Investment clubs foster growth
Sep 02, 2009
INDIVIDUALS can, through investment clubs, mobilise money to invest in wealth generation, Tony Wainaina, a Kenya-based venture capitalist, has said.
By Sylvia Juuko
INDIVIDUALS can, through investment clubs, mobilise money to invest in wealth generation, Tony Wainaina, a Kenya-based venture capitalist, has said. Citing the example of Kenya, Wainaina noted that while investment clubs were fragmented, they had been recognised as a powerful force that brings people together to save and invest.
“In Kenya, over $790m is in investment groups and they have been able to save and invest. This is a significant amount of money, but the challenge is how we harness this income,†he said.
Wainaina was delivering a key-note address on the role of investment clubs in sustainable wealth creation at a financial literacy week event at Imperial Royale Hotel in Kampala. The initiative was organised by Investors Club, an investment and advisory services firm. It was supported by Fin Lit Foundation.
Wainaina, however, cautioned that prior to setting up an investment club, it was critical to screen membership and choose strong leaders.
INDIVIDUALS can, through investment clubs, mobilise money to invest in wealth generation, Tony Wainaina, a Kenya-based venture capitalist, has said. Citing the example of Kenya, Wainaina noted that while investment clubs were fragmented, they had been recognised as a powerful force that brings people together to save and invest.
“In Kenya, over $790m is in investment groups and they have been able to save and invest. This is a significant amount of money, but the challenge is how we harness this income,†he said.
Wainaina was delivering a key-note address on the role of investment clubs in sustainable wealth creation at a financial literacy week event at Imperial Royale Hotel in Kampala. The initiative was organised by Investors Club, an investment and advisory services firm. It was supported by Fin Lit Foundation.
Wainaina, however, cautioned that prior to setting up an investment club, it was critical to screen membership and choose strong leaders.