Africa: Engage the Poor in Business

Tuesday, September 25, 2007

AfricaNews – I look at micro-financing as building entrepreneurs and funding small business in a community that belongs to a category which are living far less than $2 a day and that includes most parts of Africa. A lot of organizations, including the private sector, send assistance to nations belonging to this category, but still, poverty is not resolved.
As an artist and a banker, my view is that poverty can be alleviated, if not completely abolished by micro-financing, or partnering with entrepreneurs so that they can raise money on their own.? In this way, the poor will be actively engaged and eventually build the desire to improve their small businesses to gain more capital.

Also, the companies can also earn profits by funding or providing products and services to micro entrepreneurs.? Africa has so much to offer, not only the people and its talent but also on natural resources that it will become a waste if no attention is given and issues are not addressed.

Sustainable development for me is critical to poverty alleviation by means of micro-financing in Africa.? By treating entrepreneurs as either a market or a business partner, it does not only boost capital on hand for them but also, it boosts self-esteem that them too can join, do business and partner with one another.

This lessens the dependency trap where communities are reliant on aid from various sectors. With micro-financing available to a community, it trains them to become independent and self sufficient. On the other hand, in the social context, it gives them a sense of self—especially to women that not only they can do child rearing but also they can do business as well along with their male partners and to other communities nearby.

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Source: Afrika Nieuws (link opens in a new window)