Doing Life With… is a BellaNaija Features series dedicated to exploring the diverse ways people live, work, travel, nurture their families, and navigate life’s many facets. Our goal is to represent a wide spectrum of experiences, ensuring every voice finds a place at BN.
Missed our previous chat with Alexander Okeke? Catch up here.
This edition features Oluwatosin Olaseinde, the visionary behind MoneyAfrica and Ladda-two innovative platforms empowering Africans with knowledge on personal finance, savings, and investment strategies. Oluwatosin is renowned for breaking down intricate financial topics into accessible insights that inspire smarter money management.
Enjoy this insightful conversation!
Checking In: How Are You Feeling Today, Oluwatosin?
I’m truly grateful and energized. Each day, I engage in work that resonates deeply with my purpose, which brings me a profound sense of fulfillment and balance.
From Childhood to Career: The Journey That Shaped Your Financial Philosophy
Raised as the middle child in a family of five, I attended Queen’s College in Lagos for my secondary education. My early years were filled with the joys of childhood and a love for adventurous stories, much like those by Enid Blyton. Growing up in Lagos, attending a high-achieving school, and having intentional parents instilled in me a resilient “I Can Do It” mindset.
Later, I spent nearly ten years in South Africa, where I completed my A-levels, earned two degrees, and began my first job at 20. Despite a decent salary on paper, I lived paycheck to paycheck for four years without any savings or investments. Returning to Nigeria broke was a pivotal moment-it forced me to unlearn poor financial habits and rebuild my understanding of money from the ground up.
That experience reshaped my definition of success, which now centers on discipline, financial freedom, and security. These principles are the foundation of my work with MoneyAfrica and Ladda.
Identifying the Financial Literacy Gap: The Birth of MoneyAfrica and Ladda
Across Africa, many hardworking individuals struggle to accumulate wealth due to a lack of financial education and the discipline to apply it. Beyond just saving and investing, personal finance encompasses insurance, asset protection, and retirement planning-areas often overlooked. Alarmingly, studies show that nearly 60% of Africans risk falling into poverty after a single health crisis.
MoneyAfrica emerged from my personal frustrations and the urgent need to provide relatable, straightforward financial education. However, education alone wasn’t enough; many people grasp the concepts but hesitate to take the leap into investing.
To address this, we fostered a vibrant community of learners on MoneyAfrica, encouraging peer interaction and shared growth. Responding to user feedback, we launched Ladda, a platform designed to make investing accessible and secure for everyone-from those starting with as little as ₦1,000 to seasoned investors.
Recognizing the importance of early financial habits, we also developed MoneyAfrica Kids, a gamified app that introduces children to money management, capitalizing on research that shows money mindsets form by age seven.
Our mission transcends innovation; it’s about closing systemic gaps and empowering millions to achieve financial independence.
Dispelling Myths: What Misconceptions About Money Should Nigerians Let Go?
A pervasive and limiting belief is that investing is reserved for the wealthy. This mindset discourages many from starting their investment journey. The truth is, wealth accumulation is a gradual process that begins with small, consistent contributions.
I encourage especially young people to invest in the stock market over the long term, benefiting from capital growth and dividend reinvestment. Waiting for the “perfect time” often means missing out on years of potential growth.
Practical Financial Advice: How Much Should Someone Like Tolu Save or Invest Monthly?
While there’s no one-size-fits-all figure, a good rule of thumb is to allocate at least 20% of your monthly income towards savings or investments. For example, if Tolu earns ₦200,000 monthly, setting aside ₦20,000 consistently can lead to remarkable growth.
Assuming an average annual return of 10% in a diversified portfolio, investing ₦20,000 monthly over 45 years could grow to approximately ₦211 million. Notably, only about ₦10.8 million would be her total contributions; the rest would be compound interest.
Delaying investment by just a decade reduces the final amount drastically-to around ₦76 million-highlighting the power of starting early. Platforms like Ladda simplify this process by enabling automated, manageable investments, making wealth-building accessible to all.
How Has Your Understanding of Success Changed Over Time?
My early twenties equated success with financial comfort. Now, success is measured by the impact I create-how many people gain financial literacy, break cycles of poverty, and access tools to build wealth. MoneyAfrica and Ladda serve as catalysts for this transformation. Purpose drives me now, with all else following naturally.
Overcoming Obstacles: Challenges Faced While Building MoneyAfrica and Ladda
Trust was the biggest hurdle. Given Nigeria’s history with scams and failed investments, skepticism is understandable. We addressed this by prioritizing transparency, consistency, and education. MoneyAfrica offers free, practical lessons and shares authentic success stories, focusing on sustainable growth rather than quick fixes. Trust builds over time, and our commitment has fostered strong loyalty.
Words of Wisdom for Young Wealth Builders
My consistent advice is: “Begin where you are, with what you have.” A large income isn’t necessary to start investing. Many Ladda users began with as little as ₦1,000 monthly and are amazed at their progress years later. Early and consistent investing allows time to work in your favor.
The Most Valuable Advice You’ve Ever Received
The best counsel I’ve gotten is that “Money is a tool, not the destination.” It should be used to create freedom, options, and security, but never define your worth.
Investing in personal growth yields exponential returns-every naira spent on self-development can multiply your earning potential dramatically. Treat yourself as your greatest asset. Also, prioritize health; it’s the foundation of wealth. Avoid sacrificing well-being for career gains by maintaining balance and securing comprehensive health insurance.
Finding Joy Beyond Finance: How Do You Recharge?
I cherish simple, grounding activities: spending quality time with family and close friends, taking reflective walks, and exploring diverse topics through reading. These moments nurture my creativity and perspective. I’ve learned that rest is essential-it enables me to fully commit to my mission.
A Day in the Life of Oluwatosin Olaseinde
My days vary, but typically begin with quiet reflection-journaling, prayer, and exercise. Mornings are reserved for focused work on strategy, content creation, and analyzing insights for MoneyAfrica and Ladda. Afternoons involve team meetings and engaging with our community. I dedicate time daily to learning about fintech innovations and investment trends. Evenings are for family, relaxation, and recharging. Intentional time management is key to maintaining balance.
Embracing Growth: What Are You Still Learning?
I’m working on trusting my team more and delegating responsibilities as MoneyAfrica expands. Additionally, I’m becoming comfortable with increased visibility, understanding that sharing my story is vital to inspiring widespread financial literacy and investment.
Thank you, Oluwatosin, for sharing your journey with Doing Life With…
Thank you for having me.
Special thanks to Oluwatosin Olaseinde for this engaging and prompt conversation.
If you enjoyed this feature, have feedback, or want to contribute to BellaNaija Features, we’d love to hear from you. Reach out via email: [email protected]. Stay tuned for our next episode this Saturday!
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