Twenty years ago, the economy of Zimbabwe hit global headlines for its hyper-inflation: Wikipedia tells me prices rose 89.7 sextillion percent in 2008. And while the decimal point here may create the illusion of something measurable, in all real terms, it is an incomprehensible number - something which The Zimbabwean Newspaper cleverly circumvented when it ran a protest campaign using a trillion dollars of actual bank notes as a backdrop to billboards and posters. This was brought under control for a decade until, like...
Twenty years ago, the economy of Zimbabwe hit global headlines for its hyper-inflation: Wikipedia tells me prices rose 89.7 sextillion percent in 2008. And while the decimal point here may create the illusion of something measurable, in all real terms, it is an incomprehensible number - something which The Zimbabwean Newspaper cleverly circumvented when it ran a protest campaign using a trillion dollars of actual bank notes as a backdrop to billboards and posters. This was brought under control for a decade until, like something out of a Joseph fever dream, those ten stable years were followed by a fresh set of five hyper-inflationary ones before a gold-backed new currency was launched last year. You may think it is hard to predict default rates in your market, but imagine how difficult it is when even the most foundational aspects of the economy are prone to upheaval!
It's a frightening thought, and one that might have me running for the hills, but the volatility that scares me has fortified George Nachamba, who saw opportunity and market need. And he responded, building Credisafe to give lenders and vendors the ability to credit score the informal sector. It's a fascinating example of allowing necessity to force innovation, and I think they're building features that credit bureaus in the biggest markets should be paying attention to.
You can find CrediSafe at www.credi-safe.com
George is also the author of 3 books, two related to business management and the other to personal development: you can get them by emailing him using gnachamba@credi-safe.com
You can connect with George on LinkedIn, like I did: https://www.linkedin.com/in/george-nachamba-423b8223/
You can seek me out on LinkedIn, too, where I'm open to all genuine new connections - https://www.linkedin.com/in/brendanlegrange - and follow the show's page while you're there.
Meanwhile, my action-adventure novels are on Amazon, some versions even for free, and my work with ConfirmU and our gamified psychometric scores is discussed at https://confirmu.com/ and on episode 24 of this show https://www.howtolendmoneytostrangers.show/episodes/episode-24
And since you like podcasts, I'm also co-create hAIghtened senses with Christo van Zyl, in which will look at the intersection between human senses and technology, especially AI-powered technology. You can already start to follow it wherever you're listening to this one - there's only a trailer there at the moment, but we've recorded some of the early episodes and it's going to be a fun ride!
Keep well, Brendan
Hosted on Acast. See acast.com/privacy for more information.
View more
