MYC4 seems might be a tool to solve some issues in Africa. Founded in May 2006 as a joint venture between Mads Kjær, Kjaer Group A/S, and Tim Vang – MyC4 is mainly a internet platform where African entrepreneurs can seek loans. Similar to Ebay, but the other way around. Potential lenders can court with their conditions. If A can offer a better interest rate than B, the African loan seeker will likely do business with A.
There is a 2% charge for MyC4, there is an optional 1% pay-back insurance, there is the transfer commission – but all in all there are better interest rates than banks offer. Seems to be a step into the right direction – Africa doesn't need charity, it needs business.
www.myc4.com