Development Requires Growth in the Right Direction for Sub-Saharan Africa

Every victory, no matter how small, is indeed a victory. However, small victories lose their sweetness after awhile. After decades of innovations, development schemes, variations of aid, and pressures on infrastructure, the most sub-sahara Africa can boast about is even managing to stay afloat, much less sail.

Small-scale endeavors, such of that from Grameen Bank, has brought independence through micro-financing to the region. Grameen Bank works to reform and makeover conventional banking practices throughout the world, with a special focus on developing nations. Grameen has thrown the banking industry for a loop by doing away with collateral on loans and emphasizing mutual trust between the bank and its customers.

Grameen Bank founder, Mohammed Yunus, has worked to spread mobile technology throughout the nations, in an effort to build a big castle out of small stones. Yunus seems to cling to this idea that many small efforts, many small projects, many small acts everyday, will build upon each other to create something monumental.

Therefore, Grameen is acting almost as an angel investor–divvying up lump sums to small start-up companies in hopes that a little will go a long way as long as there are no strings attached.

Grameen Bank plays with some of the heaviest hitters in aid and developing country interest; such as The Bill and Melinda Gates Foundation. However, while Yunus has created relationships with foreign aid big-hitters, he also has established connections with the governments of the nations that he seeks to have impact on–such as Ghana and Kenya.

Through projects that emphasize current global market trends and the global culture–such as mobile technology and agricultural market opportunities with mobilization technology, innovation is finally taking hold.


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