Africa Micro-Financing Cape Coast Ghana Saturday, August 19, 2006
Putting photos on the blog is work, typing about what I am thinking is fun.
Micro Financing is a new buzzword of the 80 percent normal planet, the normal under 10 dollars per day wages countries.
I am not sure how it works, but I guess the idea is to give very small loans to people starting businesses in countries that need more jobs to thrive.
Loan officers for the most are not too bright, they could not see a good business idea if it was offered by Warren Buffet. I think there are extremes amounts of money available in Africa, which could be loaned to Africans if it was a good idea.
This is essentially the problem with loaning money to people, 99 percent of the idea have zero creativity. Anywhere in the world, people are applying for business loans that is not a new type of business, just another person starting a laundry matt or another restaurant, not someone with a novel restaurant, just a twist of a the same idea. One does good and become a chain or franchise.
What is needed is Warren Buffet, and Bill Gates to come to Africa, roam around and think to themselves. IF I were living in Africa, what business would I start, if I wanted to invest in a business, what would this business be…? Entrepreneurial think tanks to make list of ideas for businesses that could thrive in Ghana or Africa, or South America or any place they complain and maybe need money; I am not really under the impression that these countries need money, the need the perception that they have a way to make money.
I see so many great money making ideas in places like Africa, the problem is I do not want to live in any of these countries.
Just yesterday I was in a store that sells illegal copies of movies, I purchased about 10 to watch, well 50 percent or 100 percent have a problem, and the quality of duplication is horrendously bad. I am only able to squeakily watch about 50 percent, the other 50 percent need to returned and replaced.
I can see that here in Ghana, making 100 percent good videos copies is and easy business to thrive in and grow, it is huge money. I think a person would have to open their own shops for distribution, because there is no quality control, I am sure when I return a movie the dingalings just put back on the shelf to try to sell again. There is ZERO moral responsibility to give a good product, the only goal is to sell the product and not have me beat them to death if they do not replace the defective.
This is where the money is located, in my culturally learned in the USA idea of caring about giving something of value in exchange for money. This small principle evades 80 percent of the planet. I was wondering to myself the other day, I have purchased a good pair of toenail clippers. The ones I have presently are great, they actually work. I need to test these devices before I purchase. However, the kicker is, why would a metal working company or factory tool up to make fingernail clippers that do not cut or work? It is a lot of work to make junk, the whole premise of their business is to sell something that looks ok, but does not work, I would consider this corrupt and they need to spend time in jail, they are evil people. No intention of selling a good product, only intention it to make the money.
Business on 90 percent of the planet is how can I sell you the minimums, and make the maximums. How little can I give and get away with it?
Letting a loser borrow money for their own ideas is crazy, they need to take some good minds, creative minds and find ideas outside the box they are living inside of and start business on the planet that are needed. Every country has good persons who have good ideas, how to find the one in a 500 is the problem in any culture.