September 2020


Over the past years, African equity exchange-traded has risen considerably, and being a resource-rich continent increases the middle-class demographic. Africa is becoming one of the largest emerging economies, and it’s being predicted to become the largest market in the world. In recent years Africa indeed did face hits economically as well as politically. And if you wish to know more about this country, then you should check out some of the best African documentaries that explains everything you never thought of Africa. But the prediction of the growth has not been proved to be false due to these factors. And in this article, we will discuss some of the positive indicators that prove that you must invest in Africa.

  • Young And Growing Population:

With a population of more than 1 billion and is expected to get doubled up by mid-century. While most of the countries are getting aged and have less potential in the market, on the other hand, Africa is young and has many opportunities left to explore. And according to the expert’s study in investment markets, the global workforce may be shrinking in the future, but in the case of Africa, it is expected to grow and will surpass India and China. Moreover, Africans also have consumers who want all the latest updated tech-gadgets.

  • Customers Are Changing:

With the growing economy of Africa, there has been a significant development, and expectations have increased. Education and urban professionals are more aware of the current brands and have become quite selective when it comes to consumption. You can look at best African documentaries such as The Square to know more about how people have the power to change everything.

  • The Economy Is Getting Strengthened And Diversified:

In recent years, there has been a considerable growth downfall in exports of oil, but the rest of the product is still growing. Countries are not solely dependent on the oil resources for their economic growth. Typically, smaller economies are progressing towards economic reform and giving competitiveness to others in the market. African countries are driving to diversify beyond commodities.

  • Money To Spend And Love For The Major Brands:

African consumers are increasing rapidly and spending trillions of amounts in a year for branded consumption.

  • Digital Transformation:

Africa is one of the leading countries to adopt mobile, which offers the biggest cross-sectoral economic opportunities. Most of the companies are using mobile networking and digital technology to maintain their supply chain. Consumers have moved towards digital payment rather than using cash at hand.

Is your credit rating poorer than you expect? Are licensed moneylender Singapore firms reluctant to extend you offers on favourable terms? If so, it may be due to bad monetary planning on your part. When individuals have poor monetary management habits, your credit rating tends to take a hit as they are less proven to be able to manage their finances. Consequently, there is a real risk of you forfeiting on any loan that is given to you.

What is monetary planning

Monetary planning is a need for every person. It is essentially holding aside a quantity of cash for a specific objective or purpose. One of the most basic kind of monetary planning is to accumulate up your cash in a piggy bank. What we would normally do is to open up a bank interest-bearing account.

Other ways of financial planning are to commit to a retirement, universal basic income, education fund, acquire insurance (life, medical, building, automobile, company), purchasing real estate, stocks, unit trust or gold, begin a business and also to get a house or automobile.

The objective of monetary planning is to make certain that not only do you save up adequate cash to accomplish your objective yet also it is to make certain that you have adequate money left for your daily requirements such as working out expenses and purchasing groceries. We have compiled the leading 5 reasons you require to have a monetary strategy.

Know your priority

Once you have a clearer idea of your monetary tasks you need to start making out a checklist of points to focus on. Make sure that your energy bills (electricity, water, rent), groceries and other financial obligations (insurance coverage, debit card, earnings tax obligation) have been settled.

Next, you should decide how much of your earnings to accumuldate up on a regular monthly basis. In general, it is much better to accumulate up as much of your revenue as feasible. When it concerns shopping and making buys for recreation objectives, try your best to purchase within your limits and only if it is truly required.

Financial investment

It might be time to start believing regarding financial investments when you have grasped the art of managing your money. Since you have saved up some money the following step you might want to think about is exactly how to utilize your savings to produce revenue.

Fixed Deposits

One such investment that is fairly low risk is a fixed deposit. Just make certain you have researched which bank provides the best rate of interest on return and also the duration of the tenure.


Purchasing realty is also a great way to make your cash grow. Be it a house or apartment that you can lease out of develop into an Airbnb or a business shophouse that you can rent to organisations.

Fintech or economic technology is a business on the rise.  Although the economic facility space was once conquered by a traditional banking organization, there has been a rise in a smaller company using knowledge to create place solutions in cyber-security, online payments, market communications, and more.

In the recent years have appeared as a center of excellence for EasyFind Fintech Singapore startups. We have a fashioned guide as an introduction to the ecology, which we expect will be an expensive guide to those looking to find a lay of the land.

New career chance for Singapore’s fintech sector

Singapore fintech compact is still on the follow for ability as more customers switch to using the online financial facility and the management steps up its help for the segment. Some fintech, mainly early-stage businesses, are logically facing funding confront in the current situation. Others, but, are in search of new market chance and are make jobs for the finance-sector contestant who want to move out of usual banks and into stimulating and new fintech roles.

Some fintech, as well as a digital depository, can potentially get the benefit of the increasing digitalization drive take about by changing customer demand throughout Covid-19. Quick fintechs may be able to put new things to the marketplace more proficiently than great firms that are disadvantaged by legacy knowledge.

How to get a personal loan in Singapore?

Our services support you successfully control your finances. You can be secure that we will present the greatest package at the lowly interest rates likely to meet your economic needs. Whether you desire to get a new car, seek to recompense for your daydream marriage, or take charge of your teenager college fixed cost, fast cash can help. Whatever your economic quandary, we are prepared to meet your wants in a fast, efficient way. With us, there is no require to pressure about too much interest rates, as we present some of the less in Singapore.

Applying for a personal loan Singapore is simple with us. We propose our facility to Singaporeans and the foreign person with official passports. We offer finance at some of the fewer interest rates in the area and are self-important to provide our customers with a flexible refund period. Instead of making difficult demands like other finance providers, we will build planning to provide you with a stretchy repayment period to meet your economic requirements.

Affluent individuals living in the United States often use a U.S. revocable living trust (RLT)for estate-planning purposes. Such a trust provides confidentiality and flexibility in how assets are managed, as it eliminates the specter of probate.

A revocable living trust is transparent for U.S. income, gift and estate-tax purposes. The individual who transfers (settles) property to the trust is also its trustee and beneficiary. The trust is considered a U.S. grantor trust, which is ignored for U.S. income tax purposes. All income, losses and expenses are claimed on the individual’s personal U.S. tax return.

Moving to Canada: Canadian tax issues and administrative burdens

For individuals moving to Canada (both Canadian and U.S. citizens), continuing to hold a U.S. RLT will present tax and administrative challenges. Under Canadian tax laws, once the trustee(s) become residents of Canada, the trust will be considered a separate taxable entity and will be treated as a Canadian resident trust. This will then require the trustee(s) to not only file a Canadian Trust return but also to pick up all of the income earned by the trust on their personal Canadian and U.S.  tax returns.

Although foreign tax credits can be used to reduce and/or eliminate double-taxation issues, continuing to hold the U.S. RLT complicates tax filings. Further, the trust would have both a Canadian and U.S. cost basis that would have to be tracked and reported. The Canadian basis would be equal to the value of the assets within the trust on the day the trustee(s) moved to Canada. The U.S. cost basis would be equal to the original value of the assets at the time they were acquired.

In some cases, an exception exists under Canadian tax law that allows the taxpayer to deem all the income and capital gains/losses associated with the trust property as taxable to the taxpayer as an individual, effectively making the trust disregarded for both U.S. and Canadian tax purposes. Under this exception, there would be no double taxation on income earned by the trust during the taxpayer’s lifetime.

Double Taxation at Death

Double taxation issues become a greater concern if the trustee happens to die as a Canadian resident after the trust had been in existence for 21 years. Under this scenario, the trust would form part of the trustee’s estate and, depending on the size of the estate, U.S. estate tax could be payable. In Canada, the trust would also be taxed once the assets were soldon or after the 21st year anniversary of the trust. There would be no foreign tax credits available to offset these two taxes, which could result in double taxation.

Subject to Canadian departure tax

Meanwhile, U.S. citizens temporarily living and working in Canadacould be subjected to departure tax on their trust when they return to the United States. U.S. citizens are afforded a five-year period (See article: “Americans Exiting Canada: Understanding the Five-Year Deemed Disposition Rule”) living in Canada in which they are not subjected to Canadian departure tax upon a return to the United States. As stated earlier, because the trust is considered a separate legal entity from a Canadian tax perspective, it would not be granted the same five-year exemption from exit tax because itis not a personally owned asset.

Financial institutions unable to hold or administer trust

An additional complication, unrelated to the tax issues outlined above, is the fact that most U.S.-based financial institutions will not hold a U.S. RLT once the trustee becomes a resident of Canada.

Most U.S.-based financial institutions are not registered and licensed to oversee a taxable (or trust) investment account on behalf of a Canadian resident, even if that individual is a U.S. citizen.Many individuals try to get around this regulation by registering the U.S. RLT to a family or friend’s U.S. address. Not only is it illegal to misrepresent your residency, but it could also create tax issues because the IRS and state will continue to receive tax slips showing you live at a U.S.-based address.

Although it is a great estate-planning tool for those residing in the United States, a RLT presents many tax and administrative challenges once you move to Canada. For those individuals intending to live in Canada for the foreseeable future, it would likely bewise to unwind the trust structure before or soon after arriving in Canada. This would prevent any adverse Canadian income-tax consequences.At Cardinal Point, we assist individuals and families moving from the United States to Canada with their financial, tax and estate-planning needs. If you are moving to Canada and own a U.S. RLT, we can advise you on whether it is in your best interest to keep the entity intact or close it down.

Payday loan companies offer short-term loans at extortionately high interest rates for those seeking a quick fix for financial difficulty or desperately in need of money for some reason or another. The practice has understandably come under much controversy and criticism however, due to the unaffordable nature of the extremely high interest rates exercised. With the reputation of payday loans somewhat damaged, this article will explore whether the controversy – although understandable – is justifiable.

The Criticisms

Payday loan companies are known to offer interest rates of up to 2000%. This is in itself the main reason behind the scrutiny faced by payday loan companies, with the firms involved accused of fixing unaffordable interest rates upon desperate borrowers. The reality behind this needs to be told.

In 2010 the Archbishop of Canterbury called for payday loan company practices to be put under urgent review, in regards to the rates charged by doorstep lenders. Rowan also praised the work of Debt on our Doorstep, another group lobbying for action against payday loans.

Anger over internet short-term lenders has been somewhat prevalent over the past couple years in fact. Recently, Red and Black – the ITV show presented by Ant and Dec – faced a wave of criticism for being sponsored by payday loan firm Wonga. Under scrutiny for misleading and aggressive debt collection methods, Wonga were also the object of a protest campaign to prevent their services from being advertised by the English Football League. As a result of this campaign, Premier League and Football League clubs announced that they would no longer continue advertising for Wonga on their websites.

Of course, people should find a financial adviser if they don’t believe they are in a position to make important financial decisions on their own. The issue with this idea is that those who need financial advice the most simply cannot afford it. Financial advice is usually not available for less than £500. This keeps this invaluable service out of reach of most people who would normally be turning to PayDay loans to make ends meet.

The Opposing View

The criticisms against payday loan companies refuse to accept a simple reality behind the matter however: that those choosing to borrow off payday loan companies, do so at their own whim and do so – or at least ought to do so – in full awareness of the nature of their loan.

It is our responsibility to know the risks of payday loans, and indeed this enlightenment is made easier through payday loan companies being obliged to boldly advertise the interest rates on offer.

Most payday loan borrowers are aware of the risks involved with payday loans and one must therefore ask why they would then choose to go down such a route. The answer is simple.

Desperate times call for desperate measures, and people who choose to borrow off payday loan firms do so out of desperation. Indeed the only other alternative for many of these people is to suffer due to their debt or borrow off a loan shark. While borrowing off payday loan firms may not be ideal, when put alongside extreme financial difficulty or loan sharks, I know which route I’d rather go down!

Speaking of loan sharks, the differences between these and payday firms must be emphasised, as the two have wrongly been put in the same basket by a number of critics.

Loan sharks operate outside of legal confinements and use horrid techniques such as the threat of physical or sexual violence to ensure repayment. Payday firms are nothing like loan sharks, and if anything they reduce the prevalence of loan sharks through giving people a legal and safer alternative.

The controversy and criticism surrounding payday loan companies is understandable.