Mumo Mutisya is the Head of the Strategy and Commercial Division at the Central Depository and Settlement Corporation Limited (CDSC).
The CDSC is a Private Limited Company licensed and regulated by the Capital Markets Authority (CMA). The company commenced operations in 2004 and is owned by institutional shareholders. You could say the CDSC is a private company doing a public duty. It exists to ensure that any investor who wishes to access the Kenyan Capital market can do so in a secure, transparent, and efficient manner.
We currently serve about 1.6 million investors and are responsible for the safe custody of over Sh. 2 trillion worth of assets every day of the year – including weekends.
How you can easily prevent or cope with high blood pressure
The CDSC also ensures that buyers and sellers of shares get their dues by executing the allocation of securities and settlement of cash for trades done at the Nairobi Securities Exchange.
One of the things I regret financially is not starting my stocks (shares) investment journey post-high school. Considering that one can start with as little as Sh. 200, I am certain I would have built a sizeable portfolio had I started much earlier.
Looking back, the lesson for me has been embracing humble beginnings and the power of consistent action as far as growth is concerned.
Financial literacy is seriously underrated. This is something I would have pursued aggressively from a very young age. In my ideal world, 8 to 12-year-old children should be able to define and understand the context of basic terms such as budgeting, saving, investing.
My go-to for savings is the Money Market Funds. We have several good funds that are regulated by the Capital Markets Authority that an aspiring investor can select.
The returns are much better than keeping money in the bank particularly due to better interest rates that most Money Market Funds offer.
So far, it is going well compared to when I used to keep my money in the banks. That said, I still keep some cash in a bank account for urgent emergencies.
Entrepreneurs keep the world moving by finding and monetizing solutions to everyday problems. It is the harder path full of endless challenges and risks but the rewards are great when one perseveres. I admire entrepreneurs. That said, it is not for everyone and there is no crime in being employed and transitioning to entrepreneurship with time.
Even in employment, I believe channeling an entrepreneur’s mindset is critical for success. And should you decide to transition, your experiences within employment will go a long way in facilitating a smoother running of your own enterprise.
Generational wealth is one area that Africa could and should do better. Right from the family to national leadership, exponential transformation occurs when the current generation sets a road map and accumulates resources as responsible stewards to pass the same on to subsequent generations.
A lot of time, energy, and lessons are lost when each generation is forced to start over and go through the same struggles that previous generations should have overcome.
A version of this profile feature on Mumo Mutisya was also published in the Saturday Magazine. The Saturday Magazine is a publication of the Nation Media Group.
Did you love the story? You can also share YOUR story and get it published on Bizna Click here to get started.