EDC MD talks financial success on Y Leaderboard Series

Managing Director of Ecobank Development Corporation (EDC) Investments Ltd, head of Business Development of the Asset Management business of EDC, and board member of the EDC Ghana Balanced Fund, Paul Kofi Mante, has shared his financial knowledge with the distinguished youth of Y107.9FM on Ghana’s premier and most listened to youth inspiring programme, the Y-Leaderboard series.

Speaking with host, Rev. Erskine, he shared financial tips, stories about his childhood, his early school days, family and upbringing, religion, through to his life as a financial expert, among other things, all as part of the agenda to inspire the youth on the show.

Speaking on religion, he observed that although religion is a great guide in life, a lot of religious people, especially the young have become lazy by hiding behind religion.

According to him, some religious folk have developed the mindset that their future does not depend on grades and he nearly fell for that mantra until he accidentally found himself at the ‘Winning Ways Conference’ in 2000 where the late Myles Munroe gave a good message about praying for and imagining things to happen while backing it with maximum effort which changed his outlook on life.

He shared an instance of how that principle benefitted him in life even after bagging his first degree. He revealed that when studying for his second degree, he told his wife he was going to graduate as the overall best student even though he was working full time and had a young family to take care of. Guided by the principle, he wrote 18 papers in 2 years and had A’s in all of them.

Paul, per this, advised young Christians not to hide behind religion and be mediocre, but to push themselves to the limit and apply themselves to excellence as it is always achievable.

The MD shared an analysis he has made over time on why many find it difficult to attain financial independence and per his deduction, many people fail to invest because of a flawed mindset that investing is impossible. “It is just a mindset where people think that it is not possible. One of the biggest things I keep hearing is the salary is not enough.

I have met people who earn 40,000 Ghana Cedis and still say the salary is not enough. It is the mindset. We just need to believe that it is possible and we will build up little by little. It is not going to happen overnight”.

The financial expert advised that for one to be financially independent, one has to have a definite, consistent plan on how much he or she wants to make in the next years to come, and recommended a minimum saving of 20 percent of one’s salary every month.

Paul Mante further advised the youth to set their goals right as success in life is never measured by one’s material possessions such as cars and mansions.

In his opinion, we can only measure success from the perspective of our influence and the lives we touch and only when one is able to impact the lives of others can he or she refer to him or herself as successful.

“Success is about giving back. It is about dying empty. It is about the lives you touch and how many people's faces you put smiles on. I think the houses and the cars are minor. You can inherit them. If your father is rich and he gave you all the mansions and the cars, then what?” he rhetorically quizzed.

Programmes Manager of Y107.9FM, Eddy Blay, grateful for all the knowledge he had gathered from Paul Mante on the Y-Leaderboard Series, said, “This, certainly, has been one of the most insightful interviews we have had and as I have taken lots of life tips and financial tips, I know our listeners have done same and I cannot wait to see it manifest in people’s lives out there.

Paul Mante is a great financial coach and I’m happy that we got to tap into his knowledge and get to know him better on the soft side”.