MICRO FINANCE unknown to many is the sole panacea to mass poverty eradication in human society.The blog specifically focuses on the industry around the world but with more bias on Africa-unarguably the poorest region of the world.
April 26, 2019
THE BENEFITS OF MONEY MARKET.PART 3
The deposit funds with the banks are mobilised cheap, compared to bank lending rate of about 20 to 21percent.Whereas,investment in money market funds hover around 15percent.Hence,it guarrantees returns against the inflation rate. Note also,it has a compounding effect on interest where every interest income acrued to principal initial deposit.It grows faster than simple interest fund and also depends on the size of your initial deposit including monthly compounding frequency.However,to start investing you can pool between 5,000naira and 10,000naira respectively.Although different managers require different start up deposits.Parents too can begin to save for the future of their children,with plans for the 16years saving gaps.This benefits from the compounding effects and monthly multiplier frequency on the initial deposits.They need not worry about their future once they implement this plan.The investment can be quickly converted to cash at short notice.People can set up dedicated fund for project finance.
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The money market instruments enjoy interest rate as high as 18percent.This shows that there has never been time to invest in the market than now.
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