A Better Strategy - The $95 million South African SME fund
Quote from Ndubuisi Ekekwe on April 1, 2019, 10:16 AMNigeria should consider having a fund that is similar to this South Africa's $95 million fund, reported by TC Daily/Forbes. The South African strategy of investing via funds mirrors my suggestion over Nigerian government doing this directly, as we did, and largely wasted resources through YouWin. When government disburses funds, the chance of recovering the monies for future entrepreneurs is zero. But when executed through funds, there is a higher probability.
South Africa's government has launched a $95 million fund to support SMEs and startups. The 'SA SME Fund' will support SMEs with turnover between $1.40 million and $35.23 million. It will support 10 black businesses, 200 SMEs, and five black entrepreneurs over the next five years. Here's a list of the funds and accelerator the 'SA SME fund' will invest in.
https://www.tekedia.com/fixing-nigerias-lackluster-venture-capital-funding/
Nigeria should consider having a fund that is similar to this South Africa's $95 million fund, reported by TC Daily/Forbes. The South African strategy of investing via funds mirrors my suggestion over Nigerian government doing this directly, as we did, and largely wasted resources through YouWin. When government disburses funds, the chance of recovering the monies for future entrepreneurs is zero. But when executed through funds, there is a higher probability.
South Africa's government has launched a $95 million fund to support SMEs and startups. The 'SA SME Fund' will support SMEs with turnover between $1.40 million and $35.23 million. It will support 10 black businesses, 200 SMEs, and five black entrepreneurs over the next five years. Here's a list of the funds and accelerator the 'SA SME fund' will invest in.
Quote from Francis Oguaju on April 1, 2019, 11:04 AMGovernment doesn't know anything about fund management, so any fund it distributes ends up being a bazaar to the recipients.
We always waste resources on interventions that lack measurable outcomes, just consumption.
Whether we call it YOUWIN, TradeMoni or N-Power, once the bazaar ends, most recipients return to their original status; and then both government and citizens become poorer.
Nigerian government will record substantial success rate the moment its freebies start going via independent administrators, with clear mandate to deliver results.
Government doesn't know anything about fund management, so any fund it distributes ends up being a bazaar to the recipients.
We always waste resources on interventions that lack measurable outcomes, just consumption.
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Whether we call it YOUWIN, TradeMoni or N-Power, once the bazaar ends, most recipients return to their original status; and then both government and citizens become poorer.
Nigerian government will record substantial success rate the moment its freebies start going via independent administrators, with clear mandate to deliver results.