Trends: Nelisiwe Masango

Nelisiwe Masango,

Financial Markets

Analyst, CEO of

Ubuntu Invest, and one of

Entrepreneur magazine ’ s

Top 50 Black African Women Entrepreneurs to Watch, believes that the entrepreneurial spirit can overcome financial hardship, given a touch of resourcefulness and determination.

UNLOCKING OPPORTUNITIES FOR WEALTH CREATION

The challenges of the past year have changed how we live and work in ways that will alter our behaviour long after the Covid-19 pandemic subsides. However, there is an upside. “New technology and the novel digitally savvy mindset that has emerged has created new opportunities for wealth creation and even opened people’s eyes to older ones that may have existed in the background for quite a while, ” said Nelisiwe Masango.

GLOBAL MARKETS ARE ACCESSIBLE

According to Nelisiwe, there has been a significant rise in retail investors –individuals who manage their own funds –in the last year. She explained, “With recent technological developments, financial markets are now more accessible than ever before. In fact, the market volume of overthe-counter trades has increased from 10% in 2004 to 47% in 2020. ”

She believes that even where there is limited start-up capital, fresh selfemployment and independent income generation potential exists. “In forex and commodities trading, for example, and here I speak from personal experience, anyone can open a trading account starting from as little as $30 (R500). ” This provides global access to markets without socio-economic restrictions or limitations. “Alternatively, an affiliate programme allows you to partner with a trading firm to generate income, both from trading and referrals. This can all be done remotely and on any connected smart device or computer. ”

EDUCATE YOURSELF ABOUT TRADING

If you’re thinking about starting out in trading but have no idea what it entails, start educating yourself. “Research reputable trading companies with a proven track record. Look at reviews and make sure you don’t get caught off-guard. Then, you can start by downloading an app on the Google Play Store or iOS App Store and open an account free of charge. ”

For compliance and regulation purposes, you will need to upload your Financial Intelligence Centre Act (FICA) documents, which includes an ID or passport and proof of residence not older than three months. “A trading specialist should then be in touch to hold your hand through the entire learning process so you can understand what trading is, how to navigate the platforms, and how to access important resources, ” she added.

KEEP OVERHEAD COSTS LOW

Setting up an essential self-employment or business toolkit in our current circumstances is easier than it was and more affordable. The past year has forced everyone to adapt to the digital transformation that is currently taking place. Previously, what would cost well over R50 000 in initial capital fees – such as a small office, printer, desktop, internet contract – now costs considerably less by virtue of the new motto, “I’m working remotely ” . Nowadays, all you need is data, a mobile device with a browser, and social media to kickstart your entrepreneurial journey.

“One of the greatest lessons I’ ve learnt in business is not to increase overhead costs unnecessarily. It’s vital that we remember not all business models are the same, so we should never compare our business to the next. There is no shame in starting small, ” Nelisiwe continued.

ALWAYS PROTECT YOURSELF

“Ultimately, whether you are investing in a business or starting out as a trader – although I would not dare to give direct advice – try to keep a few risk management strategies in mind. I would strongly suggest you avoid taking unnecessary financial risks at all, ” she shared.

Nelisiwe said that the current economic climate isn’t ideal, so what could’ ve worked out pre-pandemic might now take much longer. “Overextending yourself will almost certainly lead to more problems down the line. Whether you’re dealing with a business or placing a trade, try to eliminate risk by not investing money that’s not considered disposable income. Always protect yourself.

“The best you can do for yourself is to eliminate procrastination and doubt, and if not now, then when? If not you, then who? No matter your circumstances and resources, there is an opportunity somewhere. And you can access it if you just use what you have. Most of all, try not to lose hope. ” A