It’s cool to work hard
and make good money, but it’s amazingly cooler to have your money work hard for
you to make even more passive income. Fact is, for your money to work for you,
you ultimately need a well-structured investment vehicle that can consistently
multiply your money.
The 360 million Club
under the auspices of Nyadiedo Multipurpose Cooperative is one such hassle-free
investment vehicle that uses its inbuilt systems to guarantees impressive
monthly returns on your monthly savings. For starters, its branded 360 million
club because its allows members save 50,000 monthly for ten years and yields
360 millions in compound interest. Isn’t that impressive?
The exclusive strength
of the 360 million Club is the well-structured systems of inter-business
synergy between Nyadiedo Multipurpose Cooperative and Nyadiedo Microfinance
Company. Assuming you were saving on your own, in ten years your monthly
savings will be UGX 6.000.000, yet under 360 millions Club you would have a
return of 360.000.000. That’s how the saving product acquired its brand name:
360 million Club.
The 360 million Club
guarantees a monthly return of 5% on members savings. The scheme gets this
return by lending saver’s money market women who sell in different markets
across the Uganda, mostly in urban areas at interest rates of 7% per month. Savers
are guaranteed 5% monthly return that accumulates through the power of compound
interest to yield 360.000.000 in ten years.
In essence, the 360
million club lets savers to shoot two birds with the same stone; guaranteed
high return on investments and financially empowering market women through
enabling inclusive access to credit. Most of these market women running
informal businesses would otherwise find it hard to access credit for
operational capital from mainstream financial institutions. Social impact is at
the heart of Nyadiedo’s investment strategy.
Juxtaposed against
other contemporary investments and saving plans in the market, the 360 million
club has unparalleled high rates of returns. In the Ugandan market for
instance, Insurance companies such as Jubilee Insurance, ICEA and UAP Insurance
have similar saving plans. The annual rates of return in these schemes ranges
between 7% to 15% per year. When you save 100.000 per month in these schemes,
and you are earning an average of 10% per year, your cumulative yield over ten
years will be UGX 21.000.000. Nyadiedo is capitalizing on the powers of high
rates of returns that emerging economies offer.
Well, now that’s why I
call the 360 million club an exclusive wealth creation vehicle. If I am to choose
between saving at the other traditional saving plans where I will save 100.000
per month and get 21.000.000 in ten years, or investing only 50.000 at the 360
million club and making 360 million, its obvious I will choose Nyadiedo over
any other scheme.
The other advantage
with the 360 million club is that it’s owned by savers since it’s structured
under Nyadiedo Multipurpose Cooperative. Members have a say on the business
strategies of the schemes. Savers simply have no say in the business strategies
of other traditional saving plans by banks or insurance companies.
Finally, and perhaps
the most wonderful aspect of the 360 million club is the financial freedom it
guarantees. Presently the oldest member of the Scheme, Mr Ojijo Pascal will be
43 in ten years and the youngest member of the scheme Karungi Patricia will be
32. In ten years Patricia’s savings will yield a return of 360.000.000/=. If
she opts to put her 360.000.000 money at Fixed Deposit at the rate of 10% per
anum, she will earn interests of 36,000,000 per year or 3.000.000 per month.
All that will be passive income.
Asked how he conceived
the idea, Ojijo opined that he needed to support market women, in the same way
GoBigHub was already connecting local investors to local entrepreneurs.
Nyadiedo Microfinance, the sole vehicle through which GoBigHub supported market
women couldn't legally accept deposits. When the women wanted their own saving schemes Nyadiedo was born. “Taping on my expertise in collective
investment schemes, I was motivated to create a product that would financially
benefit both the saver and the woman in the market. That is what makes The 360
million to stand out ” said Ojijo.
The strategic
leadership of the scheme is comprised of a solid team led by Ojijo Pascal.
Ojijo is a respected consultant in collective investment schemes, and is an
author of 49 books, including best sellers in the field of investment schemes
such as Successful Saccos: Manager’s Guide to Attract, Grow and Retain
Savings, Membership, Assets and Making Money Together: Ojijo’s Investment Clubs Manual.
Nyadiedo Multipurpose
Cooperative is based at Kabagala, collocated with the Headquarters of GoBigHub.
Beyond the 360 Million Club, the cooperative offers different other savings and
loan products.
By Owachiu Dennis
The
Author is Chairman and CEO of Dextra Group, Founder of DLX Group and a proud
saver in the scheme.
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