Money is very important in today’s society. Many people think that being rich means being happy. But can money alone bring us happiness? Having money plays an important role in our comfort level, depending on our personal preferences.
Some people like to spend their money on material things, while others prefer a simpler life and prefer to spend more modestly. However, even these simple people can have very large financial investments and businesses under their belts.
Money: a sensitive element in society
It’s important to remember that money can’t be lent to just anyone and in just any way. It’s not selfishness or malice, it’s just reality. Not everyone knows how to manage money and repay debts, especially in Africa. So when you lend money to a relative or friend in Africa, it’s important to understand that you may never get it back.
Giving someone money, whether for a loan or anything else, means making sure you won’t run into any financial problems later on. It’s common to hear someone say they’ll give you the money back in 7 days, but in reality, it’ll take longer and you’ll have to chase them up. It’s rare for someone to spontaneously return the money after this period. You often have to remind the person to give it back to you, which can be annoying.
If you have money, it’s best to think of it as an investment in your future project or business. Don’t lend money to your loved ones in the hope of getting it back. You may be disappointed. Even if you find it necessary to do so, you have to be very careful about who you give money to. Make sure it won’t cause you any problems if you don’t get it back. It’s rare to find reliable people, although it’s not completely out of the question.
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The difficulties of family entrepreneurship in Africa
In Africa, it’s often difficult to work with family and friends, because you’re not in a productive environment. Unlike other cultures, such as the Greeks and Pakistanis, who know how to manage their money very well. We find it hard to manage family affairs harmoniously. Even if you pool money with family members, there are often problems and quarrels in the end.
It’s rare to find success stories in our business where we work in partnership. Successful collaborations are rare, whereas in other communities they are easily achieved. In South Africa, for example, there was a restaurateur who, after several years working alone, decided to work with friends. Everyone had to do their bit to move the project forward, and in the end everyone got a percentage of the product. That’s why it’s essential to choose the people with whom you undertake projects carefully, and to make sure they have a solid financial vision.
The importance of financial discipline and teamwork
In Africa, it’s difficult to work with money because everyone is looking out for their own interests before the general interest. The aim here is not to discourage, but to warn. When working on a project, don’t involve financially immature people, even if they’re members of your family, lest it end badly. Merging with a person with whom you have no ties is even better because there will be no emotions. But with a family member, it’s difficult because he’s convinced that whatever he does, you won’t be able to bring him to justice.
Furthermore, financial education for our children is essential to help them grow up with a certain financial mentality. The Pakistanis and the Greeks are making progress because, from childhood, they have learned to work together. Similarly, in Africa, we need to inculcate these habits in our children. It becomes even more important to stick together as a family.
Money plays an important role in our comfort, but it doesn’t necessarily guarantee true happiness. It’s crucial to manage your money responsibly, and to be careful when lending money to friends and family.
Totally inspired by Zack Mwekassa’s video
