By 'Gbenga Bankole
The Minister in Charge of Christ Apostolic Church, Light House Assembly, Ikeja, Lagos, Pastor Abraham Ekebafe has said a blessed man that doesn't do anything will remain in poverty.
Quoting the book of Psalm chapter 1 verses 1 to 3: "blessed is the man who walks not in the counsel of the ungodly, nor stands in the path of sinners, nor sits in the seat of the scornful; but his delight is in the law of the Lord, and in His law he meditates day and night, he shall be like a tree, planted by the rivers of water, that brings forth its fruit in its season, whose leaf also shall not wither; and whatever he does shall prosper," he stated that everyone is blessed immediately one accepts Jesus Christ as personal Lord and Saviour, but one needs to work in order to avoid poverty and prosper.
Pastor Ekebafe stated this while ministering on the topic "Digital Investment" on Thursday July 22, 2021 at the 2021 Academic Summit organised by CAC Youth Fellowship in Joseph Ayo Babalola University (JABU).
While urging the students to tap into the advantages in digital investment, the Cleric said for every advantage, there is a disadvantage, for every disadvantage, there is an advantage, it depends on where you switch.
He listed some of the investment types which he said are banks and financial investments,real estate investments, agriculture and livestock investment, bonds and stock investments and cryptocurrency and blockchain investments, saying that what you don't believe you don't become.
Pastor Ekebafe told the students not to be a blessing that abounds in poverty.
Commenting on "crowd funding digital investment, Pastor Ekebafe further said: "Crowdfunding is when a ‘crowd’ funds a project or business, rather than one or two major investors. The practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the internet. There are four different types of crowdfunding: rewards, donation, debt and equity. A youthful population, increasing smartphone penetration, a focused regulatory drive to increase financial inclusion and cashless payments, are combining to create the perfect recipe for a thriving Fintech Sector. For banks to remain appealing and competitive in a shifting landscape, they need to transform into agile and customer-centric organizations by embracing technology. Fintechs can create impact in three broad dimensions: through stimulating economic activity, by creating a multiplier effect, and by driving progress towards development goals.
According to him, there are six broad FinTech segments supported by an ecosystem of enablers; payments, mobile money and lending jointly constitute about 60% of FinTech population which are payments, Mobile Money & Digital Banking, landing, savings, investment & crowdfunding, enterprise services & infrastructure and cryptocurrency.
He said one can make basic savings, discipline savings, habits or targeted savings through piggyvest which guaranteed interest rate between 6-13%.
Pastor Ekebafe further disclosed that one can make investment in agriculture with typical returns between 25– 40% per lifecycle defined through "Agropartnership" powered by farmforte.
The Cleric also talked about Crowdyvest, Trove, Bamboo, Cowrywise and Wealthng which are among the investment types youths can tap into.
He concluded by saying that "technology and digital trends are disrupting the traditional approach to everything. Early adopters will make it big, but the risks are higher presently. It can only get better, it’s the future, it has come to stay.Thinking about the future – Think Digital.Investment is the way to go – Jump in, be disciplined and keep growing."