On Friday, 19th January 2018, Cytonn Foundation, the corporate social investment arm of Cytonn Investments Management Plc that focuses on giving back to society through skill development, held a private Wealth Management (WMT) training at Machakos University located in Machakos county, as part of the Foundation’s financial literacy pillar. During the training, the University staff were taken through a financial planning session with a focus on 4 key pillars; Budgeting, Debt Management, Savings, and Investments in the various asset classes.
Speaking at the event, Maurice Oduor, Investment Manager at Cytonn, noted that personal financial planning is a necessary step towards attaining financial freedom. He noted that, “We should plan our resources so as to meet our needs as they fall due, have a peace of mind, as well as maintain comfortable living standards. He also noted the role that saving plays in an individual’s financial well-being by emphasizing that,” Saving and living within our means is a sure way to attaining our financial stability.” Maurice also highlighted the importance of planning before borrowing by stating that, “To be able to manage our debt, we should plan before borrowing and commit at most a third of our monthly income into repaying the said debt.”
In the afternoon session, the University’s students were taken through the Cytonn Young Leaders Program (CYLP) training. Speaking during the session, Victor Ondiwo, Human Resource Assistant at Cytonn noted, “So far, CYLP has successfully trained over 487 graduates and 151 of them have been absorbed as permanent staff.” “We look for entrepreneurial-minded individuals with a proven leadership capability who can be competitive and deliver to our clients’ expectations,” he added.
Cytonn Foundation is built on three key pillars, which are Financial Literacy, Training and Mentorship, and Entrepreneurship. It focuses on causes that resonate with Cytonn’s values and those that the company collectively cares about. Other initiatives of Cytonn Foundation include; Cytonn eHub, under the Entrepreneurship pillar, which is a 12-week training & mentorship program for young & upcoming entrepreneurs that seeks to enhance knowledge & capabilities on how to run & grow successful enterprises, and Cytonn Summer Associate Program, under the Training and Mentorship pillar, whose main objective is to provide developing markets hands-on opportunity for professionals interested in making an impact.