Africa

Bill Mundell addresses the president of Nigeria and the invited dignitaries and guest at the Waldorf Astoria in NYC during the Nigerla Meets The World conference September 24th, 2007.

There is a Credit Crunch In Africa today. A burgeoning entrepreneurial class has emerged but lacks access to credit. No country in the world has succeeded in creating long lasting dynamic growth without funding and supporting its entrepreneurs. It is imperative fill the credit vacuum in the African banking system—where on one end of the ladder, there are the recognized micro credit offerings, and on the other financial products offered to major companies to cover export credits and standard financial services. We must foster a distinct specialist banking group focused on the emerging middle class for consumer credit, and also serving African entrepreneurs with financial means, with venture capital type services.