Capital has rules
In entrepreneurship, one needs to be responsible when working with money to avoid the risks of losing it.
NDAMA NAKASHOLE
First Lady Monica Geingos said it is easier to make money, than to keep it.
So for one to be able to keep money, they have to understand the rules of money.
Speaking at official book launch of “Successful Entrepreneurship” by Twapewa Kadhikwa and the unveiling of Olafika SME Development and Mentorship programme on Thursday, Geingos also empahsised on the dangers of making quick money in the disguise of real entrepreneurship.
“When you make quick money, you don’t understand the rules to keep it,” she said.
Geingos, a successful entrepreneur herself, said that whether a person stole diamonds, they sold drugs or rhino horns, or they got the money through corrupt activities, the fact that it is “quick money”, brings a lot of risks of losing it and have nothing.
“I never want to make quick money, she said, adding that when she makes her money, she wants to make it in such a way that nobody can take it away from her in a month.
Geingos added that money earned undeservingly also brings unhappiness to the person’s life.
“Anything not honest brings you bad luck,” he said, adding that a journey like that of Kadhikwa is an important one.
“Whatever you have, you must be able to justify it,” Geingos added.
According to the First Lady, if one can go to her bank statement now from 2007 and ask her for documentation of every cent that went in there, she will have documents for it.
“I do it because I know how life is. I know how things and people change. And I know that one day when there are questions, I will be able to answer,” she said.
Money and friends
Geingos added that when one has money especially the entrepreneurs, they still remain human beings who have relatives and friends and family. At times, those people will come and ask for money from them. She urged that when one gives out money, they do so in a responsible way that teaches the person seeking for money, the rules of money.
“Sometimes the other friend will say, ‘its’ my birthday please my dear I need N$100’,” she said adding that when she became First Lady, the N$1000 became N$ 10 000.
In managing friends and family, Geingos said she asks for documentation.
“Where is your payslip, who else do you owe, you should pay back with interest,” she said.
“People around you also need to understand the value of money. N$3000 in 2015 is not N$3000 in 2018.” she said.
She also said that people need to understand that the world owes them nothing.
“That rich uncle of yours owes you nothing,” she said.
She also said that when one loses money, they lose something invaluable which is confidence.
She urged people such as if one gets an inheritance to scrutinise their business plan to avoid the risk of losing money. She said in some cases, getting inheritance does not equal to someone being ready for business.
She however urged entrepreneurs who fail at it to never give up when they fall.
“I am more likely to fund somebody who has failed and is trying again,” she said.
Polishing entrepreneurs
During the same event, Namibia Diamond Trading Company (NDTC) announced an investment of N$ 700 000 towards the Olafika SME Development Mentorship Programme
“The Olafika SME Development Mentorship Programme is a promising program that seeks to take Namibia entrepreneurs from across Namibia’s 14 regions on a journey from rough to the polished gems we believe they can be,” the company said on Thursday.
As a Namibian company with a global reach, NDTC said that being a responsible corporate citizen is an important part of their ethos.
“SME development is clearly a national development priority area, and it is for this reason that NDTC has partnered with Olafika,” the company’s chief executive Shihaleni Ndjaba said.
The programme will benefit over 70 SMEs throughout all 14 regions of Namibia.
“I believe this intervention will not only sharpen the entrepreneurs who will go through the programme, but in turn it is my hope that this will offset increase job creation in the SME sector as well, “The time is now (Olafika) for building a diamond generation,” said Ndjaba.
First Lady Monica Geingos said it is easier to make money, than to keep it.
So for one to be able to keep money, they have to understand the rules of money.
Speaking at official book launch of “Successful Entrepreneurship” by Twapewa Kadhikwa and the unveiling of Olafika SME Development and Mentorship programme on Thursday, Geingos also empahsised on the dangers of making quick money in the disguise of real entrepreneurship.
“When you make quick money, you don’t understand the rules to keep it,” she said.
Geingos, a successful entrepreneur herself, said that whether a person stole diamonds, they sold drugs or rhino horns, or they got the money through corrupt activities, the fact that it is “quick money”, brings a lot of risks of losing it and have nothing.
“I never want to make quick money, she said, adding that when she makes her money, she wants to make it in such a way that nobody can take it away from her in a month.
Geingos added that money earned undeservingly also brings unhappiness to the person’s life.
“Anything not honest brings you bad luck,” he said, adding that a journey like that of Kadhikwa is an important one.
“Whatever you have, you must be able to justify it,” Geingos added.
According to the First Lady, if one can go to her bank statement now from 2007 and ask her for documentation of every cent that went in there, she will have documents for it.
“I do it because I know how life is. I know how things and people change. And I know that one day when there are questions, I will be able to answer,” she said.
Money and friends
Geingos added that when one has money especially the entrepreneurs, they still remain human beings who have relatives and friends and family. At times, those people will come and ask for money from them. She urged that when one gives out money, they do so in a responsible way that teaches the person seeking for money, the rules of money.
“Sometimes the other friend will say, ‘its’ my birthday please my dear I need N$100’,” she said adding that when she became First Lady, the N$1000 became N$ 10 000.
In managing friends and family, Geingos said she asks for documentation.
“Where is your payslip, who else do you owe, you should pay back with interest,” she said.
“People around you also need to understand the value of money. N$3000 in 2015 is not N$3000 in 2018.” she said.
She also said that people need to understand that the world owes them nothing.
“That rich uncle of yours owes you nothing,” she said.
She also said that when one loses money, they lose something invaluable which is confidence.
She urged people such as if one gets an inheritance to scrutinise their business plan to avoid the risk of losing money. She said in some cases, getting inheritance does not equal to someone being ready for business.
She however urged entrepreneurs who fail at it to never give up when they fall.
“I am more likely to fund somebody who has failed and is trying again,” she said.
Polishing entrepreneurs
During the same event, Namibia Diamond Trading Company (NDTC) announced an investment of N$ 700 000 towards the Olafika SME Development Mentorship Programme
“The Olafika SME Development Mentorship Programme is a promising program that seeks to take Namibia entrepreneurs from across Namibia’s 14 regions on a journey from rough to the polished gems we believe they can be,” the company said on Thursday.
As a Namibian company with a global reach, NDTC said that being a responsible corporate citizen is an important part of their ethos.
“SME development is clearly a national development priority area, and it is for this reason that NDTC has partnered with Olafika,” the company’s chief executive Shihaleni Ndjaba said.
The programme will benefit over 70 SMEs throughout all 14 regions of Namibia.
“I believe this intervention will not only sharpen the entrepreneurs who will go through the programme, but in turn it is my hope that this will offset increase job creation in the SME sector as well, “The time is now (Olafika) for building a diamond generation,” said Ndjaba.
Kommentaar
Republikein
Geen kommentaar is op hierdie artikel gelaat nie