At least 300 youths in Mombasa have been equipped by skills and knowledge in forex trading to gain financial Freedom.

The youths, who gathered in a one-day summit at City Blue hotel organized by a Foreign exchange company broker called FX Pesa, were a representation of many youths in the country with a huge gap on the knowledge of earning, saving and investing money.

Speaking to the media during the summit, FX Pesa Market Analyst Ruphas Kamau  said that through the knowledge on the concept of online trading, many people especially the youths are able to gain access to global financial markets to invest and boost the economy.

“A lot of youths are caught up with debts, they have mobile lending Apps where they borrow and are unable to repay. We are here to help them understand their finances, understand how they can recover and pay those debts.”

He said that many of their clients come from Mombasa region owing to the fact that the region’s economy depends on tourism, which is seasonal and often affected with pandemics such as COVID.

“There is a lot of economic challenge around Mombasa, one of them being COVID, having to depend on tourism hence we are offering an alternative consistent income by investing in the global financial markets”, Kamau said.

He said that online trading therefore comes as an alternative to offer consistent incomes to the participants.

Ryan Aziz however warned people to be aware of the online trading platforms that are not regulated in order to avoid being scammed while clarifying that FX Pesa is a regulated company in the global financial market.

“A lot of individuals intend to venture into trading with a mentality of gambling and try to relate trading with it and that’s how they get scammed.”

“You should  rely on a broker who is regulated which is fx pesa”, he added.

Ann Mwende expressed her satisfaction after gaining knowledge on exportable skillset in Forex saying that she now has more employment gain and entrepreneurial skills boost.

“I have learnt a lot from fx pesa and believe that I will grow in my finances. As a youth I’m desiring to grow and have much more a part from what I’m earning now.I would want to tell others that there is much more out there so let’s all get to do other side hustles”, Mwende said.

She added that she is empowered with skills to earn more money, which will help her not only grow as an individual but also boost the country’s economy.

Peter Odhiambo, an attendee of the financial literacy summit told the media that many youths are being faced by the challenge of earning and those who are lucky to earn some money lack the knowledge on how to invest.

He lauded the company for providing an opportunity for the youths to get into the global financial markets.

“We face challenges when it comes to investment since we don’t know what it takes and what plans one has to take into consideration when one wants to invest”, Odhiambo noted.

“Every investment is dangerous when you do not have the right knowledge ,one has to take time to learn,educate and invest in yourself”, he added.

He urged his fellow youths to move out of their comfort zone and engage themselves in online trading to relieve the financial chains burdening them.