If you're a small, unfunded African entrepreneur, you'll always have
Parisian crowdfunding;
BlueBees specializes in entrepreneurs from developing countries,
bringing them together with investors from Europe. "Jacques Georges [Badjang] is a
really serious entrepreneur," said Emmanuelle Paillat, managing
director of BlueBees. "He needs us, because he has no access to the
banks. In Cameroon, they would ask him for surety and he can't provide
it - despite the fact that his firm has been in existence for ten
years," he said.
"Les Mielleries" was BlueBees' very first project and was launched in
the spring of 2013. Badjang borrowed 20,000 euros ($26,900) for his
honey business from more than 100 creditors.
It was a worthwhile investment for all involved. After just six months,
Badjang had paid back the loan -- plus ten percent in interest. One
percent went to the BlueBees platform.
Good time to re-read Robert Shiller's
Finance and the Good Society.
What selfish investing. The investors got a measly 10% gain, and the beekeeper expanded his business.
ReplyDeleteBut, if the investors had spent the cash, Keynes says that 5 times that amount of productions would have been produced, somewhere, somehow.
When will ecnonomists wake up. (sarc)