African Mentality On Borrowing Money

Posted by: lukwago J in Business December 19, 2020

It is a very sad that 99% of our people in Africa are not honest when it comes to borrowing them money. For the past decade, I have been disappointed by many people that I tried to help financially. I lost friends due to their dishonest.

If a person comes to me and say, ” I have a good business plan, I have been trying to do this and that but I have financial challenges, if only you may borrow me just a certain amount, my business will make good profit and I will return your money” When I agree to help people I used to give them at zero interest and very good payment plan over a period.

Very disappointing, the person will fail to pay back the money, the business will fail again. Nothing will come out of that business. The person will avoid you. To an extent of never answer your phone calls. I will become a great enemy.

I reached a point where I realized that borrowing a friend some money for what ever reason is the most bad idea ever because that friend will fail to pay back, that friend will hate you to an extent of never want to talk to you.

This is my resolution now, I will never ever ever listen to a person that comes to me and say I need financial help to start a business. Any person who needs financial help to start a business is not serious.

A serious person who wants to start a business doesn’t look for money but looks for knowledge.

Knowledge on how the business is done and how to make money. When they have the knowledge, they fund their ideas themselves and grow. Such business will not easily collapse.

Another person once said, how can I start a business without money, I said raise money from what ever you have. Sell that mobile phone you are using to browse useless things over the internet. Sell your favorite suit or work those odd jobs to get starting capital for your business.

I had to work as a Herdboy, construction labour in order to raise my starting capital. It was never given to me.

If you ever see yourself looking for starting capital or want it to be given to you, I would say just forget about business. You better start looking for a job because you are not good enough to be an entrepreneur.

I say these words with boldness after trying to help hundreds and hundreds of people by borrowing them starting capital that was never returned and those businesses that I funded never grew.

Anyone who will ever come to me asking for starting capital just know that the answer is a big NO. I would rather have you hate me for refusing to help you than have you hate me because you failed to pay back my money.

I will only entertain those who come for business advice not those who come for money. Serious entrepreneurs must wake up. Don’t be lazy and never want free funds. Money must not be given, it must be earned.

By B. Marambire

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