ECONOMY

Simple Ways To Free Yourself From Financial Pressure

Published

2 years ago

simple-ways-to-free-from-financial-pressure

Simple Ways To Free Yourself From Financial Pressure

According to local parlance, “adulthood is a scam!” But in the real sense, is adulthood truly a scam? As people may find this notion relative, financial freedom is something that people in adulthood must understand: Simple Ways To Free Yourself From Financial Pressure.

But in all this, gaining clarity about your circumstances, taking charge of your finances, and making little changes that address your primary concerns are the best ways to lessen financial stress. Here are some valuable suggestions to help you manage your stress and go closer to achieving your financial objectives.

Simple Ways To Free Yourself From Financial Pressure

What Is Financial Pressure?

Financial pressure arises when money issues you worrisome. This, in most cases, comes with much stress and an outpouring of emotion. Past-due rent, recurring costs, lingering expenses, debt repayments, or future financial problems can induce financial strain.

Financial stress has an impact on your overall well-being because you are constantly concerned about what can happen if you are unable to keep up.

What Are The Signs Of Financial Pressure?

Cutting out necessities.
Arguments with friends and family on money-related issues.
Bad sleeping habits can, in turn, affect mental health.
Guilt feeling when paying for non-essentials.
You feel withdrawn from friends and family as you avoid spending money when you go out.

What Are The Ways To Reduce Financial Pressure?

Wise Spending

You can reduce financial pressure when you avoid impulse buying and priorities spending your money on necessities over luxuries. You can feel you don’t have enough money to handle your economical issues when you are narrowed down by money.

How you can achieve this is to put your needs on a scale of preference and then consider how you might cut back on your wants list. Look at your spending habits to find methods to cut back on the little things you do daily. Consider making changes to your budget to give more priority to objectives like paying off a high-interest credit card that would reduce your overall financial stress.

Create A Budget

A budget is an effective tool for understanding and controlling your finances. It assists you in saving money for future goals and preventing overspending. You can seek possibilities to reroute some of your monthly income to the areas causing you financial concern after you have a complete picture of where it is going.

For you to actualize this solution, you need to start with your net income, which is the monthly sum that you receive after taxes. Also, your expenses, including your rent or mortgage and daily coffee purchases, should be listed. Set up automatic payments for savings and regular bills.

You can use the Mintyn bank app to create a budget for yourself as we avail ourselves to manage the funds of our customers.

Save Money To Save Yourself

You can reduce financial pressure by saving money to bail you out of emergencies like illness, job loss, auto repairs, and other expenses like house rent, tuition fees, etc. Saving money is a healthy financial habit; as such, it must be cultivated religiously to stay atop financial freedom.

This should not be about how much you are saving, but it is a factor in your consistency. Yes, saving money can be daunting sometimes because of some beautiful products of fashion or fun flashing to your face, but its return is impressive.

For instance, I saved money with Mintyn Bank, and this helped my spending behaviour in such a way that I stopped sudden expenses, and by the time I got my money, the return was huge! Consider saving with Mintyn Bank too.

Identify Your Source Of Financial Pressure
Start by pinpointing the exact problems keeping you up at night if financial pressure keeps you awake. Finding the cause of your worry will help you decide what to do next, whether the issue is a lingering debt or upcoming bill payments.

Consider An Additional Source Of Income

Adding a new source of income can assist in reducing financial stress and help you improve your finances in addition to the advice given above.

Identify Your Source Of Financial Pressure
Whether you are looking for a second career or a side hustle, it can be a long-term solution or a temporary one to assist you in achieving financial objectives like settling debt and establishing an emergency savings account.

Today, there are various side hustles you can delve into, and they offer products and services to make more money and have financial freedom.

Conclusion

Financial pressure is a norm among adults, regardless of the country or region but saving money, creating a budget, and having an additional source of income are a few ways of reducing this pressure that is heating many of us.

However, you can save and make a budget for your expenses with Mintyn Bank if you are mulling over having financial freedom that will prevent you from wailing over emergency bills.

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BUSINESS

DealMakers AFRICA Recognizes Top Mergers, Acquisitions, and Dealmakers in West Africa

Published

2 months ago

Christopher

DealMakers AFRICA Recognizes Top Mergers, Acquisitions, and Dealmakers in West Africa

West Africa’s most significant mergers and acquisitions, along with the financial and legal advisers behind them, have been recognised in the recently released 2024 DealMakers AFRICA Annual Awards. The awards highlight transactions that have shaped the region’s corporate landscape, acknowledging the firms and individuals driving complex deals across industries.

The DealMakers AFRICA awards are determined primarily by objective criteria, assessing the value and number of transactions recorded. However, three categories—Deal of the Year, Private Equity Deal of the Year, and Individual DealMaker of the Year—are selected based on nominations from advisory firms. These are evaluated based on factors such as deal complexity, transformational impact, and potential value creation.

DealMakers AFRICA Recognizes Top Mergers, Acquisitions, and Dealmakers in West Africa

In the West Africa Deal of the Year category, four major transactions were shortlisted. These included Olam Agri’s acquisition of Avisen, Chappal Energies’ purchase of Equinor’s Nigerian business, Renaissance Africa Energy’s acquisition of Shell Petroleum Development Company of Nigeria, and the acquisition of Flour Mills by Excelsior Shipping. The winning deal in this category was the acquisition of Shell Petroleum Development Company by Renaissance Africa Energy, a transaction that aligns with Nigeria’s broader objective of increasing local participation in the energy sector. The deal saw ownership of critical onshore assets consolidated under a consortium of Nigerian companies, reinforcing local players’ roles in the industry. PwC Nigeria, Banwo & Ighodalo, Clifford Chance, White & Case, and G. Elias served as advisers on the transaction.

For the Private Equity Deal of the Year, three deals were in contention, including CardinalStone Partners’ exit from i-Fitness to Verod, Verod and its partners’ investment in Moniepoint, and Adenia Partners’ sale of Cresta Paints to Uhuru Investment Partners. The award was given to CardinalStone Partners for its exit from i-Fitness to Verod, a deal expected to drive i-Fitness’ next growth phase through Verod’s operational expertise and financial backing. The transaction was facilitated by Rand Merchant Bank Nigeria, CardinalStone Capital Partners, Udo Udoma & Belo-Osagie, and Olaniwun Ajayi.

The Individual DealMaker of the Year award, sponsored for the second consecutive year by PSG Capital, recognised five shortlisted professionals: Akinola Akinboboye of Deloitte, Ayotunde Owoigbe of Banwo & Ighodalo, Azeezah Muse-Sadiq of Banwo & Ighodalo, Daniel Adeoye of Verod, and Yewande Senbore of Olaniwun Ajayi. The award went to Daniel Adeoye, a partner at Verod, for his role in executing high-value transactions in the region.

Adenia Partners’ acquisition of Air Liquide subsidiaries across Africa was recognised with the DealMakers AFRICA Special Recognition award. The deal spanned 12 countries across three regions, with Adenia committing up to €30 million over the next five years to strengthen and expand the newly formed entity, Erium. The transaction was advised by Decrop Consulting, Asafo & Co, Fidal Avocats, Deloitte, DPGS & Alliance Partners, and ClassM.

The awards also acknowledged the top-performing financial and legal advisory firms in West Africa’s mergers and acquisitions landscape. PwC emerged as the leading financial adviser by deal value, followed by Rand Merchant Bank Nigeria, Citigroup Global Markets, and Treadstone Resource Partners. Rand Merchant Bank Nigeria and Stanbic IBTC Capital shared the top spot for financial advisory by deal activity.

Banwo & Ighodalo was named the top legal adviser by deal value, ahead of Clifford Chance, G. Elias, and White & Case. In terms of deal flow, Banwo & Ighodalo secured the top position, followed by Olaniwun Ajayi and Herbert Smith Freehills.

For equity transactions, Stanbic IBTC Capital was ranked the top financial adviser by transaction value, while Templars led as the top legal adviser in the same category. In debt transactions, Afreximbank ranked highest by value, while Olaniwun Ajayi led in legal advisory.

DealMakers AFRICA, which launched its awards in 2000 in South Africa and expanded to the rest of the continent in 2008, continues to highlight key transactions that shape African economies. The latest rankings reflect the growing sophistication of West Africa’s mergers and acquisitions landscape, as local and international firms navigate complex deals that are reshaping industries across the region.

ECONOMY

The Pan African Farmers’ Organization (PAFO) and African Development Bank Strengthen Partnership to Support Small-Scale Farmers

Published

5 months ago

Christopher

The Pan African Farmers' Organization (PAFO) and African Development Bank Strengthen Partnership to Support Small-Scale Farmers

The Pan African Farmers’ Organization (PAFO) and the African Development Bank (www.AfDB.org) are strengthening their collaboration to enhance support for small-scale farmers across Africa. A PAFO delegation led by its President, Ibrahima Coulibaly, visited the Bank’s headquarters on December 13, 2024, to advance the implementation of the Memorandum of Understanding (MoU) signed in October 2023.

Dr. Martin Fregene, Director of the Agriculture and Agro-industry, reaffirmed the Bank’s commitment to the partnership, highlighting its investments in agriculture, which have benefited over 14 million producers through initiatives that provide inputs and improve market access. He acknowledged persistent challenges in the sector and welcomed ideas from civil society organizations like PAFO to enhance the Bank’s impact.

The Pan African Farmers’ Organization (PAFO) and African Development Bank Strengthen Partnership to Support Small-Scale Farmers

Coulibaly outlined PAFO’s mission and strategic priorities to empower smallholder farmers and advocate for their rights, stressing the need for greater strategic support from the Bank to address challenges in agriculture, which has the potential to solve 80% of the continent’s problems.

The meeting culminated in plans to jointly host a High-Level Conference on Financing Small-Scale Farmers in the second quarter of 2025. This event will rally stakeholders to discuss the financial needs of small-scale farmers and explore sustainable solutions to improve livelihoods. Additionally, the two organizations agreed to develop a comprehensive action plan focusing on capacity building, technology integration, and access to finance, particularly for women and youth farmers.

“The Bank’s ‘Feed Africa’ strategy is an important step toward transforming Africa’s farming sector, and we are excited to work with the Bank to help shape this vision,” said Coulibaly. “Through this partnership, we are committed to helping farmers gain the support and resources they need to succeed, especially women and youth.”

This partnership aligns with the Bank’s ‘High 5’ priorities, particularly “Feed Africa,” and builds on its commitment to fostering collaboration with civil society organizations. The Bank recognizes the crucial role of such organizations in driving sustainable development.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

BUSINESS

Afreximbank and Ecobank partner to simplify trade and compliance for African businesses

Published

5 months ago

Christopher

Afreximbank and Ecobank partner to simplify trade and compliance for African businesses

African Export-Import Bank (Afreximbank) and Ecobank Group (www.Ecobank.com) have embarked on a collaboration aimed at simplifying trade and compliance for businesses in Africa by integrating Ecobank’s Single Market Trade Hub and Afreximbank’s MANSA Digital Repository Platform.

Afreximbank and Ecobank partner to simplify trade and compliance for African businesses

With the collaboration, African businesses will benefit from seamless shared services across the two platforms, with users of the Single Market Trade Hub able to easily leverage MANSA’s comprehensive database for efficient know-thy-customer (KYC) and customer due diligence (CDD) checks while MANSA platform users would, in turn, be able to directly connect to the Single Market Trade Hub to explore trade opportunities to expand their businesses across Africa.

The Ecobank Single Market Trade Hub connects registered businesses across Africa on a single platform, helping them benefit from opportunities in the unified market of 1.4 billion people created by the African Continental Free Trade Agreement (AfCFTA). It serves as a one-stop repository for the AfCFTA by providing small and medium-scale enterprises (SMEs) and corporates with insights about the agreement while its online match-making feature enables importers and exporters to upload their profiles and showcase goods and services they offer, or wish to source, with the aim of finding partners within Africa. Once a match is found, connections are made via the platform and the transaction can be concluded leveraging on Ecobank’s trade and payment solutions in 35 African markets.

The MANSA Digital Repository Platform, or MANSA, is a one-stop-shop for due diligence matters on all African entities. As a centralised digital repository, MANSA seeks to eliminate information asymmetry and to increase intra-African trade and trade with the rest of the world. It drives and promotes good governance culture among African SMEs and creates visibility for their businesses while also supporting African entities to expand, diversify and add value to their export products at both the local and international levels. Entities onboarded unto MANSA are allotted an Africa Entity Identifier (AEI) code which enables them to leverage other Afreximbank products and initiatives.

MANSA is also a key digital solution at the Africa Trade Gateway (ATG) marketplace which houses a suite of digital platforms designed as a single window to enable Afreximbank better deliver on its mandate, providing critical services to support and promote intra-African trade and the implementation of the AfCFTA. The platform enables African entities to accelerate their business activities at the ATG marketplace by working with verified information on trusted counterparties.

The new collaboration is, therefore, enabling Ecobank and Afreximbank to provide a central solution to the key challenge of KYC compliance and access to business across 35 countries in Africa. The improved interoperability is expected to further streamline cross-border trade and compliance in Africa, fostering greater financial and economic integration on the continent.

Afreximbank is a pan-African multilateral financial institution established to finance and promote intra- and extra-African trade.

Ecobank Group is a leading private pan-African banking group with unrivalled African expertise.

Discover the Ecobank Single Market Trade Hub at www.TradeHub.Ecobank.com and MANSA at www.MANSAAfrica.com