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HOW WOMEN CAN TAKE CONTROL OF THEIR FINANCES

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HOW WOMEN CAN TAKE CONTROL OF THEIR FINANCES

HOW WOMEN CAN TAKE CONTROL OF THEIR FINANCES

 How Women Can Take Control of Their Finances: Money and Mental Health

 Have you noticed that you always feel down when you do not have money?

There is usually a certain cloud of sadness that surrounds you, and you become irritated at everything. Not to worry, even the best of us experience this phrase when we do not have money. Sadly, the lack of money could affect mental health.

Some people may say that the love of money is the beginning of all evil. We are not here to dispute the ideology. However, there is a need to have a financial net.

Irrespective of your gender, you are sure to feel down when you do not have money. Unfortunately, we have noticed that there are higher chances of women not having money or not being in control of their finances for one reason or the other.

This article focuses on how women can take control of their finances.

Six (6) Ways Women Can Take Control of Their Finances

A few days back, we celebrated Women’s Day, and the month of March has been dedicated towards women. You’d always see people hailing women for being strong, being the bond in the home, never tired of showing affection, etc.

But have you considered that some of these women lack financial control? Why does it always seem like women do not have money?

Here are some ways to rectify this issue as a woman:

  •  Have a budget and stick with it

You must have heard warnings about going shopping with a woman as women love to shop until they drop. We see that this happens with many women. While we are not against it, we have discovered that a factor why such happens is because women have a tendency to not stick to their budget.

You’d often see women writing a shopping list before setting out of the house. But you’d begin to wonder why they went through the stress of writing the list as they tend not to stick to the list. Once they see anything that gets their attention, they would want to buy it.

Now, is it still a wonder why women do not have control over their money?

Dear ladies, if you set out a budget for the month, try to stick to that budget as much as possible. If things later come up that you desire to get, you can note them and push them to the next month’s budget.

Once you’ve hacked the art of sticking to your budget, you are on the right path to having control over your finances. Yes, we know that the habit of budgeting and sticking to a budget isn’t easy. However, you need to stay consistent at it for it to become a part of you.

  •  Build discipline against your backup plan

 We doubt there is anyone in the present society who doesn’t have a backup plan. As you set out to spend, we know that there is a savings account somewhere that serves as a ‘backup plan.’

Often, when people receive their salaries, they tend to set aside a certain percentage or amount and put it in their savings account which is quite commendable. However, we have noticed that some women are in the habit of touching their backup plan without exhausting other options.

You will hear them say that they need the money for an urgent family need or for one reason or the other. It is always amusing as they never run out of excuses for why they need to touch the backup plan.

We are here to tell you that you need to build resistance against your backup plan. There is a reason why it is called a backup plan as it is there for rainy days, and every day cannot be a rainy day.

You need to be determined and remember the reason why you set up the backup account initially. Again, allow us to tell you that it wouldn’t be easy as you’d always be tempted to touch the backup plan. But it is where discipline comes into play.

  •  Learn to let go

Interestingly, we have noticed that women love to take on so many responsibilities and always want to be solution providers. Once a woman hears that you are going through a rough situation, she embodies your issue as hers and springs into action.

Soon, you would see her trying to rally around and help you get money. It could even be that she doesn’t have the money to spare at that time. But she still goes around trying to help you and doesn’t even mind taking a loan on your behalf and getting into debt. Typically, we would say that her motherly instinct sprung into action.

The way women always want to handle things and ensure that everything goes smoothly is quite admirable. But, women should learn to know how and when to tone things down and let go.

It isn’t every situation that you can handle as a woman. Once you notice that the situation would get you indebted, you should take a step back. If it is something you can handle without any stress, by all means, go ahead and do it.

However, if it would affect or dampen your finances, that’s a red flag for you to stop.

There are several other steps in which women can take full control of their finances | Money.

  •  Become friends with savings platforms

 What’s your favourite savings platform?

If you are not saving with Mintyn Bank yet, what are you waiting for? The best thing about our platform is that we give you provisions for target savings. Here, you can track your savings for a particular goal in real-time.

In addition, you can also use Mintyn Bank as a general savings platform. We ensure that your money stays secured and you can access it whenever you want.

It is important to note that everyone needs a trustworthy savings platform. One that is easy to use and gives you peace of mind. You can be sure that we won’t run away with your money. Instead, we are here to encourage and improve your savings habit.

We have our hands of friendship open to you and cannot wait to have you in our arms. We are sure that it would be a mutually enjoyable relationship!

Your savings platform should be one of your best friends as it is where you build for the future. We want a situation where you would always wear a smile on your face anytime you look at your savings platform.

If you do not have a dedicated savings platform yet, you should set up one now!

  •  Make investments

 It is always shocking to have conversations with some people and see that they think or believe that making investments isn’t something for men. Are men the only ones supposed to have control over their finances?

One of the best ways of securing your finances and future is by having an investment portfolio. Thankfully, there are various investment options and you get to pick the one most suitable for you. If you have not hopped on an investment train yet, you are not on the right path.

When you make investments, you are making your money work for you and you will reap the fruits of it in the future. With an investment portfolio, you have an air of confidence that you are covered for the future and will not go broke.

We encourage more women to go into the investment space and make the best out of it! It is best to keep in mind that the odds are at stake as you are doing it for yourself and not anyone else. It is best to invest now so that you do not have regrets in the future.

We can assure you that you will find it enjoyable once you immerse yourself in the world of investments.

  •  Set frequent goals 

One way of taking control of your finances is by setting frequent goals. It could be weekly or monthly goals. The idea of setting frequent goals is to push yourself. Now, we know that you wouldn’t like to disappoint anyone, especially yourself. So when you set a goal, you would strive to ensure that you meet and beat that goal.

But it shouldn’t stop there. Once you meet that goal, you should push further and set another goal. It then becomes a continuous process of meeting your set financial goals and it makes you happy.

There is a certain sense of happiness and accomplishment that comes with hitting your set milestones. It also gives you the confidence that you can do more.

Soon, you will be preaching to people about financial happiness and how to hit their financial goals. You will also notice that you’ll be a happier person and wear a smile always.

Don’t all these sound fancy to you?

Setting targets and goals is like having a checklist to ensure that you are on the right path. In no time, you’ll see that you won’t have an issue with control over your money any more. See

The time is now to take charge and ensure that your financial life is on the right path. Do an audit and follow the steps we have highlighted!

 

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African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade

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African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises

The African Development Bank Group (www.AfDB.org) and Standard Bank Group (SBG) on Monday signed a landmark financial agreement to enhance funding for small, medium, and micro enterprises (SMMEs) and expand trade across Africa.

The agreement includes a R3.6 billion investment in a social bond and a $200 million Risk Participation Agreement (RPA) for Standard Bank of South Africa Limited (SBSA). This initiative strengthens Standard Bank’s lending capacity, ensuring greater access to finance for SMMEs, a critical driver of economic growth and job creation in South Africa.

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises

The social bond investment promotes inclusive economic development, particularly for SMMEs with a turnover below R300 million and loan sizes under R40 million. This financing will support up to 4,000 businesses, helping them scale operations, create jobs, and contribute to economic resilience.

Kenny Fihla, Deputy Chief Executive Officer of Standard Bank Group and Chief Executive Officer of SBSA, welcomed the investment, stating: “This landmark partnership strengthens our ability to support SMMEs, the backbone of South Africa’s economy. With approximately 3.2 million SMMEs accounting for 60% of jobs, ensuring access to finance is crucial. This initiative aligns with our Sustainable Finance Framework and our commitment to financial inclusion.”

In addition to the social bond, the $200 million RPA enhances trade finance across Africa, focusing on Low-Income Countries and Transition States. This agreement enables local banks to increase lending by sharing risk, bridging the trade finance gap, and promoting intra-African trade.

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade

Leila Mokaddem, Director General for Southern Africa at the African Development Bank, highlighted the broader impact: “This collaboration marks a significant milestone in our long-standing partnership and is a testament to our shared commitment to supporting SMMEs’ growth and enhancing trade finance across Africa. Expanding financial inclusion and trade opportunities empowers businesses to drive economic transformation and regional integration. The Standard Bank Group remains a strategic partner in our shared vision for economic development on the continent.”

This initiative aligns with the African Development Bank’s Ten-Year Strategy (2024–2033), which prioritises industrialisation, regional integration, and improving the quality of life in Africa. It also supports Standard Bank’s Sustainable Finance Framework, reinforcing both institutions’ commitment to fostering green and inclusive growth.

“We are proud of this transaction, demonstrating our shared commitment to sustainable financing. By supporting businesses, we create long-term economic opportunities and financial resilience,” stated Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank.

Kenny Fihla reaffirmed the significance of the collaboration:

“By providing much-needed capital, we are helping enterprises overcome challenges and thrive. This partnership illustrates the power of collaboration in driving meaningful economic and social change in Africa.”

 

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The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

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The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB), has reinforced its position as a key player in the Islamic syndications market, achieving prominent rankings in the 2024 Bloomberg and Refinitiv League tables.

The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

For the fourth consecutive year, the ITFC top-tier performance reflects a strategic focus on delivering impactful trade finance solutions. For 2024, Refinitiv ranked ITFC as Globally # 1 Bookrunner and Mandated Lead Arranger (MLA) in their Islamic Syndications League table. Additionally, and Bloomberg also ranked ITFC among the top Bookrunners and MLA in the Islamic Syndications League table. These rankings are a testament to the ITFC ability to consistently deliver value-driven results and maintain a strong position among leading international and regional financial institutions.

The recognition from Refinitiv and Bloomberg confirms that ITFC is a key player in facilitating trade among OIC member countries. This not only reaffirms the ITFC status as the pre-eminent provider of trade solutions but also underscores its remarkable ability to draw investments from a wide spectrum of global investors and financial institutions.

Additionally, it emphasizes the positive impact on the lives and livelihood of people inherent in the ITFC business operating model, demonstrating its effectiveness in meeting the unique financial needs of OIC member countries.

The Refinitiv and Bloomberg League tables rank banks and financial institutions based on their performance in loan syndications, bonds, and mergers and acquisitions (M&A) transactions. The rankings, including arrangers, bookrunners, administrative agents, and advisors, are published quarterly and annually.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.
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Afreximbank and Kenyan government ink milestone agreements to promote industralisation

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Afreximbank and Kenyan government ink milestone agreements to promote industralisation

Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing

African Export-Import Bank (Afreximbank) (www.Afreximbank.com), Africa’s foremost trade development Bank, today in Mombasa, Kenya, ratified a series of initiatives designed to support Kenya’s industrialisation and export-led development agenda. Under the terms of the initiatives, formalised at a signing ceremony with the Kenyan authorities, Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing.

Afreximbank and Kenyan government ink milestone agreements to promote industralisation

Afreximbank and Kenyan government ink milestone agreements to promote industralisation

The proposed industrial parks, to be developed by Afreximbank through its affiliate company, Arise Integrated Industrial Platforms (Arise IIP), will create and sustain an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets.

Two projects to be undertaken by Afreximbank, with the support of the Government of Kenya and other strategic collaborators, are the development of the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II (Naivasha II), for which, having secured leases of the relevant land, Afreximbank intends to leverage the expertise and experience of Arise IIP, a special economic zone developer with experience in the development of integrated industrial parks in Africa.

Both the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II are included in the Fourth Medium Term Plan (2023-2027) of the Kenyan government’s Vision 2030, entitled “Bottom-Up Economic Transformation Agenda for Inclusive Growth”, reflecting the high priority which state institutions are giving to measures that strengthen, expand and accelerate Kenya’s capacity to export value-added goods within Africa and globally.

Speaking on the signing, the President of the Republic of Kenya, H.E. Dr. William S. Ruto said; “We have a responsibility to steer the country in the right direction, harnessing the immense potential of manufacturing, industrialization, agro-processing, and value addition within Special Economic Zones. The signing of these agreements today marks a significant milestone in Kenya’s development, expanding opportunities to enhance our manufacturing sector and create a more conducive environment for investment. We convene here today to sign an investment – and not a loan – undertaken by people whose faith in this country and its possibilities motivates their decision. This is our country, let’s continue to do whatever it takes to make it an attractive destination for those who want to invest.”

In his own comments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said:

“Africa has been heralded as a land of opportunity, blessed with resources that power the world. Yet, we have struggled to translate this wealth into lasting prosperity for our people. For decades, we have watched as others reap the rewards of our natural resources, leaving us tethered to a cycle of dependency—exchanging our riches for aid and loans that kept us on the fringes of the global breadbasket.

“Those days are behind us. Today, Kenya takes a bold step to reshape this story in a profound and impactful manner. These Parks are an integral part of the Government’s plan to boost the country’s economic growth under the Vision 2030 development blueprint.

Today’s signatures are more than ink on paper—they are a promise to the people of Kenya, a pledge that the country will rise as a beacon of industrial might and self-reliance.”

Mrs. Oluranti Doherty, Managing Director of Export Development at Afreximbank, and Captain William K. Ruto, Managing Director of the Kenya Ports Authority, signed the Dongo Kundu Special Economic Zone agreement. Dr. Kenneth Chelule, Chief Executive Officer of the Special Economic Zones Authority, and Mrs. Doherty signed the Naivasha Special Economic Zone agreement, with H.E. Dr. William Ruto, President of the Republic of Kenya, and Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, witnessing the signing of both agreements for the State and for the Bank, respectively.

The Dongo Kundu Industrial Park within the Mombasa SEZ is expected, upon completion, to boost the area with a state-of-the-art industrial park that will contribute significantly to economic growth and industrialisation efforts in Mombasa County and in Kenya as a whole.

The Naivasha II Special Economic Zone – Naivasha II project is located at Mai Mahiu and will include a free trade zone, an industrial park, a logistics zone and a public utility area with a supporting road network. The project will occupy an area of approximately 5000 acres.

The Naivasha II project will also derive value from its strategic geographic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System, which comprises both a standard gauge railway and a major highway. Moreover, the SEZ will be close to the Naivasha Inland Container Depot, which serves the East African hinterland countries of Burundi, the Democratic Republic of Congo, Kenya, Rwanda, South Sudan and Uganda.

Other dignitaries in attendance included Mrs Oluranti Doherty, Managing Director, Export Development, Afreximbank; Hon. Davis Chirchir E.G.H, Roads and Transport Cabinet Secretary; Hon. Hassan Ali Joho, Cabinet Secretary for Mining, Blue Economy and Maritime Affairs; Hon. Salim Mvurya, Cabinet Secretary for Youth Affairs, Creative Economy and Sports of Kenya and Honourable Lee Kinyanjui, Cabinet Secretary, Ministry of Investment, Trade and Industry. Additionally, Captain William K. Ruto, Managing Director, Kenya Ports Authority; Dr. Kenneth Chelule, Chief Executive Officer, Special Economic Zones Authority; His Excellency Abdulswamad Shariff Nassir, Governor of Mombasa County; the Honourable Benjamin Tayari, Chairman, Kenya Ports Authority, and Mr. Fredrick Muteti, EBS, Chairperson, Special Economic Zones Authority attended the event.

Distributed by APO Group on behalf of Afreximbank.
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industralisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
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