Sometime ago about 5 years back, I was approached by a team of student who wanted me to write a proposal to a named benefactor requesting for a non interest loan. These guys were top in their class breaking every record known to the institution. The final year came and they had to write their project to make a practical model to display for an aerial drone which when finished would not only give them good grades but also see investors falling over themselves to clinch the documents for their prototype.
It seemed a pretty idea. A non interest loan was also a safe way to go about since the benefactor wouldn't loose out entirely should in case the project goes sour. However, the non the absence of interest was replaced with giving him credit alongside this nerdy dreamers should the project become a success, these credit would also make him a major stakeholder But first he had to play his part by trusting a couple of students by parting with a sum to build something the student hadn't done before. On the side of the promising students, they had to ensure everything went according to plan and it was a success because the collateral they presented barely covered the expenditures from the loan but they were backing this up with credit worthiness of goodwill and good name.
Well we wrote the proposal, had it vetted by other lecturers to make sure it was perfect and up to par still they didn't get the fund. It was too big a risk for the benefactor, he lacked the benevolence to key into the dreams of the yearning aspirations of this students. Some would think him shrewd businessmen for counting his losses before it even occurred. This is the case of Africa and productivity. With many who fall into the elite class and in the position to fund projects that ought to add value to African states, they tend to shy away from this responsibility.
Image Source
In the advent of the current evolution of money whereby the IMF is looking into cryptocurrencies, how can Africa stand shoulder to shoulder with its sister continents on economical relations without financial pillars to pull us up? I have been and still is passionate about African youths lining the streets with so much potentials but lack the right motivations.
Image source
Today with Hive giving a fair gateway to the world of cryptocurrencies, anyone with the right contents can start a financial evolution in crypto. Yet Africa still hasn't recorded any account large enough to be in the category of whales. Throughout the growth of Hive, no proposal has been written or funded from our shores. We need big investors from Africa to onboard and pump fiat money into their accounts, support and fund projects to support the African communities and ultimately our native currency. The Nigerian community Hivenaija is being supported and funded by people outside the African shores in far away Mexico, United Kingdom and Venezuela.
The current price should be the All time low for hive and hence the best time to build an African structure ready to welcome more owners. I wish all hands can be on deck to make the onboarding of new minnows encouraging to hold, keep and nurture them.
Cheers!!!
