Connect with us

Business Home

Jobberman Ghana Stirs Initiative to Enable SMEs Hire The Right Way

Published

on

Jobberman Ghana initiates an employer-focused drive to encourage the best hiring practices in the online Human resource and recruitment ecosystem. Dubbed the #HireTheRightWay campaign, this is an employer-focused initiative that addresses the SME industry in Ghana. It re-introduces Jobberman Ghana as the recruitment partner of choice to the SME industry and creates awareness for its job listing products and services to enable SME employers to recruit from its diverse pool of job seekers based on four key values.

Following data from the Ghana Statistics Board, SMEs are the backbone of the Ghanaian economy with eighty-five per cent (85%) of them, largely within the private sector, and contribute about seventy per cent (70%) of Ghana’s gross domestic product (GDP).

Commenting on this initiative, CEO of Jobberman Ghana, Kwaku Agbesi said, “We saw how crucial the SME industry is to the development of Ghana, and how this development can be affected if Hiring Managers and Business Owners make the wrong hiring decisions through poor hiring practices. It is with this that we open our arms to all SMEs across the country, to a bespoke experience of hiring the right talent, the right way using our online platform”.

The campaign is aimed at satisfying the recruitment needs of MSMEs and SMEs by connecting them to a vast pool of qualified candidates via its platform. By partnering with growing businesses, Jobberman plans to introduce them to the right way of recruitment which is reliable, efficient, affordable and easy to use. “Hiring Right for us means the ability to affordably access qualified candidates with an easy to use intuitive interface, dedicated customer service, and tools to assess, filter and sort the best and brightest applicants,” adds Ibrahim Assani, Head of HR and Recruitment at Jobberman Ghana.

Over the next eight (8) weeks, Jobberman Ghana will be communicating with SME employers on how to effectively Hire Right through a series of virtual discussions with experts, networking opportunities and career and hiring best practices through its website and social media platforms.

Visit Jobberman Ghana

Download BAO E-MAGAZINE

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Business Home

How to Make Money Online by Buying and Selling Bitcoin

Published

on

Bitcoin is a cryptocurrency that doesn’t require much introduction. It is the leading digital asset in terms of market cap and a top trend that has been around for a while. With increased popularity and adoption comes the debate around the best way to make money with Bitcoin. There are several ways to make money with the asset, it all depends on your investing approach or trading strategy. Buying and selling bitcoin or called bitcoin trading is one of the ways you can make money with the digital asset. But if you want to buy bitcoin and sell with the aim of making a profit, there are certain evaluations you have to make.

Bitcoin Trading

Trading simply means buying and selling, mostly with the aim of making profits/money. So bitcoin trading means buying bitcoin at a reasonably low price and selling it at a much higher price. Bitcoin trading depends greatly on how effective you are at gathering intelligence, analysing the market, and taking calculated risks. Having a good risk mitigation strategy and a profit taking plan is also crucial. Below are some of the strategies traders implement when crypto trading.

Day Trading

Day trading entails taking trades within short timeframes. The method involves a careful reading of the market, spotting the small opportunities to make profit, and making the most of those opportunities by taking decisive action. So basically, you buy bitcoin at a low price, wait for a little positive swing in price and then you sell. You are taking advantage of the daily volatility in the price of BTC and those price market movements. Although the gains could seem relatively small especially when trading with modest capital, over time those smaller profits accumulate into quite significant gains. When implementing the day trading strategy, you can open and close several trades daily. Traders implementing this strategy spend a lot of time closely monitoring their positions. Some experts believe that day trading is the most effective way to make profits from bitcoin trading since the market is highly volatile.

Swing Trading

Swing trading mainly involves a trader buying an asset at a low price, then waiting for that asset’s price to appreciate before selling it off at a higher price. In essence, this type of trading involves taking advantage of swings in crypto asset prices. Swing trading may require waiting a long time compared to day trading, but not as long as when you are implementing the HODL strategy. Basically, you buy BTC at a low price, wait a while for a positive price swing, and close your trade at a higher price. Swing traders don’t spend much time looking at their screen as they can wait for weeks or sometimes months before closing a position.

Arbitrage

This simply means taking advantage of varying bitcoin prices on different digital currency exchanges rather than within the same exchange. This method is effective in places where bitcoin price varies from one exchange to the other like South Africa. So you buy bitcoin from an exchange at a low price and sell on another exchange at a higher price.

Buying and HODLing

HODL is just a play on the word HOLD that has become a common word within the crypto community. HODLing simply means buying bitcoin and then holding with an expectation that the price will go higher in the future. Although the concept of the strategy might sound easy, it nonetheless requires patience and emotional stability. Basically, there are two factors that make trading quite difficult, the first is FOMO which is the fear of missing out, and FUD – fear, uncertainty and doubt. Traders who cannot keep their composure when markets are volatile typically end up buying or selling as a result of either FOMO or FUD which means they buy above the market price or sell at a loss.

In conclusion, bitcoin trading can yield amazing results when done correctly, however, it can also be risky when you don’t have an idea of how to properly make your profit out of it. The rule of thumb is always to only invest or trade what you are prepared to risk losing.

Bitcoin can be a highly volatile asset, and its price actions can be unpredictable at times. While its price movements can be exceptionally high and sometimes low, no one can time the market for certain as there are always many forces and factors that determine the trajectory of market performance.

That’s one reason why risking large amounts of money on a single trade is never recommended. Even if you think you’ve done enough research, making extremely risky moves such as leveraged trading when you don’t have the know-how to properly risk manage could result in massive losses which is never a good idea.

It is important to maintain your composure and to take a level-headed approach to trading. Knowing the fundamentals and understanding that sometimes a cryptocurrency can drop in price sharply but also rebound massively can help you avoid panic selling at a loss. However, also holding on to an asset that continues to poorly perform can sometimes be even worse. It’s ultimately about following through on your chosen trading strategy and adapting as you learn new information in order that your decision making and action taking are always aligned with your objectives. Find out more about 20 of the best platforms to sell or buy Bitcoin in South Africa.

Article & Image source: Heath Muchena 

 

 

Download BAO E-MAGAZINE

Continue Reading

Press Release

Lami, Kenya-based Insurtech secures $1.8 million to accelerate digital insurance in Africa

Published

on

Lami team and press release (Source: Eva Barasa/Lami Tech/medium)

Lami Technologies, a Kenyan insurance technology (insurtech) company that aims to democratize insurance products and services for low-income Kenyans, announced today it had raised $1.8 million in seed funding.

The round was led by Accion Venture Lab’s seed-stage investment initiative that provides capital and extensive support to innovative fintech startups that improve the reach, quality, and affordability of financial services for the underserved.

Founded by Jihan Abass in 2018, Lami is a digital insurance platform that enables partner businesses — including banks, tech companies, and other entities to easily and seamlessly offer digital insurance products to their users via its API. Lami can also be used by partner businesses to manage their own insurance needs. Lami connects partner organizations, such as the e-commerce platform Jumia, with underwriters and allows them to offer a superior customer journey. Through its API, users can get a quotation for motor, medical, or other tailored insurance products in seconds, then customize the benefits and adjust the premium to suit their needs, get their policy documents instantly, and claims are paid in record time.

Lami’s services are enabled by its flexible insurance rating engine and direct integration with several parties and insurance companies. Lami co-designs innovative products with its underwriting partners to enable businesses to offer unique insurance products to their underlying customer base, with flexible options that meet their needs and cash flows, such as monthly medical policies for startup employees.

Jihan Abass, CEO & Founder of Lami (Source: Eva Barasa/Lami Tech/medium)

Jihan Abass, CEO, Lami, said: “This funding will allow us to invest in hiring more people, improving our technology, and growing our presence across Africa as we can continue to address the persistent insurance gap. At Lami, our vision is to help improve the financial resilience of millions by making insurance products more accessible and affordable for underserved populations. By enabling our business partners to offer customized insurance solutions, we are helping them provide more value to their customers while enabling large volumes of users to access insurance, often for the first time.”

Africa’s insurance market currently stands at a 3 percent penetration rate, except for South Africa, and is facing modernization and innovation challenges. Most insurance providers on the continent fail to offer flexible, affordable and tailored insurance coverage to provide a safety net for the African consumer. Low insurance uptake is partly due to the traditional distribution and administration of policies, mainly relying on brick-and-mortar channels where policies are sold and processed manually. This results in a longer processing cycle, poor customer satisfaction, and higher distribution costs.

Lami’s digital insurance platform leverages cloud computing, automation, and third-party service providers such as emergency and valuation, or identity and asset verification databases, to offer a comprehensive ecosystem for the businesses they partner with to develop, distribute and manage highly streamlined and competitive insurance products that are designed to meet their customers’ needs.

Since its inception, the insurtech startup has sold more than 5,000 policies and has partnered with more than 25 active underwriters, including Britam, Pioneer, and Madison Insurance, distributing more than 30 products available including medical, motor, employee benefits, and device insurance. As an innovator in the digital insurance space, Lami aims to continue diversifying its business by looking for new partners and building on its core technology.

Michael Schlein, President and CEO, Accion Venture Lab, said: “Ninety-seven percent of Africans lack access to insurance — a financial safety net that can help them build resilience against economic shocks. Lami helps address this need for consumers across Africa through its innovative approach that leverages technology and partnerships to help any business develop and sell insurance.”

“At Accion Venture Lab, we’re excited by how Lami is using technology to create a pathway for customers to purchase insurance that is specific to their needs. By embedding customized insurance within businesses that customers know and trust, Lami is making insurance accessible for underserved populations in Africa and enabling them to build financial resilience. “said Ashley Lewis, Africa Director, Accion Venture Lab

This investment highlights the strong commitment of all organizations to ensuring that financial services are made accessible and affordable for the underserved.

Download BAO E-MAGAZINE

Continue Reading

Investment

Is Bitcoin A Better Investment Than Gold?

Published

on

Over the past few years, gold has proved to be a safe haven commodity for investors. However, the recent pandemic seems to be a positive turning point for its fierce competitor bitcoin. the reputation of the digital asset as a safe commodity waxed stronger during the economic meltdown and the value and adoption have been on the rise since then. The result has been a greater interest in digital assets and more people choosing to buy bitcoin. The rise in the price and market capitalization is a strong indicator.

But does that mean that bitcoin is a better investment than gold? Let’s compare the two tradable assets to help you decide what could make the better investment between the two.

Comparing the two safe-haven assets

Safe-haven investments involve assets that maintain their value, increase in value, or outperform other assets during financial crises. For so long, gold has been perceived as the ultimate safe-haven asset because it has always outperformed other assets when financial markets crumble.

Although gold didn’t seem to meet investors’ expectations during the COVID-19 crisis, it still managed to outperform equities and some commodities.

While bitcoin’s performance at the beginning of the crisis was quite low, dropping from $9,700 to $4,891 in March 2020. It rebounded quite strongly about 6 months later in the last quarter of 2020, trading above $11,000 in October.

Bitcoin yielded a cumulative return of +44.64% between March 24, 2020, to May 6, 2020, surpassing every form of investment during the pandemic. Interestingly, the digital asset continued on a bull run to hit $20k in December and is currently trading at about $56,000.

If you were fortunate to buy bitcoin before the crisis, your portfolio would be up by approximately 447.3% today, making it the most lucrative form of investment to date.

Gold is stored in a vault and managed by a custodian. As a physical asset you can also store it in the bank or even in your home. However, storing gold in a vault offers flexibility and it’s much safer than storing the precious metal in your home. Bitcoin on the other hand requires a wallet to store the asset. You have to possess a bitcoin wallet before you buy BTC. You cannot keep bitcoin in a wallet the way you put your cash in a wallet because it is a digital asset. A bitcoin wallet is a software program that has a unique key. Once you purchase BTC and store it in the wallet, the private key guarantees your ownership of the asset and must be kept safe. Unlike in a vault where gold is managed by a custodian, you are fully in charge of your asset with your private keys in the case of bitcoin, and you can also make transactions at any point in time, peer-to-peer.

Which asset has shown value increase over time?

Gold has survived the test of time and is no doubt a good investment option. Its value has grown consistently over centuries and it is a trusted store of value. Bitcoin shares some similarities with gold and has even been dubbed gold 2.0 by many. Although it will always have unstable prices because of its volatile nature, it has, however, proved to be a good investment option with a consistent increase in value even during economic downturns when even gold has not quite performed to expectations.

Which has served longer?

Unlike bitcoin, gold has been around for centuries. It is an attractive, durable and multi-purpose resource that has stood the test of time. Aside from its good return on investment, it has other unique features. It is a scarce resource and thus has a limited supply. Bitcoin was developed in 2008. It is still a  relatively new technology, nonetheless, it has shown great potential since being created. Long term its prospects look bright as even countries like China are now looking to introduce their own versions of digital currencies.

Which can be used for other investments?

You can decide to use bitcoin to buy other cryptocurrencies. If you have bitcoin and you don’t wish to hold the asset anymore, you can buy other crypto assets directly with bitcoin. However, gold is not as flexible in that same regard and it’s an asset that is not easily liquid especially for the retail investor or trader.

Which is more safe and transparent?

The method of trading gold is old and trading the asset is quite cumbersome. Before buying gold, you need to weigh it, track, and test to confirm if the gold is pure. It is easy to deceive those who do not have machines that can detect whether the metal is really gold or counterfeit metal.

Bitcoin on the other hand is tough to alter or corrupt. It is cryptographically secure, easily trackable and cannot be double spent. Despite being powered by a decentralised and trustless network, bitcoin traders and investors ought to exercise extra caution since the world of cyber can be infested with cybercriminals and hackers.

Which of the two is more scarce?

Both bitcoin and gold are rare assets. However, unlike gold, bitcoin has a limited issuance with only 21 million to be mined into existence. All this was predetermined in the initial bitcoin code and cannot be altered. There is no accurate way to evaluate the amount of gold that can be mined. Even if we exhaust the gold on earth, gold can be mined in asteroids. Some companies are already looking into the mining of gold in space and on other planets. In future this could significantly affect the supply and demand mechanics in the gold markets.

Which of the two is more volatile?

For any investment option, you need to consider the history of the price. Bitcoin is a very volatile asset, its price was at its peak in 2017 before the fall to $3000 in the following year. Recently, the bullish run took bitcoin past the $41000 mark in January 2021 and it continues to be on the rise as the bull market rally continues almost unabated.

Gold is also volatile because the price of gold can be influenced by other market forces. Gold however, is the more stable of the two and the average and conservative investor would likely choose gold as the safer trade. But even with its high volatility, bitcoin has always shown a consistent and more rewarding price increase over time.

Which of the two can be converted to cash easily?

Gold and bitcoin are both liquid investment options and they can be converted to money anytime. Gold however is not as easily convertible to local currency compared to say bitcoin which can be exchanged peer-to-peer. Converting gold to local currency is time consuming and the process is riddled with regulatory constraints. To convert your digital currency to local currency, all you need is to use exchanges like Remitano where you can buy or sell bitcoin.

Conclusion

Any asset that is considered a good investment must also be a good store of value or be a hedge against the volatility of other assets. Bitcoin is stored digitally and thus eliminates the risks associated with physical stores of wealth such as gold. All you need to store your bitcoin is a cryptocurrency wallet. Bitcoin is portable, divisible and easily exchangeable and transferrable. It’s the ideal medium of exchange for cross-border transactions and it gives users complete privacy and at the same time full transparency since all transaction records are publicly available on an immutable blockchain or distributed ledger.

All things considered, it appears that bitcoin is inherently superior to gold in many ways even though like any other innovation, it comes with its own specific shortcomings which cannot be ignored if you want to consider investing in the digital asset. At the current rate, it is not beyond feasible that if the cryptocurrency market continues to increase in market cap, it may some day in the future rival gold in demand and adoption.

Written by Heath Muchena 

 

Download BAO E-MAGAZINE

Continue Reading

Ads

Most Viewed