Politicians antics for votes

Use SACCO to Grow Your Wealth.

 

1.       Joining a SACCOs

Choose a SACCO that does the basics saving and lending and low investments

Join with people you know and can trust like colleagues, family members, or friends

Preferably choose the employees SACCOs if for a church, choose from mainstream churches

Check the age of the SACCO existence more than 10yrs old is good

Most government agencies have nice SACCOs, if employed by the government or your relative is a public servant can introduce you.

Avoid newly registered SACCOs and are heavily advertised

Be wary of SACCOs that are aggressively in land business.

 

2.       Saving regularly and borrowing wisely

The best time to start is immediately in your first employment and commit about 10%

Instill deduction from the source like in pay slip, if not employed issue a standing order from your bank account.

Start saving small like Ksh. 1,000pm and grow monthly saving progressively. For example, when you get a salary increment, increase the saving with a similar margin  

When borrowing, borrow the amount you can pay monthly without affecting your monthly contribution. Don’t reduce monthly savings to cover for loan deductions

3.       Growing wealth in the SACCO

Reinvest dividends and interest earned back to SACCO to boost saving and compound your investment. Don’t take the dividends and say is time to celebrate.

Example: if you save Ksh. 3,000pm and earn 10% interest for saving

year	saving per month	saving in a year	interest 10%	total saving
1	3,000.00	36,000.00	3,600.00	39,600.00
2	3,000.00	75,600.00	7,560.00	83,160.00
3	3,000.00	119,160.00	11,916.00	131,076.00

 

 

 

 

Table 1 Monthly saving for 3 years without withdrawing dividends

 

 

With 3,000pm, the wealth will grow to Ksh. 131,076 if you reinvest the dividends “Money has started working for you”

4.       securing your wealth in the SACCO.

·         Don’t overcommit your savings by guaranteeing for very many members

·         Don’t guarantee members you can’t lend your money because guaranteeing is like lending your saving

·         Always attend SACCO AGM, ask questions. Mostly you can tell if things are going well with officials’ answers.

·         Read SACCO financials and if it looks complex, carry a copy and request a friend or a family member who is an accountant to interpret for you. I have done this for many people without charging them.

 

5.       Final thoughts

A SACCO should be the first step in saving and investing, you can use the SACCO loans to grow your business before starting to borrow from Banks. Remember Banks are businesses that must grow shareholders funds but in SACCO, you are both a shareholder and a customer.

 

Thanks, and have a good Investing week.

 

Next week; how to spot a scam

ART OF FAILURE- Overconfidence

ART OF FAILURE

Overconfidence

Did DP Ruto become overconfident or he underestimated his boss?

Dp Ruto isn't the first politician to be frustrated by state, Raila has undergone it in three regimes, Governor Ali Hassan Joho and

     Governor Mwangi Wa Iria Faced in Uhuru first term. their tactics helped them to deal with it, but William looks clueless in dealing with it.

     Governor Wa Iria rattled the first family with his Milk policy in Muranga, fearing the policy might be replicated and other counties and hurt the milk business, state machinery was released to deal with him.

     It started with an anti-corruption case followed impeachment in Muranga County Assembly and in Senate. this was followed by a plan to stop him in the 2017 Muranga gubernatorial race. Wa Iria faced it in the senate and at EACC and won on the ballot in 2017 beating our Friend Jamlek Kamau AKA Kabisa Kabisa in the race.

      Just after the 2017 elections, he turned to the next phase of his politics by creating his own party and started popularizing it. this

shows a politician with tactics and plan to face his distracters and progress with his journey.

       Governor Joho faced the same threats from the Jubilee government and president Kenyatta rebuked him openly. Joho had to face threat of their Family business and his political life. He won the second term as Governor of Mombasa and their businesses got their way with space in Nairobi Embakasi Terminal and Naivasha SGR port

Raila Knew when to change tactics after swearing himself as People's president embraced dialogues and Handshake with the president.

   today DP Ruto is facing similar obstacles in politics and business he can decide to learn from simple lessons, change tactics, and achieve his ambition. Alternatively, he can continue with his style of politics and observe his political plans shredded and businesses destroyed like Ken Matiba. And sadly, he ends up back at Hague.

SONKO: A POLITICAL SUICIDE OR COLLATERAL DAMAGE

Sonko committed political suicide by refusing to wash hands and dine with kings if he learns he will come back strong and wiser. If he refuses to learn, his political star may struggle to brighten. Successful politicians learn fast and adapt to the continuous change in the political environment and players.

To maintain competitiveness in city politics, Jubilee strategists didn’t see the right block him in city gubernatorial seat even if they knew he will struggle to manage city hall. They toyed with the idea of bringing in a better candidate like Peter Kenneth and allow Sonko to remain in city politics as a senator. Sonko played it hard and the idea was shelved. Due to his popularity and need to get his vote block in Jubilee against ODM, Jubilee gave in and allowed him to run on Jubilee. Remember jubilee kicked out Thuo Mthenge of Brade Gate poultry farm in Nyeri gubernatorial race for lesser crimes.

Jubilee picked and washed him. He started wearing suits and a professional Polycarp Igathe was brought in as his deputy. Remember the story Polycarp will be in the office managing the city while Sonko plays politics outside, the plan went on and won the governorship.

the washed man returns to the mad, disagreement with his deputy and continuous chaos among is CECs and chief officers. Sonko created two parallel governments one the official city structures to please kings and his real government which is running the county and is feared. he restructured his Sonko Rescue team doing work in direct competition with Nairobi county services. In case of disaster, you can see the official county firefighters and ambulances alongside others branded “SONKO RESCUE TEAM” 

After chaotic 2007 general elections, Reuben Ndolo petitioned the court over the election of narc MP Dick Wathika, A by-election was ordered by the court in 2010. At first, Sonko was to run on ODM, that channel was blocked as ODM preferred their man former boxer Reuben Ndolo of “ukiona wao, weka tyres” fame. sensing he will not get to PNU he rushed to Martha Karua NARC Kenya. He won the seat and started his city politics with drama and theatrics’.  He could demonstrate with city Matatu drivers and conductors, punch walls, lie on the floor

Sonko's small missteps started after the departure of his deputy and his refusal to appoint a deputy continued to anger his kings. He lost the plot of 48 rules of power. Keep your enemies closer, we know deputy governor has no influence in county politics he would have brought a “professional from the king's circle” and continue with his politics. His kings were patient with him and could test him to see if he gets the plot, but he gave them the middle finger.

Sonko was too close to the power that he used to joke he is the third in command from the president and his deputy in jubilee politics.  He could even call the president and put him on loudspeaker in front of his jubilant supporters, he could emerge in state functions and sit strategically near the president and his deputy. He could join Deputy president to see him off or welcome him at the airport.

Sonko is very good at mobilizing city “hustlers” and his gang like style endear him to his supporters but despite your success in politics never fly too close to the sun. the power may forgive him and welcome him back after he has learned his lesson. As in politics, a politician of his caliber is better peeing from inside to outside than him being out there peeing inside.