not an option, meaning almost no education for the duration of the crisis. In short, if we thought it was real out here, COVID-19 is teaching us things can be a whole lot more real with existing inequalities and injustices. THE FUTURE OF YOUTH DEVELOPMENT AND EDUCATION IN AFRICA While progress might seem daunting, all hope is not
Get support for your kids’ education through the 2020 WEMA Educational Award
[adrotate banner=”4″] As a parent or guardian, paying for your kids’ education can be a big deal especially with everything going on right now. We need all the help we can get. There’s nothing like a bank that has your back, and that’s why Wema Bank is here to help! Wema Bank, Nigeria’s leading innovative bank, is set to award 20 school children with a N50,000 School Support Fund in the 2020 Wema Educational Award. The annual award is available to holders of the Bank’s Royal Kiddies Account and holds in September, 2020. How can your kids qualify? Parents and guardians are to open a Royal Kiddies Account in any Wema Bank branch close to them with a minimum of N100,000 before September 12, 2020. If you’re a parent or guardian who already has a Royal Kiddies Account, you can top up your balance to N100,000 before the deadline to also qualify. The winning accounts will be notified of their reward after the final selection on September 18, 2020. The best way to save for your kids education! The Royal Kiddies account is a savings account opened by parents and guardians to help you save up for your children’s education. As a Royal Kiddies account holder, your child gets to enjoy a competitive interest rate of 4.75% on savings, an E-Purse for electronic transactions and many other incentives including an opportunity to win the annual Wema Educational Award! Dotun Ifebogun, the Divisional Head, Retail Business, Wema Bank says, “It is our way of supporting parents in educating their children and we are happy with the impact we have made in the past years. “This year, education has been greatly hampered by the breakout of the COVID-19 pandemic and we hope this will go a long way to support this year’s winners as they settle into the new normal. We also hope to use this gesture to help inculcate a savings culture into children and prepare them for financial freedom early.” You heard it here first. This is your chance to get the support you need for your kids’ education so don’t wait up!
4 Ways You’re Losing Money Without Realising It
[adrotate banner=”4″] Money is such an inexhaustible topic – we talk about earning it, investing it, spending it, and even sometimes losing it. We’re usually focused on the first three and barely pay any attention to the likely ways we have been losing cash. Most of us don’t have trust funds waiting for us, so every naira counts. Being on the lookout for money-sucking expenses can go a long way in increasing your disposable income. I’m going to let you in on things you’re doing too much of or not doing at all that could cost you some dollar bills (or whatever currency you spend). [bctt tweet=”Tracking your expense schedule, asking for a discount and buying items in bulk can help save up cash and thereby reducing the risk of losing money – @adeyojuwon” username=”SheLeadsAfrica”] 1. Bank Charges It’s so funny that the banks are starting to do the exact opposite of what they’re meant to be doing- helping people save money. The Fix You probably have more than one bank account/debit card. Each account attracts individual maintenance costs. A simple solution to ridiculous bank charges is trying as much as possible to have one savings account and one debit card. This will help eliminate charges that may arise from owning multiple accounts. You can reduce constant cash transactions and erase the need for unnecessary bank fees by having a budget that’s restricted to how much you’ll need for a week. 2. Delay in Paying Off Debts While taking a loan isn’t a big deal, delaying pay-off is quite a big deal. Especially when it has interest attached to it. Interest accumulates over time so delaying your debt pay-off inevitably increases the amount you’ll pay eventually. This means you’re gradually losing money. The Fix Once you have an inflow of cash probably due to holiday bonus or a salary raise, it is advisable you pay off your debt as soon as possible. This could give you a little extra to spend on other things and potentially save you a lot in interest payments. 3. Avoiding Negotiation Another money-draining factor that might not have ranked high on your list is negotiation. A lot of market vendors on this side of the world rarely quote the actual prices of their products. Most of the time, you’re expected to bargain and beat down the prices a little bit more. This negotiation rule also applies to the professional world. You’re expected to negotiate your salary and not simply accept what you’re initially offered when you apply for a new job. According to a paper by Harvard Business School, women are most likely to agree to the first offer on the table and lose money in the process, as well as better chances for career growth. It is time we change the narrative. The Fix Weighing other options available to you by knowing what prices other vendors are offering will go a long way when it comes to saving money. This also applies to knowing what other employees earn before you take a new job. This similarly applies to online stores, when I was buying my new phone, I checked a couple of online and physical stores to get the best price and avoid being overcharged. Always remember that avoiding negotiation comes with a price! 4. Subscriptions Technology comes at a cost. There is a cost attached to watching an endless stream of movies and listening to your favourite music. There’s a long list of other subscriptions- magazines & newsletters, fitness groups, diet plans and a whole lot more. It’s easy to forget what you’re subscribed to when payments are done automatically. The Fix You should only subscribe to plans you use regularly. This will help you avoid wasting money on plans you don’t get the most from. Certain subscriptions can be done with a group of people to save money on the total cost. Other significant ways you might be losing money includes wasting food, cancelling your Uber or Taxify rides, and impulsive spending. Interested in contributing for She Leads Africa? Click here.
Want to map out your own career path? Here’s how!
[adrotate banner=”4″] Think about a career as a personal journey. How person ‘A’ makes it work, is never the same as how person ‘B’ makes it work. In an industry with hundreds of skilled talent coupled with the rapidly evolving times, how can you craft your own path and remain relevant? Now more than ever, is the time to be intentional about what you bring to the table; what makes you unforgettable? Case in point- the career journey of popular Nigerian Media Personality, Toke Makinwa – she went from making the big move from banking to being the media star we know today. The key to her progress has been owning her unique career journey. How do you map out a career path tailored just for you? The three P’s for writing your script are Purpose, Place, and Plan! No purpose means no perspective! The secret to a knock-out career is a personal vision. What is your ‘why’ and how can the world benefit from this? Quickly identifying this helps you to know right where you fit in. Think about it this way: without ‘you’ there is no career. So, authenticity is required to create or find the right opportunities for you. This is what will enable you to be successful irrespective of the dynamism of your sector. So, what if machines took over your sector, how would you evolve to stand the test of times? The answer is ‘you’. I have always envisioned a world with more women who are relevant and living their authentic lives. This is my personal vision and it translates to the kind of career choices I have made. Through my various roles as writer, administrator and civil leader, my purpose has not changed. Knowing your place means there is a vacuum just for you What are you able to bring to the table? Remember it is all about you, and how you can make everything work in your favour. What has kept Ms. Tyra Banks relevant until now, is mapping out a career path that only she can execute. What is your place in the industry you are in? Where can you work or not work? The path becomes even narrower. It takes consistency to find a niche or establish a track record, but when you can identify what exactly it is you bring to the table as well as where you can function in terms of delivering your personal vision? That’s when you know you are off to a great start. In my case, after identifying how I could add value to the female audience, I developed my niche as a columnist on a lifestyle blog for women. I created a column for aspirational women; for daily motivation and personal development. This was how I started out, which in turn enabled me to learn a lot about myself, and evolve. I have built my career on this foundation. Draw up a plan for you or go home when their plan changes I mentioned Tyra Banks earlier. Actually, Tyra was forced to make sustainable career plans when her industry rejected her. If she took the list of designers who said they couldn’t book her anymore and admitted that she was done, she wouldn’t be who she is today. Instead, she rewrote her narrative by creating opportunities for herself. Having found a purpose and a place, then there has to be a great plan to keep you relevant. Like a custom-made strategy just for you. In formulating a plan, ask yourself the following questions: What is the right network for me? Where is the right environment? How can I gain more confidence and experience? What is crucial to remaining relevant? In answering these questions, you will be able to craft a career strategy for yourself. To wrap this up… I have been able to identify opportunities that re-enforce my competencies, which in turn have helped me evolve in my career. This consistency has helped me to learn more about myself, and envision where I would like to be in years to come. I first started out as a content creator for women, but I have evolved to channel my passion of empowering women, into development work and not just media. As a key-employee in an organization for women, I have first-hand experience in helping women stay relevant. If you are hoping for a Toke Makinwa or Tyra Banks type of evolution, then you need to put yourself at the centre of your career. Not the money, or being on fleek, or the people you are rolling with. Think hard to make the right decisions. Long-standing personal brands are birthed from consistency. How have you mapped your career path? Let us know more about you and your story here.
Overwhelmed? Here’s How to Succeed in these Times
For a start babe, how are you feeling today? I know that these past few months have been challenging. Business sales are declining, pay cuts at work, bank accounts are turning red and being indoors is getting the best of us. For some of us, thinking of how to succeed is the last thing on our minds. We’re more about how to survive. There is SO MUCH going on and I bet we are all looking for ways to stay sane during and after this pandemic. But the truth is, bags still need to be secured and money has to be made- pandemic or not! So here are a few tips on how you can succeed in the new norm. 1. Stop feeling sorry for yourself If you really want to succeed, you will find ways to change where you are right now. Self-pity won’t take you there. If your mood is not right, take a brief meditation break or dance to your favourite song. Shake off that bad energy because better days are here! 2. Create a gratitude journal Get your notepad and list out a few things you’re grateful for today. Think about your family, friends, things that went well, the growth you’ve experienced and any other positive parts of your life no matter how big or small. 3. Never stop marketing yourself If you’re a business owner, start treating every piece of communication you send out as another chance to market your product. Show your best pieces and update that Instagram account with your latest products or discounts. Most importantly, remind family and friends about your business. 4. Don’t be stagnant We’ve been forced to conform to changes that we have little or no control over. If you’re thinking about how to succeed, this is the time for you to re-evaluate your business goals in relation to the current economy. Find ways to thrive girl! The world is evolving and so should you. Don’t just exist. Live. Explore. Challenge yourself. 5. Keep the vision alive! You need to have a vision of who you want to be. Succeeding in the new norm means breaking through the hard shells to come out renewed and rejuvenated. It means doing it your own way and making the best out of everything. To build that amazing business or career, you need access to resources that can help you. She Leads Africa has consistently delivered valuable content and experiences for women to live their best lives over the years. Where did the pandemic hit you the most? A decline in business sales, a pay cut or you’ve exhausted your savings. Whatever it is, you need a strong support system to push you to exceed limits and take on opportunities you never thought you would. These are some benefits of being a part of the SLA community. Grab your squad and join the train of successful women in the 21st century. Join the SLA community!
Here’s how to switch up your money management style!
[adrotate banner=”4″] [bctt tweet=”Much of our anxiety stems from the fact that we just don’t know what’s going on with our money” username=”SheLeadsAfrica”] Have you ever interrogated your feelings about money? How would you define your relationship with money management; comfortable, in control, dysfunctional? Even with solid financial advice, some people still feel a level of anxiety around personal financial management. Sadly the topic of money is still viewed by some as ‘the last taboo’, and as a result, many of the attitudes we have towards it go unexplored. As budding #MotherlandMoguls, building a healthy mindset around money management should be a priority. Here are a few tips to help you to make peace with your bank balance, manage your personal finances and develop a healthy money mindset. Determine your ‘money personality’ A useful place to start is to try and understand how you instinctively relate to it. Similar to taking a regular personality test, this will help you to understand some of your predispositions toward money management. You can find a whole bunch of free ‘money personality’ tests here. Keep good records, make good plans Recognizing your financial patterns and setting financial goals is the key to building a healthy relationship with your money. Much of our anxiety stems from the fact that we truly just don’t know what is going on with our money. Sound daunting? Don’t worry, we are here to simplify the struggle. Finance guru and friend of SLA Samke Ndlovu Ngwenya put together this worksheet to help you think through your goals, and keep track of your personal financial management. While you are doing this, take a look back at money management mistakes, or successes you have made and look out for patterns and lessons. Figure out your conditioning We all have a certain level of conditioning when it comes to money which has been proven to affect how we relate to it. For example, if you sincerely believe you deserve to make money, and that you are able to do so, this conditioning is considered positive. It can also be negative and limiting, for example, thinking about money with fear or scarcity. This conditioning is the filter through which you interact with your money. Money coach Lynette Khalfani-Cox says, “You have to ask: what falsehoods and ideas am I believing that are actually sabotaging my efforts, or keeping me from fulfilling my potential?” Work to change these ideas. You could even try out money affirmations if that’s your thing. To help you out with all the serious introspection you are about to do, I caught up with two savvy businesswomen. They gave me some insight into how a successful entrepreneur relates to their money. [bctt tweet=”Money means the ability to uplift – Carol Bouwer” username=”SheLeadsAfrica”] Carol Bouwer is the Founder and CEO of Carol Bouwer (CB) Productions. This pioneering businesswoman is a committed champion of women. Her company PB Productions is behind The Mbokodo Awards which celebrate the work of South African women, as well as The African Odyssey experience. What does money mean to you? For anyone with an entrepreneurial spirit and a desire to be part of shaping our community for the future- money gives you the ability to uplift. Materially and psychologically- money gives you the opportunity to create employment and empower others. It gives you the ability to inspire others to see what results could be possible if they apply the same level of discipline. Money is not the goal but it helps you achieve the goal. Is there a specific event/lesson that has shaped how you relate to your money? Losing it young. Some of the mistakes I made with money management as a youngster have been the greatest gifts in my financial life. The lessons are etched in my mind so they can never be repeated. My big thing with this as in everything in life- don’t lose sleep and lose the lesson- lose the former and gain the latter at all times! What do you wish you knew about money management when you received your first salary/ paycheque? Budgeting! I had a whole list of needs and wants but lacked the wisdom to differentiate between the two. To this day I remain grateful for being raised by an “interfering mom”… many of the mistakes I could have made did not happen thanks to her wise interventions. What habit have you formed, or what trait do you possess, that you believe helps you with your finances? Sobriety and respect. This applies to finances and many other aspects of life. It is easy to be impulsive but the most important trait one requires is respecting the work that goes into building one’s wealth. Being mindful of the energy you put into making every cent is what makes you more discerning about the choices you make when parting with it. Mindless spending is sometimes unavoidable in our youth but in this day, if I am not mindful of what I am spending my money on then I don’t deserve a cent of it. [bctt tweet=”If I’m not mindful of what I’m spending my money on, I don’t deserve a cent of it- Carol Bouwer” via=”no”] Where do you go to get sound financial advice? I could tell you to get a financial adviser or acquire financial planning services but I am not one to say that. My answer is, go internal. You inherently know what to do. You had the wisdom to acquire it, trust in your wisdom to grow it. Read and study the markets. Even when you go to your broker, ensure you are not solely an audience but participate. This is even more important for times when there are losses. It allows you to feel you made empowered and informed choices rather than blaming those to whom you hand your money over. [bctt tweet=”Be honest with yourself and those who need your financial support – Nicolette Mashile” username=”SheLeadsAfrica”] Nicolette Mashile is a social entrepreneur, property investor