Cytonn Foundation held a Wealth Management Training (WMT) for Embu University staff on 11th October 2017 as part of the Foundation’s Financial Literacy outreach program. The Embu University staff was taken through financial planning with a key focus on 4 key pillars; debt management, savings, budgeting and investment in the various asset classes.
Speaking during the training, Professor Daniel Mugendi (Ag), the Vice Chancellor, Embu University lauded the training for the knowledge shared with the Embu University team. “This training has equipped us with the necessary knowledge to make informed decisions not only when it comes to managing the University’s resources, but our personal resources too”, he noted. “I would encourage us to act on the lessons learnt without procrastinating and work on our personal balance sheet so as to manage our finances effectively” he added.
Cytonn Foundation is focused on 3 key pillars; (i) training and mentorship, (ii) entrepreneurship, and (iii) financial literacy. The foundation seeks to give back to the society through skill development and skill transfer to help individuals better plan and manage their resources. Speaking during the Wealth Management Training, Cytonn’s Investment Manager, Maurice Oduor noted that “we are living at a time whereby educating our children is no longer a retirement plan, and thus we have to actively plan for retirement at the earliest time possible” This was part of his key message to the participants. “It’s never too late to start investing and getting your money to work for you as you plan for retirement” he added.
In the afternoon, the Cytonn Investments team delivered a talk to Students at the University regarding the Cytonn Young Leaders Program (CYLP) and what it takes to get into the highly competitive and intense training program. “We acknowledge the program is extremely competitive and the success rate has been 30% for a typical cohort” noted Anne Joseph, the Senior Human Resource Associate, speaking during the CYLP talk. “The program exposes you to the various departments working towards delivering to promise on our clients’ expectations such as Investments, brand, legal, operations, ICT among others” she added. The afternoon session also saw graduates of the CYLP who have since been absorbed into the firm give testimonials of the impact the program has had on their careers.
“The program gave me a sharp start to my career, they saw my potential and gave me a chance to prove that I had what it takes to survive the twelve weeks of training” noted Daisy Muthee, a client service Assistant and graduate of the CYLP. “The program exposed me to various aspects of the business and I realized that Client Service was the career path I wanted to take” she added.
Embu University students sought to understand the various opportunities and the kind of exposure the program accords. “Among the minimum requirements we look for from graduates seeking to join the program is demonstration of leadership qualities, a score of B+ and must have graduated or expecting to graduate with a second class upper division” noted Patricia Wanjama, a Partner and Company Secretary at Cytonn Investments.