CORRUPTION OR BAD MANAGEMENT? Is Our Problem truly Corruption or Lack of People who know how to manage an economy? I was in Nigeria few weeks ago...And I approached my Bank to give me a Loan to run my registered Facilities and Safety business. The Bank Manager asked me how much I need, I told her I need about N5 million, for office rent and paying staff for at least one year before we break-even. I explained to her how lucrative the business is as all I need is just 20,000 clients/ customers which we can easily get in Lagos alone. After talking to her for more than 30 minutes, she turned to me and asked if I have collateral?...I said like what, she said my house??? I said, my house is jointly owned and supposing I havent got a house, how much can the bank lend me to start a business? She said, its either I have a house or I work for a company in Nigeria... She probably makes sense, but in a developing economy like Nigeria why cant there be economic risk loan or government guarantee loan schemes for people with good business ideas?
Posted on: Fri, 11 Apr 2014 21:38:00 +0000
Recently Viewed Topics
© 2015