Business News of Tuesday, 24 January 2017
Members of the public need to realise the importance of investing as a way to financial freedom even if one is unemployed, Rev Daniel Ogbarmey Tetteh, Executive Director of Databank Asset Management, has said.
He emphasised the need to be disciplined and committed in order to put by a portion of one’s income and invest a fraction of every amount one receives no matter how little.
“Once money is passing through your hands, set some aside for investment,” Rev Tetteh told Moro Awudu on Class FM’s Executive Breakfast Show on Tuesday, January 24.
He explained that with various investment portfolios tailored to the needs and expectations of clients, Databank can help individuals to choose an investment package that best suits them.
Among the packages are Epack, MFUND, EdIFUND, BFund and ArkFund. Having been in operation for over 20 years, Databank also engages highly skilled and experienced fund managers who operate based on research and time-tested modules.
Illustrating how effective investments can be, Rev Tetteh recalled when a student in one of the country’s tertiary institutions contacted him to invest some money he refused to spend on a ghetto blaster and other expenditures like other students.
Over time, the yield on the investment was rewarding, as the student who had graduated used a portion for his marriage and started a building project with the rest of the funds.
Rev Tetteh pointed out that one need not be gainfully employed to start investing.
Commenting on the unemployment situation in the country, he advised students and unemployed individuals to “develop your capacity through internships”.
He disclosed that Databank creates opportunities to help coach talented and intelligent individuals.
To this end, Rev Tetteh added that job seekers needed to identify challenges being encountered by firms and provide solutions. If an individual could also suggest how to make existing structures and systems better, it could be very rewarding as well.
“Typically, people will pay for solutions… Work is about providing solutions. So my belief is that for people who do not have work to do, they can look around and solve some problems around. We need to bring the youth to the point where they can identify problems and provide solutions,” he added.