Ho­bit­ton Fund ‘Pa­tumba’ one day in­vest­ment Op­tion...

Zambian Business Times - - FRONT PAGE -

AS the global mega trend of cus­tomer’s pref­er­ence shift from brick and mor­tar in­ter­ac­tions to mo­bile and dig­i­tal fi­nan­cial services gains mo­men­tum, the Hob­biton In­vest­ment Man­age­ment fund has launched a mo­bile based dig­i­tal in­vest­ment ser­vice dubbed – Pa­tumba.

Hob­biton In­vest­ment Fund mar­ket­ing man­ager New­ton Ngambi says that Zam­bia’s first ever mo­bile based dig­i­tal in­vest­ment ser­vice ‘Pa­tumba’ will give an op­por­tu­nity to the gen­eral pub­lic to in­vest and have ex­cess to cap­i­tal mar­ket us­ing a mo­bile phone.

He told the Zambian Busi­ness Times - ZBT that one only needs to have money in their MTN mo­bile money ac­count for as low as K1 to K20,000 to be el­i­gi­ble to in­vest in a day. The money can be re­turned after 91 days with an in­ter­est as nearly equiv­a­lent to the trea­sury bill rate which is cur­rently at about 18.5%.

AS the global mega trend of cus­tomer’s pref­er­ence shift from brick and mor­tar in­ter­ac­tions to mo­bile and dig­i­tal fi­nan­cial services gains mo­men­tum, the Hob­biton In­vest­ment Man­age­ment fund has launched a mo­bile based dig­i­tal in­vest­ment ser­vice dubbed – Pa­tumba.

Hob­biton In­vest­ment Fund mar­ket­ing man­ager New­ton Ngambi says that Zam­bia’s first ever mo­bile based dig­i­tal in­vest­ment ser­vice ‘Pa­tumba’ will give an op­por­tu­nity to the gen­eral pub­lic to in­vest and have ex­cess to cap­i­tal mar­ket us­ing a mo­bile phone.

He told the Zambian Busi­ness Times - ZBT that one only needs to have money in their MTN mo­bile money ac­count for as low as K1 to K20,000 to be el­i­gi­ble to in­vest in a day. The money can be re­turned after 91 days with an in­ter­est as nearly equiv­a­lent to the trea­sury bill rate which is cur­rently at about 18.5%.

“Any sub­scriber can in­vest as low as K1 into Pa­tumba, and can only with­draw their in­vest­ment after 91 Days,” he said. On how to ac­cess Pa­tumba, Ngambi ex­plained that by di­alling *303# and se­lect op­tion 6 for bank­ing and op­tion 4 for Pa­tumba, the flow is in­tu­itive and easy to fol­low.

The com­pany has reg­is­tered a unit of trust fund called Hob­biton Trust Fund which is a Col­lec­tive In­vest­ment Scheme where peo­ple in­vest by buy­ing Units in the fund and a re­turn on their in­vest­ment will be paid at the end of the pe­riod. The Hob­biton Unit Trust Fund is reg­u­lated by the Se­cu­ri­ties and Ex­change Com­mis­sion (SEC).

The or­gan­i­sa­tion has a vi­sion to be world class fund man­age­ment, as­sets man­age­ment and in­vest­ment ad­vi­sory firm with the mis­sion to pro­vide con­ve­nient in­vest­ment services through tech­no­log­i­cal and ser­vice in­no­va­tion.

With the val­ues which in­cludes pro­fes­sional, trans­par­ent and hon­est in busi­ness deal­ings and guar­an­teed ac­cess to the services any­time any­where as well as be­ing creative in adapt­ing to the needs of cus­tomers and de­liver services with qual­ity.

Hob­biton In­vest­ment Man­age­ment Lim­ited has the abil­ity to tap into ex­pe­ri­enced team of fund man­agers, in­vest­ment ad­vi­sors, fi­nance ex­perts and tech­nolo­gies to en­sure growth and sta­bil­ity of all as­sets un­der its care.

Par­tic­i­pa­tion of ma­jor­ity Zam­bians in both the cap­i­tal and stock mar­kets re­mains anaemic due to lack of mass ed­u­ca­tion. Gov­ern­ment trea­sury bills and bonds which of­fer a risk free re­turn on sav­ings has not been mar­keted and re­mains with a per­cep­tion that one needs to hold huge sums to par­tic­i­pate.

The Kenyan Cen­tral Bank has been an African pioneer in launch­ing an ex­em­plary drive to get their gen­eral pub­lic and mostly banks and mo­bile money ac­count hold­ers par­tic­i­pa­tion in both trea­sury bills and in­fras­truc­ture bonds.

The Bank of Zam­bia has of late showed some signs of en­cour­ag­ing lo­cal cit­i­zens par­tic­i­pa­tion via ad­verts mostly in Lusaka but there seems to be no clearly de­fined ap­proach and tar­gets set to bench­mark for what suc­cess in Zam­bia would look like.

Newspapers in English

Newspapers from Zambia

© PressReader. All rights reserved.