Just a Question

T

The.Black.Templar

Elder Lister
Staff member
Do you think south african banks would have funded Elon Musk had he remained in Africa? Just How many trully African Dreams and ideas have banks killed?

I understand at some point all loans applied at Barclays had to be approved in SA?

Just wondering!

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The.Black.Templar said:
But would south african banks have funded him? Do african banks fund innovation anyways?
Click to expand...

My answer remains the same.

Even locally, we have banks giving ridiculous loans to people born in rich families with the right or semi-right skin colour.

There used to be a program that was aired on Farmer'sTV and I don't know why it went dead. They'd show "entrepreneurs" doing all sorts of weird little useless projects which already exist but the only difference was that these particular people were either white or half white. There was a guy who had been funded by Barclays to start a massive glass blowing and related products 'shop' and he said he got the idea when he saw how popular glaas beads were especially because of jewellery being sold by Kikopey. Another one was running a biashara based in making special jikos which use specially made coal, also made at his factory, and sold exclusively to this interested in saving the environment. He was keen on building large pizza ovens for interested parties because he felt that the rustic feel also adds to originality for this businesses. Fully funded by a bank, I don't remember which ... I think it was CBA...

These are just two examples and the reasoning behind funding such projects was explained away as "supporting growth of ideas" and "saving Africa, one project at a time".

I watched a handful of those episodes and never once saw a 100% negro face.

I'm jus' sayin' ...
 
Nefertities said:
My answer remains the same.

Even locally, we have banks giving ridiculous loans to people born in rich families with the right or semi-right skin colour.

There used to be a program that was aired on Farmer'sTV and I don't know why it went dead. They'd show "entrepreneurs" doing all sorts of weird little useless projects which already exist but the only difference was that these particular people were either white or half white. There was a guy who had been funded by Barclays to start a massive glass blowing and related products 'shop' and he said he got the idea when he saw how popular glaas beads were especially because of jewellery being sold by Kikopey. Another one was running a biashara based in making special jikos which use specially made coal, also made at his factory, and sold exclusively to this interested in saving the environment. He was keen on building large pizza ovens for interested parties because he felt that the rustic feel also adds to originality for this businesses. Fully funded by a bank, I don't remember which ... I think it was CBA...

These are just two examples and the reasoning behind funding such projects was explained away as "supporting growth of ideas" and "saving Africa, one project at a time".

I watched a handful of those episodes and never once saw a 100% negro face.

I'm jus' sayin' ...
Click to expand...
What we may have overlooked is banks lend to people they know they can get money back from.
That is in Kenya especially, they aren't in the business of banking on innovation and all.
Lazy banks want to make money without risks.
 
Anglututu said:
What we may have overlooked is banks lend to people they know they can get money back from.
That is in Kenya especially, they aren't in the business of banking on innovation and all.
Lazy banks want to make money without risks.
Click to expand...

And unfortunately, they have more confidence in people who belong to a certain strip of colours on the pallete.

If you're 100% nyeuthi and you come up with an idea which is all yours and takes a bit of "faith" on their part to fund, then you need to be within some circles. For example, i can bet you a million bucks that if Sharon Mundia came up with a line of something like dieting products or natural products for African hair and/or skin, she would be very well received and supported by our banks but if the same idea was floated by a "nobody" who has not grown up rubbing shoulders with that certain crowd, they'd be rejected without a second glance.
 
Nefertities said:
And unfortunately, they have more confidence in people who belong to a certain strip of colours on the pallete.

If you're 100% nyeuthi and you come up with an idea which is all yours and takes a bit of "faith" on their part to fund, then you need to be within some circles. For example, i can bet you a million bucks that if Sharon Mundia came up with a line of something like dieting products or natural products for African hair and/or skin, she would be very well received and supported by our banks but if the same idea was floated by a "nobody" who has not grown up rubbing shoulders with that certain crowd, they'd be rejected without a second glance.
Click to expand...
Correct, you explained what I was trying to say very well.
 
banks in africa don't trust africans in africa who come up with ingenuity weather you are white or black,but if the project is to give them exposure and returns then possibilities are endless
 
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