Connect with us

Business Home

Millennial and Gen Z unattainable retirement dreams – Side Hustle gig, the way ahead



Every young Nigerian before age 30 should try as much as possible to work at least 2 jobs. After 30, commit to one you can build a lasting next decade of career with then automate the second to get extra income. You won’t die, working 2 jobs wont make you less but you will earn.

Let’s start with why you need it?

At Fundall @get_fundall, we recently built a retirement calculator that helps both Entrepreneurs and 9-5ers calculate how much they will need when they retire. We invited several people from the 2 groups to use the tool.

After several tests, we discovered that none will be able to meet up the amount they will need to live at their current monthly expenses if we take into consideration an average annual naira depreciation of <=4 and an inflation rate of <10%.

To achieve retirement you need to either start saving young (in your 20’s or 30’s) and save at least 10% of your income each year, or if you start saving late (in your 40’s and 50’s), you’ll have to save a large portion of your income, as much as 50% a year.

Also Read Black Space App CEO, April Jefferson on entrepreneurship and connecting black travelers to their culture

Lets use this scenario;

You’re 25 and want to retire at 50, your monthly expenses is 50,000 and you don’t have anything in Retirement. Your future yearly spending will be 1,599,502 naira when you retire.

To survive your retirement, you have to have saved up 79,975,090 naira before you retire (at an assumption that you will stay at your current monthly expenditure and would live till 100).

You need to save at least 60,275 in a retirement account that will yield at least 10% annual returns. The question is, how many people that spend 50,000 monthly can afford to set aside 60,275 naira monthly?

The best bet for many is to get a side hustle or another job so they can earn more and have enough for the days they will retire. Retiring is when you stop working actively and you start earning passively. To some, it can be 40, 50 or you can choose to retire at 65 years.

I will advise that all young people start thinking about retirement, do not over splurge! Ours is the show-off generation, everything around us says “buy”. You need to discipline yourself. Read this article

At Fundall, one of our biggest vision is to help young Africans earn more so they can live sustainable lifestyles. Hence, the need to develop tools that can enable everyone build wealth and grow business.

At Fundall, we’ve built tools that can help you save and invest, get personal and business loans, a peer to peer marketplace that you can sell and earn and business tools to automate your business finances.

Sign up via  We will be live very very soon!


Credit: Taiwo Obasan


Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business Home

Why African Diasporas Must take Leadership of Equity, Diversity and Inclusion in Business to Achieve Meaningful Impact




SSCG Consulting hosted One Africa Network Diversity and Inclusion in Business Forum on Friday 29 November 2019 in Birmingham, UK, held under the theme of “Breaking down barriers to boost resilience and success “. The event was attended by notable speakers, diverse professionals, business leaders, entrepreneurs and academia across the Midlands.

Panel speakers included Eugene Nizeyimana, CEO, SSCG Consulting, Chair, One Africa Network; Fajli Bibi MA, Chair of West Midlands Combined Authority (WMCA) Inclusive Leadership Group; Prof Kiran Trehan, Professor of Leadership and Enterprise Development, Director of the Centre for Women’s Enterprise, Leadership, Economy & Diversity (WE LEAD), University of Birmingham; Jacynth Ivey, Non-executive directors (NED), Birmingham Community Healthcare NHS Foundation, Associate NED, Health Education England, NED, West Midlands Ambulance Service NHS Trust and Founder of Inspiring Hope and Jacynth Ivey; Dr. Rochelle A. Haynes, Senior HRM Consultant, Performance Works International, Senior Lecturer, UWE Bristol; and Mayokun – Mac Alonge, Founder and CEO, The Equal Group – A data-driven, equality, diversity and inclusion tech company, who shared their career experiences working in diverse organisations and leadership levels.

The discussions and topical issues addressed include: Demystifying Diversity and Inclusion (D&I), creating inclusive businesses that harnesses inclusive leadership at the front, closing ethnic minority pay gap disparities, bridging the opportunity gaps in recruitment and career growth, harnessing diverse workplace culture that foster and leverage best thinking and ability, challenging stereotypes, un/conscious and implicit bias to shape everyday right decisions, intercultural communication, using Big Data and analytics to make a difference, deliver impactful actions and reporting; and achieving superior performance and profitability through diversity.

The speakers highlighted and emphasised the importance of why Africans in the diaspora and minorities leaders in the UK should be disruptive and take leadership charge to create a future they want to see, the adaption to create inclusive and diverse environment that deliver meaningful impact. Brings new perspectives and encourage broader decisions in every place and help businesses to customise their own approaches in creating value through improving diversity and fostering an inclusive culture.

They must take actions to help businesses and organisations transform how they select and develop people in workplaces, develop inclusive leadership capabilities that understand the new trends of a diverse World (markets, customers, ideas, and talent), empower individuals, effective in cross-cultural interactions as well as create and leverage the thinking of diverse groups.

Several delegates also signed up to the Inclusive Leadership Pledge join West Midlands Combined Authority (WMCA) movement to make the region’s leadership more inclusive of the diverse communities who live and work in the West Midlands.

Also Read: How this African Diaspora is keeping the tradition of African storytelling alive

The next OAN Diversity and Inclusion in Business Forum 2020 will take place on Thursday 05 November 2020 in Birmingham. Those who wish to attend and participate can find more information at

SSCG Consulting

Continue Reading

Business Home

ACP Business Summit: Improve the Business Environment to Drive Industrialisation in African, Caribbean and Pacific Countries – Elumelu




L – R: Tony O. Elumelu, CON, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and UBA Group; H.E. Uhuru Kenyatta, President of Kenya; at the 9th ACP Business Summit in Kenya on December 8, 2019, as Elumelu Presents the Keynote Speech.

Nairobi, Kenya, December 9, 2019: Tony O. Elumelu, CON, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and United Bank for Africa Group, urged African, Caribbean and Pacific (ACP) Heads of State to improve the business environment in their countries to drive industrialisation and wealth creation in ACP member states.

He said this while presenting the keynote speech on the theme “Industrialization and Private Sector Engagement for Economic Transformation of ACP States” at the Presidential Dialogue of the 9th ACP Business Summit in Nairobi, Kenya.

Elumelu stated that industrialisation will not be achieved without support for small and medium scale enterprises (SMEs) and improved access to electricity. “We cannot hope to industrialise if we do not fix the issue of power, if our entrepreneurs spend so much of their resources to power their businesses, how then are they expected to make the investments necessary to upgrade and industrialise? If we do not tackle these pertinent issues, we will be unable to achieve industrialisation, wealth creation and poverty reduction,” he said.

He highlighted infrastructure development as another critical area needed to achieve sustainable development, highlighting the key role the United Bank for Africa Group plays in achieving this. “UBA is a force for development in Africa through infrastructure investment and leading the way in cross border payments and services, with the objective of encouraging trade across the continent,” he said.

While citing the impact of the flagship Entrepreneurship Programme of the Tony Elumelu Foundation, Elumelu highlighted the critical role partnership between the private and public sectors, as well as developmental organisations, play in achieving industrialisation. The Tony Elumelu Foundation, a private-sector-led philanthropy,  is on a mission to catalyse the economic transformation of the continent by empowering young African entrepreneurs – over 7,500 beneficiaries across 54 African countries thus far – through its Entrepreneurship Programme. Elumelu shared stories of beneficiaries in Kenya including Dr. Peter Gichuhi Mwethera, who has developed a contraceptive gel, Uniprin, which aims to prevent HIV infection, and Maureen Amakabane whose company, ‘Usafi Sanitation’, is bridging the sanitation gap in schools by providing waterless toilets.

Also Read: How this African Diaspora is keeping the tradition of African storytelling alive

He said: “To date, we have 497 beneficiaries in Kenya, 596 in Uganda, 187 in Tanzania and 194 in Rwanda. This brings the total number of TEF Entrepreneurs in East Africa so far to 1,474, so far. Organisations such as the UNDP, African Development Bank, the ICRC, and GIZ have helped increase the number of young entrepreneurs we can support “.

The President of Kenya, H.E. Uhuru Kenyatta shared the same approach to development, while highlighting his country’s private-sector-focused plan which has propelled the country’s ease of doing business rank from 129th position out of 190 economies in 2013 to the 56th position in 2019. 

President Kenyatta said: “Our young people are tech-savvy and indeed with a huge entrepreneurial spirit. They are ready to embrace the digital revolution. We are experiencing a flourishing digital innovation ecosystem which can stimulate the rate of growth of ICT and technology innovations, and nurture vibrant tech startups and incubator hubs as Tony [Elumelu] has mentioned, of those young men and women he has supported through his family and Foundation”.

In closing, Elumelu stressed the importance of including women in the development agenda of the ACP region, commending the European Investment Bank (EIB), for its initiative “She Invest”, which is focused on mobilising 1 billion Euros for women across Africa. “We at the Tony Elumelu Foundation strive to reach the same goals of uplifting women out of poverty and empowering them with knowledge and resources. This is an invitation to join forces as we have done with the UNDP to lift 100,000 young African boys and girls out of poverty, thereby stemming migration challenges,” he said. 

Tony Elumelu Foundation

Continue Reading

Business Home

Cars45 Expands to Ghana and Kenya




Pan-African automotive platform launches consumer-to-consumer marketplace to match sellers and buyers

Lagos, Nigeria – 10 December 2019 – Cars45, Nigeria’s leading automotive trading platform, has launched into Ghana (  and Kenya ( Cars45 is aiming to become the primary platform for all car transactions in the $45 billion African used car market and expansion into these strategic markets marks an important step on that journey.

In an African market where 9 million used cars are traded annually, trust is often a rare commodity as buyers and sellers navigate opaque pricing and quality assurance structures. Using its technology-enabled platform, consumers in Ghana and Kenya can now sell their cars directly through Cars45 and get paid in 45 minutes. Sellers have access to standardised pricing and a transparent marketplace, with 100 percent visibility into price offers, and buyers get access to the largest selection of verified cars. Cars45 will also provide vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing and other ancillary services that consumers will need in their automotive lifecycle.

With retail locations already opened in Nairobi and Accra, Cars45 plans to increase its footprint in Ghana and Kenya even further by opening more centres in Mombasa, Takoradi and other cities. Cars45 also aims to expand into additional African markets in 2020.

In addition to its launch into these markets, Cars45 is also launching a consumer-to-consumer marketplace that directly matches sellers and buyers across all markets it operates in. In an African automotive market where trust is not traditionally high, consumers will be able to connect in a seamless and secure way, using Cars45 as a marker of professionalism and excellence.

All cars listed in the Cars45 marketplace have been through a thorough vetting process (200 point inspection, due diligence and background check) and will carry the trusted Cars45 inspection report. Cars45 will also conduct multi-level screening to ensure that only serious buyers are brought forward. Buyers will have full confidence in the purchase they are making and sellers will be protected by an escrow model.

Also Read: How this African Diaspora is keeping the tradition of African storytelling alive

According to Etop Ikpe, CEO and co-founder of Cars45, “We want to connect buyers and sellers across the continent in the most seamless way, taking the stress out of the trading experience. After successfully establishing ourselves in Nigeria, expanding into Ghana and Kenya made perfect sense as the ideal next step as we build a transparent and fair structure for trading cars on the continent.

Ikpe added that “the process of buying and selling cars today can be complicated, time-consuming and needlessly expensive. We want to put an end to that by providing an easy and convenient way for consumers across Africa to make what is often the most significant financial transaction of their lives.”


Continue Reading

Subscribe via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,835 other subscribers


Most Viewed