Poised to equip youths with financial education and credible investment opportunities as a way of reducing poverty in Africa, The Green Investment Club (TGIC) in Lagos unveiled a three-year report on investment.
With the theme: “The Money Moves by Today’s Young Nigerian”, the event was attended by corporate investment partners, members of the club’s advisory board, finance enthusiasts and members of TGIC. TGIC founder and CEO, the Vestract Company, Tomie Balogun, said thet theme is focused on showcasing shifting priorities for the young Nigerians based on the current economic climate and to showcase how the members of TGIC have evolved as investors in this period; from simply saving, to baby steps in investing to building diversified portfolios that include investing in the stock market, Eurobonds, VC funds, real estate in Nigeria, USA and more. “We also want to prove that young people can invest responsibly and not only in Ponzi schemes. They can invest responsibly in a way that helps small businesses grow and supports economic growth if they are financially educated. Our mission as an investment community is to provide financial education within the community and support them with practical tools to get the financial results they need.” She said.
Balogun said the club has rallied thousands of young investors to invest over N6.4 billion in multiple subsidiaries such as transport and logistics, agriculture, interior design, digital marketing, health and wellness, food production among other industries.
“Our target audience is the Nigerian youths who are trying to figure out how to save, budget, and invest in a constantly changing economic environment. They want to achieve financial security and tick off things on their bucket lists; however, investment institutions due to the size of income typically exclude them. They want financial security but have no clue how to achieve this,” she said.
With over 1,700 members across 26 countries Balogun said the initiative is also looking to start clubs across 10 universities in 2021, beginning with a pilot scheme in Covenant University, adding that the club is also working towards the launch of financial games to help the youths learn to earn, save, and eventually become successful investors.
“Money is a tool, not just about accumulating it in a bank but about using it to make the right decisions. Our report also shares a story. I started off blogging; investing in treasury bills and the stock market. I just wanted to learn,” she said.
Co-founder of Farm Forte, Osazuwa Osayi said TGIC is one of their key investment partners that have helped mobilise capital for different strategic agricultural projects. “I’ll urge young Nigerians to be bold, take the risk, and invest in the agriculture space. It has proven to be effective in reducing the poverty rate more than any other sector in Africa,” he said.
Peter Atuma of Princeps Holdings called for increased communication between the government and the private sector to aid the growth of startups and existing brands.