Director of Business Operations at the Dalex Finance, Joe Jackson has advised the general public not to go into long term banking investments at the moment as the COVID-19 pandemic wreaks havoc on the economy.
He explained that the investing public can wait until there is calm in the economy to do that kind of investment.
He also appealed to investors not to panic over the dangers posed by COVID-19, explaining further that “it has to get worse before it gets better.”
Mr Jackson told TV3 Friday April 17 that : “Don’t panic. The economy may look worse before it gets better but we will go through this.
“You should not just cash out on your investment simply because you are afraid.”
He added : “Ensure you have enough cash at least for three months. I mean you have enough cash either in your mobile money wallet or you have enough cash your bank account that you can retrieve with an ATM or likewise.
“Keep the rest of your available funds in a fixed deposit account that you can redeem them when necessary.
Don’t go into a long gestation investment, wait till there is some sort of stability and calm in the economy before you make any long term investment.