Help me distribute $100,000 to new entrepreneurs in Africa

Help me distribute $100,000 to new entrepreneurs in Africa
paulbuchheit.blogspot.com

Kenya is at the center of the mobile phone payment revolution with its M-PESA service, and is the reason Zidisha was first piloted in Kenya. Thanks to M-PESA, Kenya is still our largest country today.

Most Zidisha loan payments are transferred via mobile phone. For example, we use M-PESA in Kenya to transfer funds from our US bank account electronically to a bank account in Kenya, and from there to the mobile phone M-PESA account of the recipient. The recipient can exchange the M-PESA credits for cash at a local M-PESA kiosk. We receive repayments the same way.

In countries where mobile payment services are less developed, such as Burkina Faso, we transfer payments by sending a disbursement order to the local bank account where our funds are held. This is a much less scalable solution than mobile phone payments, and is one reason our growth is more rapid in the countries - Kenya, Ghana, and Indonesia - where mobile phone-based payments are enabled.

First of all, I would like to commend your worthy contribution to the good work the people at Zidisha are doing.

There is something I want to draw to your attention to(searched and did not find your email)

I am wondering how to balance the stereotyping to the "African Entrepreneur" while at the same time not forgetting the millions of small scale business owners in Africa.

When I first saw the headline, I was excited that finally, a top tech investor would be investing in African startups. Only to look and see yet another (VERY COMMENDABLE)but "charity like" donation.

In general, you do not see VCs from the west investing in African startups. That door is almost always closed. When they do it has to be under the category of impact investment and/or a "social enterprise"

Why do you think this is so?

Two years before the WhatApp acquisition, a Ghanaian startup SAYA https://www.saya.im/ came for disrupt but they could not get any funding. Even with hundred thousands waiting signups. Almost like they were not worthy to tackle high tech.

I am very certain that if these guys had built an SMS app to remind farmers of prices in the market (or something along that line) they would have got funding.

Thankfully, things are changing a bit as Dropifi http://www.dropifi.com/ (from Ghana) got funding from 500 Startups.

PS: I want to make it clear that what you are doing is very worthy and commendable and this is not meant to be a criticism of you or this action in ANY way.

PPS: I will be in SF from Wed-Sunday this week and would be very happy to chat with people who want to learn about the tech scene in Nigeria (yes and that includes 'Nigerian scams' et al :)).

Oh. I also do not mind surfing on your couch if available too :). You will be paid in Nigerian beer (I brought some).

my email is in my profile.