The year 2019 promises to be precisely the kind you want it to be. But first, a reminder: “Don’t get too excited about this New Year stuff; only the calendar has changed-the spouse, job and targets remain the same.” (Anonymous).
So how do you want your 2019 to be? Here are three resolutions you can make to dramatically outdo your 2018 performance. Pick one; anything more and you’ll be deluding yourself.
It does not matter how strong you imagine your resolve to be; you are influenced by the company you keep. Do you want to improve your sales to be like that colleague you covertly envy but overtly bad mouth? Well, change your perception of him.
Genuinely open up to him thus: “I admire how you sell and want to learn from you. Please let me sell with you and correct me where I go wrong.” And then commit to this; the winner will see it and pull you up.
Be wishy-washy about it and he won’t. Choosing to soar with eagles means that the chicken you have been pecking at the dirt with will despise you for it. Let them; they will always be chicken. You must fly. You must soar. Will it be easy? No. That’s why it’s a resolution.
BE PURPOSEFUL. SET SELFISH GOALS.
The goals you set should be to achieve something for yourself, not just the company you represent. Let it not be merely to meet the set targets but to pay for your child’s school fees for that private school that is a cut above your peers.
Usually, this selfish target is above the company’s but is the primary driver. It should motivate you to celebrate a personal victory while the company celebrates your public victory for surpassing targets.
Enrol your spouse or girlfriend as your accountability partner. This is the person who will push you to succeed, so be sure to make it selfish for them too by incorporating a win for them. How? “I’ll buy you dinner every quarter I meet my target.”
Of course your partner’s target should be to celebrate, not derail your savings for payment of fees, for instance.
INVEST IN BACK-OFFICE STAFF
These are the unsung heroes of the successful sale. The technicians that install the software or assembly plant you sold; the staff that will process the cheque book and ATM card for the account you sold.
Give them that freebie (calendar or gift pack, for instance) that you usually give your relatives.
Buy them lunch; ask them what you can do different this year to make your mutual relationship smoother; invite them to a sales call.
Put a smile on the face of these unsung heroes by surprising them with recognition and watch your applications effortlessly jump the processing queue in the course of the year.
Here’s to surpassing your targets in 2019. Cheers!
World Bank pushes G-20 to extend debt relief to 2021
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.
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.
Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans
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.
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.
Scope Markets Kenya customers to have instant access to global financial markets
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.
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.