Financial technology is a democratizing force that can change our lives by making financial tools and services accessible, faster and more easily understood — most times at a lower cost. Complex algorithms now often take the place of traditional advisors, perhaps offering more efficient and personalized products for end users.
This year’s Mazima AGM on 28th of November 2018 at Namirembe Guest House will provide an account of where and how the money you have been saving has been stored or invested.
It is a grand opportunity to interact with the other savers and to contribute effectively to the management of the Scheme. We shall have members from the regulatory body (URBRA), our Financial team will provide in details the financial and investment statements as recorded till 30th June this financial Year. It is also important to take note that you might be our next member on the Board of Trustee because we shall be voting that day.
We cannot wait to meet you
As Mazima Retirement Plan is looking to reach out to “Omuntu wa wansi”, we had an interview with NTV to discuss about the challenges that people face or hinder them to save for their retirement or why they choose to save with Mazima. A few of our savers shared their views on the platform.
“Some of the women really are prefer to keep our money close to them (“sente ye kikazi”) in case your husband divorces you or you get into disputes then what next?” -Cecila Eyomu
“Most youths in Uganda save not for long term goals but rather save for immediate or near future reasons for example: people save for televisions, for sofa sets things they can see coming in the next weeks but rather not in the next 20 years”-Mugisha Andrew
“I think people really have a bad saying stuck in their heads “the economy is bad!!”. Well let me tell you the fact, the economy has never been good even at the time of Christ bamubanjako ku musolo. Yes the economy will never be good so if you wait for it to do so am afraid time is passing you by” -Senogga Brian Kimuli
“if you don’t plan for yourself somebody else will plan for you, in this case you have seen scenarios where youths have been used for demonstrations they pay you 5k and you join demonstration because someone else is planning for you”
Mazima Retirement Plan has brought another yet exciting challenge!! Save everyday for 21 days any amount of money through mobile money or at our offices and stand a chance to win a 5% return on your stake after the 21 days.
Reminder!!! you can now turn on your auto-save feature on mobile money to automatically save your desired amount of money on your account everyday.
In 2015, we saw a number of robo-advisors join with major financial services firms as well as a couple of big financial services firms launch their own robo-advisor service. So far, 2016 has started off with a large banking group, BBVA Compass, partnering with robo-pioneer FutureAdvisor to offer a digital platform to customers.
With the advent of technology, we’ve seen men on the moon, self-driving cars, and the rise of artificial intelligence. All of that’s exciting, but not all too relevant to the average person’s day-to-day life. However, coinciding with technology’s advancements of 2016 is a FinTech golden age with the power to change your personal finances.
A growing number of them are prioritizing technology investments, which means advisors who aren’t risking falling behind the curve in productivity and quality of service. According to a recent survey by Financial Planning, zero advisors plan to cut their technology budgets and half plan to increase their spending this year.
Based on its sustained growth over the past year, the fintech industry could experience even greater growth moving into the coming year. Financial technology targets a number of areas within the financial industry, including payments and wealth management.
The 1% continues to receive flack across the globe, as income disparity is one of the hottest financial topics worldwide. Whether or not you think that criticism is deserved, there’s one thing that can’t be denied: the super-rich know how to grow their wealth.
Technology hasn’t slowed down to wait for the outdated insurance industry to catch up. Everything from self-driving cars, big data, and sharing economy platforms have tremendous potential to disrupt the industry, and we’re seeing the growing pains manifest already.