#SikaLife Ep02: From orange seller to over GH₵3,000 monthly salary
SikaLife is a new bi-weekly column where we interact with young people in Ghana about their personal finances and interesting experiences on how they earn and spend their income powered by InvestSika, you can share your own story anonymously here.
In today’s episode of SikaLife, a Research and Teaching Assistant shares his story, reveals some of his personal investments and motivations, and how he went from selling oranges to earning GHS 3,000 monthly
Q: Where do you live?
Kumasi
Q: Oh nice, what is the most exciting thing about Kumasi for you?
Business thrives!
Q: What do you mean by that?
I think Kumasi is the land of opportunities. I have been in Kumasi for the past 6 years and in March 2019 I started my own business. A Banku and Grilled Tilapia joint at a prestigious University around.
Q: Interesting
Yes, it was. The business ran for almost a year, we had good sales and at some point, we were making over 1,000 cedis daily.
Q: Oh wow! How were you able to manage that with work?
I was a student then, I was in my final year at the university and I completed it in May 2019. After three months of operating the business, we employed two people to run the business, and then over time. I had to stop to focus on work.
Q: I see. So, when you visit a restaurant, do you pay with momo, card, or cash?
I almost always pay with Momo
Q: Same here, what would you do if you won 500,000 cedis today?
As a Christian I strongly believe in taking one-tenth of my income as my tithe, so that is the first thing I would do. Then, I would invest 50% of the remainder into Tesla stocks and then build cold stores with full stocks. Finally, I will build a 7-bedroom apartment for rent.
Q: Wow, interesting. Do you currently have any investments?
I have investments in US stocks (Tesla, Palantir, Electrameccanica, and Bianano)I opened these Stocks’ Positions and had held them till now. I had Apple shares but sold my Apple shares in March 2020.
I have engaged in extensive research to invest in the US stock market from Ghana 🇬🇭 it is really difficult and that is one reason I am excited about InvestSika and how easy the whole process is about to be.
Q: Yes, we are excited too about the possibilities InvestSika is bringing to the market. How much do you think you would have to comfortably retire today?
$15 million
Q: What would you say is your life’s philosophy?
You can’t have what you don’t manage!
Q: Interesting, would you rather earn more money or save more money to reach your goals faster?
Definitely picking to earn more money
Q: When was the first time you ever spent some money?
I believe I was 6 or 7 years old, I didn’t grow up with my mom so would get some small money from my dad at the time daily
Q: What did you use the money for?
Food hahaha, always. I spent all of the money mostly on breakfast.
Q: What about the first time you earned money yourself?
I started earning money at an early age. When I turned 14 I managed to sell Oranges and pure water during Junior High School.
Q: Oh wow
Yeah. I would go and sell for an hour or two after school, good times.
Q: What are some apps on your phone you use every day?
Bible, WhatsApp, Twitter, InvestSika
Q: Oh really, that is great!
Yeah hahaha
Q: What is the most expensive thing you currently own?
My own apartment
Q: Nice, congrats. What do you like about the InvestSika app?
You can transfer funds directly from momo to your InvestSika Account easily. And the investment Stocks News Feed which is updated every day, I love that a lot.
Q: Thank you, we make sure you are well informed of market changes and even have a blog we also update weekly.
Yes I know
Q: What is the highest amount you have spent on food before?
The highest I have spent on food is 160 cedis.
Q: What was your first salary and has it grown to date?
Upon completion of SHS I worked as an ICT tutor for 9 months in 2013, I earned GHS 380/month. In 2019, I was selected as a Teaching & Research assistant at a prestigious University & currently have GHS 3000 range per month.
Q: Do you have an emergency stash?
Yes, I do.
Q: What financial advice would you give your younger self?
Financial independence is freedom! There’s nothing heartbreaking like financial hardship. If you can manage well and invest now you can be financially independent.
Q: What are your thought on taking loans?
Actually, I don’t do borrowing! I learned this at an early age. And I have been able to survive without it for many years. You don’t grow big to manage well, you manage well to grow big!
Q: Hahaha I am going to steal that line!
Feel free!
Q: Tell me something you found out super late about money that you wish you knew since?
Investments.
Saving accounts do not yield much like putting your money in investment Accounts. It all depends on your eagerness & willingness. I got it done, so can you. Albert Einstein said, “Compounding Interests is the 8th wonder of the Universe”. Let it work for you!
SikaLife is a new bi-weekly column where we interact with young people in Ghana about their personal finances and interesting experiences on how they earn and spend their income powered by InvestSika, you can share your own story anonymously here.
