How does your proposed innovation leverage public intervention in catalyzing private SME finance?
A lot of public individuals in Africa , want to invest a bit of their income into the markets so that this funds grow and bring good returns , but the challenges is that most investment houses are not so accesible to the majority of Africa masses , therefore a lot of opportunity is lost in terms of public money ( wages ) We want to bring the two together, how can profit making with that money and pay it back with interest , there are no alternative means of raising public money for private sector usage , especially in previousley disadvanged communities . The SME Library is a good start for the masses to at least to drive such a process . our request is to alow the public to pay for a membership card ,which is just a start to see the willingness of individuals to invest their hard earned U$ 1.00 or U$ 2.00 for a service thats going to benefit them and their children , through the provission of free ICT services , business books , audio visual/video conferencing , business advise , trade links , and shared inestments in projects that are viable within africa, that are identified by the indiviul members themeselves . There are very little information to understand the power of civil servants in africa , when it comes to group savings , for instance with an aim to expand into new venture that are aimed at improving the living conditions of the people , for instance collective savings can be used to build a new shoping mall in a township , or Invest in new properties , in the form of housing needs /shortages ,or ven to invest this shared group savings int accomodation flats that are greatly need inthe community . Now with the SME Libray , we are going investgate such needs from the communities themeselves and focus their investments directly to adress that specif needs . For example we bussy constructing the Namibian Libray , 1) We have already 500 members signed up , contributing U$10.00 each = U$5000 x 12 = U$60.000 in one year . The benefits are numerouse to the members and the community as a whole . But we now have U$ 60.000 in membership fees . We asked the members , and they decided to spend the money on building accomodation flats becouse there is a shortage of flats in the town . The flats will generate income for the SME Library to be able to increase services to the members , it will also give a good lesson for the 500 membership , that they could only achieve such Infrastructure which is appreciating and earning income for them and increasing their benefits if they collectively paid U$ 10.00 monthly which has multiplied , what else can they build in this manner , perhaps a new school , new private hospital or perhaps a new municipal transport service which would benefit their investments throught increased dividents . Communities all over are collectively slving their problems and making business sense out of their problems by acting clectively . Our innitiative is unique becouse it carefully loks at the needs of members on the ground and ask them how we should direct their monthly contribution . This system should be replicated after a few years on how pension funds are used , and how the majority contibuters should benefit from investments made by the pension fund administrators on their behalf . For example the namibian Government owned , GIPF or Governemnt Institution Fund has 4 billion N$ this year and many more billions in Assets . the question is , How come this money is not used by the contributers to the fund who are Government Employees to build a new clinic in the village or build an old age home for themselves
If you checked any of these barriers, describe how your solution addresses them
savings and community contribution for one purpose , by adressing and solving the very core needs of our people through a PPP intitative such as this one . The only way is to bring both groups together and see how mcuh we can compromise to get the results we are all longing for and the SME library is the only innitiative that is truelly looking at developing a way that people can overcome their fear of the big terms used in the financial sectors and they can focus on learning about this terms , this barier of financial terms need to be done away so that SME and future enterpreneurs can know that the finacial markets are for everyone wether you want invest a monthly U$10.00 you can do that without fear of the usual of capital jargon , that our africans are currently experiencing . Also we want people to look at the opprtunity of financial gain , which is done in ahonest manner , 1) overcoming the financial jargon , through making accesible business magazines , seminars and workshops , reading materialls in all forms , including ICT , video conferencing to everyone , and the only way we can make sure everyone has such opportunity is through membership paymenys , this means , our shareholders in the SME library are the members themeselves , just for them to own the SME Library fascility is an investment in itself , this is the first investment they have made in their life , who are the members , domestic owrkers , public servents , teachers , nurses , SME's , aspirring enterpreneurs with god ideas bring everyone on board and inter exchanging the information and ideas and also playing as matchmakers betweel public and private individuals who are members through a libray system is the most convenient place , more then at the cafe or university , or any other institution , thats why it is so important to establish this SME library's becouse its not the average place you will find business dealings . but its a great place to exchange ideas and knowledge , and its also a great place to breack old bariers . and we are laso going to be for everyone , doesnt matter , it is also agreat palce to store and give out information to SME or to test triall some ideas , or to communicate with others in another african country through our video conferencing audi vissual room . the structure itself will be constructed in such a way that it reflects a business set up , with glass doors and clean open spaces for relax and great atmosphere so that the notion of lack of space or a proper facssility for business is not going to be experienced , secondly we are going to stock allof the information in the world through datad bases and inter connected system with one another , so whatever an sme want in namibia , botswan he can get or in uganda he/she can get it via our library . other activities such as feasibility studies are going to be provide through our network of consultants , we are also going to discuss solutions to the lack of tailor made financial products in respective countries and hopefully come up with solutions that reflect the reality of our people in africa , the majority who are strugling farmers or teachers with low income , or nurses etc , tailor made solutions for SME's , tailor made parnerships between Public and private individual business people , tailormade solutions between country to country within africa solutions , and tailor made solutions for women groups etc with good returns on their investments or what ever product is developed it should benefit the membership .