23 C
Friday, August 14, 2020

Robert Ochieng: Why I save through unit trust money market account

Must Read

Susan Waniru: How I used bank loans to build my wealth

Susan Wanjiru Mburu is a businesswoman/manufacturer: “Borrowing money and quick loans in Kenya has been a blessing in disguise...

Ndindi Nyoro: Why people in business, employment say ‘hakuna pesa’

Today is one of the many times when we complain that "hakuna pesa". But really, what is money? How...

I was fired from my job, now I’m thriving in business

Natural Organics in Kenya: "My name is Mkamboi Mwakale. I am the founder and CEO of Saru Organics, a...

Robert Ochieng is an IT Professional, a Financial Markets analyst, and the community leader of the Young Nairobi Stock Exchange Group.

Biggest milestone: This happened when I went to look for an internship position at Software Technologies Limited at Gigiri when I started out my career. The implementation Manager, Peter Kitheka challenged. He said, “You have come to look for internship in a technology firm that deals with Oracle software but you have no skills in the technology”. He said that he would not give me internship but he would teach me the skills. I didn’t have a laptop by then so I carried my computer and went back to their offices the next day. He installed for me the software and helped me get started. I gained a lot of skills in the technology. I have trained Central of Bank of Kenya and Uganda Revenue Authority staff on Oracle budgeting systems since then. I was also part of the technical team that implemented the current budgeting system at the National Treasury. Kitheka’s act of kindness was the miracle that changed my life.

Banks to pay Sh. 2 million fine for every CRB-listed Kenyan they deny loan

The key to success: Set out to give value and brighten the world. Champions always have energy and momentum. Keep aside part of your earnings. In Kenya we have an obsession of holding hard and liquid assets. Sometimes, people work so hard to save hundreds of thousands or millions only to lose it all in a scam or an investment that they don’t understand. It is called being penny rich but pound foolish. We can avoid it by investing in learning.

Biggest money mistake: Failing to take advantage of my skills in ICT to invest in listed technology companies in the US early enough. Technology is changing the world and there is no doubt that these companies have been growing and will continue to grow. You can be a consumer and an investor at the same time.

Biggest career loss: This was focusing too much on technical skills. I did an MBA and started looking at commercial aspects of businesses and how to add value.

If I could turn back the clock: If I could start all over, I would look at soft and technical skills like financial planning, mindfulness and focused networking.

My saving method: I put aside a percentage of my income into a unit trust money market account religiously because I get returns above the inflation rate. This helps me build capital to use in other investment opportunities with high risk and high returns including offshore stocks such as Amazon. Previously, I saved to buy land.

Robert Ochieng parting shot: Success to me means being a devoted husband and helping our children grow to become confident adults. In business, the biggest opportunity is in engagement and being available for customers.

This story was first published in the Saturday Magazine. Saturday Magazine is a product of Nation Media Group. More info email:
[email protected]
Copyright @Nationmediagroup

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Latest News

Equity Partners With Merchants To Push Contactless Payments

Equity Cards Discounts Customers get a 10% discount on purchases at Dignity collection on Equity cards. Equity...

Ann Gachugu: I left my banking job in Australia to farm in Kenya

“I had a banking in Australia before I quit my job to return home to become a mushroom farmer. After high school, I moved...

More Articles Like This