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where in Africa can i get low interest loan to start a trade?
By
yawapekin
Posted on
04/28/06 Total Answers
2
Answers-
Try the African politicians, you will be shocked that you wouldn't be paying any interest at all, and they have the cash already waiting for you in the boot of their cars
Answer by :
solidudezi On Date
2006-04-28 02:57:42
there is no low interest rates in Africa!! Only friendly connections, family members or charitable people give low interest rates in Africa. In Ghana the bank interest rate is 23.5% so try running a business with that annual interest rate, you'll be squeezed to death! I guess South Africa has the cheapest interest rates in the continent with the most professional banks, if you're creative you can find good money from the Western NGOs, who have started micro-lending programs, like DANIDA, but not much money available in there either.
The only cheap money is somebody investing in your company, and you giving him or her shares of your company, it's called equity finance. But then, somebody or some financial institution has to trust you and your business, this is only available for large businesses in Africa.
