The Economy & Our Personal Finances with Chinwe Egwim – Smart Money Africa
Welcome to the Smart Money Tribe Podcast with your host Arese, the founder of smartmoneyafrica.tv and the author of two best selling personal finance books; the Smart Money Woman and the Smart Money Tribe. This podcast will include money conversations for African Millennial women and will focus on personal finance, business finance, lifestyle and the economy. On our podcast you’ll get a mix of no nonsense discussions with real women and entrepreneurs who are making a real impact in their industries. Find out how established and emerging female entrepreneurs, authors, business women, and other inspiring leaders manage their money, create good money habits and more. Join us as they give us insight into their career journeys and we learn real ways to get, keep and grow money In this episode Arese shares how comparison is killing your budget and strategies to improve your financial health.
Episode 10: The Economy & Our Personal Finances with Chinwe Egwim
Chinwe Egwim is an active member of the Africa Development Bank meeting and a fixed Income specialist. Chinwe Egwim sat down with Arese to talk about Nigeria’s fiscal outlook for the year 2021. She is an economist, who has made it a mission to break down how larger economic events will affect our pockets.
Chinwe’s undergraduate journey began with her interest in engineering and actively sought to pursue a path in that regard; her father’s intervention changed the course of her life when he registered her for an undergraduate course in Economics. After her time in school she secured employment at the Central Bank of Nigeria where she was able to cut her teeth in the Bank’s research department under Fiscal Policy. As a young lady she had the privilege to learn from former Governor of the CBN Lamido Sanusi and the current President of the World Bank- Dr. Ngozi Okonjo Iweala; at least from a distance and this helped to shape the trajectory of her career.
The conversation shifted to current fiscal policies by the Federal Government of Nigeria and the expected loan restructuring that will take place as a result of the COVID-19 Pandemic. They discuss the various government intervention programs that seem all but visible to the naked eye, Chinwe believes they are all around and available to be taken advantage of. In her words, “What they need is there but they don’t know where it is”
According to Chinwe, the constant dependence on oil as Nigeria’s main source of foreign exchange leaves the country in a deficit. As the conversation went on Chinwe and Arese both come to the conclusion that, Content in terms of Entertainnment (Music & Film) using the power of the Internet and potentially agriculture will be the new sources of Forex, as Entertainment returned a higher contribution to the Nation’s Income in 2020 according to Chinwe.
As a fixed Income specialist Chinwe sees a trend of the central Government spending on re-curring expenditure in its budget. The conversation proceeded to touch on the Government recent trends and policies that concerning Foreign Direct Investments into the country and the structural deficits that Investors know that, “Nigeria is open for Business” citing the propaganda surrounding MTN Nigeria’s listing on the Nigerian stock exchange.
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