Funding - Diaspora Investment Bank

[t!b!]

This discussion is about the funding of the project and of the
development.
The associated page with this discussion is here:
https://sites.google.com/site/watuafrika/HOME/the-project/diaspora-bank

[t!b!]

A short description of the concept written by Ian Bentley was added
here.
https://sites.google.com/site/watuafrika/HOME/the-project/diaspora-bank

[t!b!]

From Ian Bentley, founder of the Diaspora Bank:

I’m very happy to inform everyone that we now have DIASPORA BANK set
up as a sub-group for ‘Africa – All things Business’. You can find it
here:

http://www.linkedin.com/groups?mostPopular=&gid=3662892

The main AATB group has in excess of 4000 members so it will serve as
a powerful feeder to Diaspora Bank.

What I find particularly gratifying is that this initiative is proving
as exciting and enticing to innovators from around the world as it is
to the entrepreneurs and professionals of the AATB group.

A bit of background: As most of you already know, I’m one of those
maverick ‘creatives’ with a lot of ‘outside the box’ ideas. What you
may not know is that I’m also an activist of long standing. Currently
I feel just about as despondent about what is (and isn’t) happening,
both in my home country of South Africa and across the continent, as I
have at any point since apartheid ended in 1994.

The gulf between the rich and the poor continues to grow … and the
people’s patience is wearing thin. Without a doubt there is a lot of
unhappiness out there.

It is abundantly clear that an elite core group of people have been
benefiting massively, at the expense of the ordinary people of Africa.
I don’t have to spell things out … the SWOT analysis that I posted in
the AATB group based on the 240-odd posts in their speaks way more
eloquently than I ever could.

The concept outline is in place and is generally accepted.
I have also begun adding detail to certain aspects of the concept
which I plan to gradually introduce into the mix as we move forward.

But the hard work still lies ahead, of course. We need to define the
concept in such a way that it can’t be hijacked by unsavoury elements
wanting to push their own agendas.

This HAS to be for the people of Africa, first and foremost … growing
the continental economy and generating employment and opportunities.

The Diaspora Bank must stand as a bastion of honesty in a sea of
corruption, scrupulously adhering to a code of conduct that is
universally admired and respected.

Diaspora Bank is unashamedly aimed at the global innovation community.
This is my passion, and the sector where I enjoy the most respect and
support. If we want to position Africa as a global Hub of Innovation,
we need to harness the best members of the innovation community to the
Diaspora Bank cause … and persuade them to focus their powers on
developing Africa-based projects. The Diaspora Bank will partner with
them to fund the project which should be a great enticement to a super-
deserving group of people that seldom get a fair deal.

Up to now the world has simply taken Africa’s resources and her people
and used them to THEIR benefit … we’ll reciprocate by taking the
world’s great ideas and implementing them in Africa – to the benefit
of the innovator and the continent.

I hope this is a vision that many of you can share … and I greatly
look forward to working with you to make it a reality.

On Oct 28, 12:09 pm, "t!b!" <tiberius.brastavice...@gmail.com> wrote:
> A short description of the concept written by Ian Bentley was added

> here.https://sites.google.com/site/watuafrika/HOME/the-project/diaspora-bank

[Ian Bentley]

The idea of a DIASPORA BANK to fund innovation had been rattling
around in my brain for several months … ever since I first began to
realise (from bitter personal experience) that conventional funding
sources like banks, VCs and even Business Angels are loathe to fund
disruptive new initiatives that 'break the mould'.

And if you are based in 'far-off Africa' the situation is obviously
amplified many times over.

Of course, on the rare occasions when conventional funding
institutions do condescend to fund an initiative, they will take their
‘pound of flesh’ … usually in the form of a hefty dollop of equity.

At the other end of the scale, we have a proliferation of crowd-
funding sites emerging. The idea of crowd-sourcing funds for start-ups
has been proven to work - it allows small investors to get an
affordable 'piece of the action' by investing in exciting new ventures
… while at the same time the entrepreneur is not forced to sacrifice a
large percentage of equity to the finance provider. As someone who
finds the way in which finance providers rip-off innovators extremely
distasteful, this appears a good option.

The downside of crowdfunding is that it requires the person seeking
the cash to mobilise support for his/her idea ... and that involves
another set of dynamics and skills (including a database of contacts,
ability to write compelling sales copy, etc). Again, not an ideal
option.

So the Diaspora Bank could in essence become a bridge between two
fundamentally different approaches which, if we develop the concept
wisely, will provide a win/win solution for all concerned.

[t!b!]

I created a shared Bookmarks list on Google Bookmarks. I will continue
to update it on a regular basis. send me a request personal to include
you as a co-editor of this list.

http://goo.gl/lists/lGSL