South African women have been known to conceptualize and participate in the most innovative ways of saving and investing money. From being able to draw up budgets from seemingly low salaries to leading food and financial stokvels with the aim of looking after their families. In the interest of furthering and contributing to their already existing financial knowledge, South African food brand, Knorrox has partnered with Nicolette Mashile and CEO of Livestock Wealth SA to empower South Africans, especially women and to educate them about the power of saving and investing.
Media personality and entrepreneur Nicolette ‘Financial Fitness Bunny’ Mashile, hopes to help fellow South African women “Level Up” financially. Mashile aims to do this by talking openly and honestly about money as well as how women can become more financially independent and plan for a more financially stable future. Mashile explains that there is a difference between saving and investing. Although they work hand in hand, solely saving money is not enough to keep up with high inflation rates.
Mashile explains the difference between saving and investing, “A savings account presents minimum risk. Consumers can earn interest on the money saved; the initial capital is guaranteed and it’s easily accessible as and when it is needed. This type of account allows consumers to save money for a specific purpose over a short period of time. Investments are aimed at wealth building. Greater risk is involved, but they present the potential for higher returns than a savings account”.
For women that are planning to save for a child’s university fees, the following options should be considered; putting money aside every month in a fixed deposit account, a money market or a notice deposit account. Another option would be to invest money in financial or non-financial assets.
“When one is looking to invest, they should weigh their investment options against their financial goals. The questions to ask yourself are, what do I want this money to do? The period I can invest it. And how involved do I want to be in growing my investment? You should not invest in something you don’t know or understand,” advises Mashile.
One of the aims of Knorrox’s campaign is to educate consumers about Livestock Wealth and its benefits. Ntuthuko Shezi who is the Founder and CEO of Livestock Wealth SA has played a critical role in this campaign. Shezi recognized an investment opportunity he understood while growing up in a rural area where his grandparents owned a couple of cows.
“The cows were the bedrock of my family’s finances, and that got me thinking. Cattle are like a walking bank, and we see ourselves as the bank of the future, where every person who owns a cow can access financial services through Livestock Wealth, just like it has always been in Africa”, explains Shezi.
Crowd-farmingTM is a term Livestock Wealth uses to describe their platform that links farmers with ordinary people who want to invest in agriculture. This initiative offers a modern take on traditional cattle farming, where one gets to invest in a sustainable farm by buying a cow, watching it grow and reaping the rewards of their investment.
To find out more about the Knorrox Cash Cow campaign and competition, visit www.knorrox.co.za or the official Knorrox Facebook page to get entry details . Listen out for Knorrox Cash Cow on your local radio station and visit your nearest supermarket to find out more.