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It’s wise to know when to choose flight or fight

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It’s wise to know when to choose flight or fight

Guilt
Guilt cannot change the past and worry cannot change the future. FILE PHOTO | NMG 

The recent story of the fearless young antelope charging at the leopard after giving up on trying to escape caught up the attention of many. For those of you, who have not managed to read the story, it goes like this: The spotting of the fresh leopard tracks, led to the finding of a leopard and a young antelope, Nyala.

The leopard was lying relaxed after the capture of the young one. The young antelope was most uncomfortable and anxious, having been captured by the leopard. Now the Nyala had two options, to escape from the situation (or atleast make an attempt to escape) or fight back (which is the usual dilemma of Flight or Fight). Flight was the first and only instinct, so it tried to run and escape but soon realised that escape is near impossible especially given the might of what it had to fight against.

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So, the young antelope did the most unimaginable, it took the opponent head-on, and tried charging at it and ramming the leopard with its tiny head. And as it did that, the leopard found it amusing and just kept trotting behind. This continued for a while, that every time young Nyala would charge at the leopard, the leopard would just push the young Nyala by its paw. Unfortunately, in the end, despite little Nyala’s initial attempts to escape and fight, the leopard won and killed the young antelope. Sad but true that even if it had been successful in its attempt, it would not have been welcomed back and would have been rejected by the mother as it would have smelled too much like a predator.

Young Nyala exhibited extreme bravery, trying to fight the leopard against its instincts Surely, there is so much for us to learn from this young Nyala:

Taking the decision of flight vs fight: When encountered with a tough situation, the flight may seem the easiest choice, but weigh your choice in carefully. The Nyala could make a choice of escaping, but sure enough, it thought whether it can survive such an effort because not only would that instigate the leopard to attack but it knew it did not have the might or the strength to run faster than the leopard.

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Taking the decision to fight: As much as the Nyala did not have the might to run, the Nyala also knew that it did not have the might to fight the leopard, yet it probably made the choice because it realised that it is better to die fighting this way than to die giving up.

Guilt cannot change the past and worry cannot change the future: As Dale Carnegie puts it, “Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.

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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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