Wednesday, October 27, 2010

Multitude approach to develop the African continent from its roots up

Over the past few weeks a fascinating discussion has been taking place in the LinkedIn group, ‘Africa - All Things Business’. The discussion thread was started by Paul Kibuuka. It has focussed on ‘Africa’s Greatest Strengths’ and to date it has attracted 230+ contributions.

The group is made up largely of professional and business people with close links to Africa, and as the thread has illustrated ... a great deal of love and passion for the continent

The highly perceptive posts in the thread have effectively begun to develop into a SWOT analysis of Africa. It has provided participants with a glimpse of the magnitude of the problems faced by the continent and her people. At the same time it has revealed massive opportunities for those with the foresight to recognise them ... and the vision to realise them.

During the course of the discussion a number of suggestions were made as to how the situation could be turned around. It is critical that this time the ordinary people of Africa get to reap the benefits ... and not only the ruling-class elite who have to date largely continued the colonial tradition of leeching the continent dry.

It was agreed that for the continent to compete successfully on the global stage, it must not only explore new avenues of opportunity and new ways of doing things ... Africa in fact needs to completely reinvent and reposition itself.

Being a ‘business’ group, one issue that predictably surfaced was the difficulty that entrepreneurs (with bold, original ideas) experience when attempting to source funding for innovative new projects.

I proposed a solution to this problem to the group in the form of a DIASPORA BANK ... in essence a bank funded by the 60 million-odd displaced Africans around the globe with the express aim of financing disruptive new business ventures that would ordinarily struggle


By Ian Bentley

This anouncement was first published on SICU HUB.