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5 Reasons To Invest in Money Market Fund While Young

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At several points in a young individual’s life there can be times you have money you don’t know what to do with. In many situations, the money ends up spent rather than invested. Rather than go on a spending spree anytime you have with “free cash”, it would be wiser to look at easy ways to get guaranteed returns on investing the money.  One way of investing is money market fund.
 
 
In Nigeria, a typical money market fund gives an individual exposure to several highly liquid, low-risk investment. Examples include treasury bills, bonds, commercial papers,repurchase agreements and Certificate of Deposits.
 
Here are 5 reasons to invest in Money Market Funds:
 
  • You run very little risk of losing your money in securities like bonds and treasury bills. As they are issued by the Federal Government, your money is safe
  • Your investment is very liquid. This means you can convert it to cash on short notice with any accrued profits for that period. For certificates of deposit, you can cash out anytime you need to, however, you may incur penalties
  • The investment return arrangement of money market funds makes for an attractive investment. The earn rate of money market fund is higher than inflation rate by design and is better than a savings account
  • Investments in money market fund is possible with little amounts of money. Minimum investment amount varies per mutual fund manager chosen
  • Investing in money market fund is an easy and convenient way to start to learn about investments and financial literacy
 
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Carbon $100,000 Pan-African Fund for African Innovators

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Carbon, a Nigerian fintech company has launched a new $100,000 Pan-African fund targeted at insurance, health and education tech startups on the continent.

The Carbon Disrupt fund aims to address funding and support inadequacies affecting tech entrepreneurs on the continent. The fund will be investing up to $10,000 in each of the selected startups in return for 5% equity.

Carbon, through the Disrupt Fund,  hopes to make it easier for entrepreneurs across in other sectors to access the funds and support they need to establish their solutions and achieve their business objectives.

For this reason the fund will be focused on health technology, education technology and insurance technology startups.

Apply here

For further information, visit Carbon Disrupt Fund website

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2020 Anzisha Prize Applications

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If you are a young African Entrepreneur trying to grow a small business or you’ve created something that makes your community better and provides you and your friends an income, then we want your application.

Your venture could be anything. Become a role model and inspire other young entrepreneurs to believe in the difference you can make in Africa, with the right support.

Africa’s future lies in your hands and we want to celebrate your potential to grow your country’s economy and create jobs. Each year, we select 20 leading youth entrepreneurs like you to become Anzisha Prize Fellows.

Eligibility Requirements
  1. You must be between 15 and 22 years old with an ID document or Passport to present as evidence. Anyone born before November 1, 1997 or after October 31, 2005, will not be considered.
  2. You must be a national of an African country with a business based in Africa for African customers/beneficiaries.
  3. The Anzisha Prize isn’t awarded for great ideas or business plans – you must have already started, and be able to prove it! Get started now and ensure you have tangible results to share before applications open.
  4. Your business, invention or social project can be in any field or industry (science and technology, civil society, arts and culture, sports, etc.). Any kind of venture is welcome to apply.
  5. Individuals who apply must be one of the founding members of a business (for example, 2 or 3 co-founders who started up the project together).
Judging Criteria

To be selected as one of our Anzisha ventures, your business or project will be judged on the following 5 criteria:

  • Is your venture established with customers and beneficiaries and are you offering value to them?
  • Are you, the founder, leading and managing your venture?
  • Is your venture demonstrating some impact already?
  • Whether your venture is a for-profit business or cause-based, does it already earn revenues or already reach beneficiaries? Is there potential to increase revenues or beneficiary reach with support from Anzisha?
  • Has your venture created some jobs and is there potential to create more high quality jobs?

To be selected as one of our Anzisha Fellows, you must demonstrate two important qualities:

  1. You are the leader of your venture and you drive both venture strategy and operations.
  2. You spend at least 20 hours a week (or more) on your business and plan to continue to do so after selection.
Anzisha Prizes
  1. Monetary Reward of a shared amount of $100,000
  2. $2,000 access to a world- renowned Entrepreneurial Leadership curriculum and training with the potential for further investment based on engagement and performance
  3. $2,500 worth of rewards from consulting and mentorship services
  4. $2,000 worth of rewards from Global speaking events or Experts in Residence support
  5. $1,000 worth of rewards from Regional Indabas across the continent

Application Deadline: April 1, 2020

For further information, visit the Anzisha Prize website 

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