Introducing Educate, New Micro-Finance Company
We are constantly on the lookout for upcoming ideas, but we're even more dedicated to finding entrepreneurs whose best traits are their character. Life's too short to work with people you're wondering about or that you have to tread carefully around. People that get offended easily, people that are negative and professional whiners, or people that are looking out for their own benefit are not worth trying to build with. Optimists tempered with realistic goals, direct and clear communicators, and honest and integrity is what we look for in a team.
We first met Terrance and Gerald from Educate over a year ago and talked about a micro-finance opportunity that would make a huge difference in the education sector by giving families payment terms when it comes to their children's education fees. That said, we believe that education opens doors. And we want to be apart of opening more doors for more Zimbabwean kids to get educated.
It's a bit of a risk, especially when liquidity in Zimbabwe is strangled like it is now, but we invested in this new company because of the entrepreneurs behind it.
This relationship was cultivated around sadza (local Zimbabwean deliciousness) and some slow-roasted, game meat. It took almost a year before we solidified everything, but there were three things that stuck out about these guys:
- They care about the success of others more then themselves.
- Their track record of relationships and goodwill. Their good reputations preceeded them.
- Their experiences in life that prove their ability and capacity to start and build a company like Educate.
We couldn’t be more thrilled to announce the launch of Educate a new micro-finance, education lender. The potential to impact education in the nation and begin also deploying Philanthropic Investment thinking to this sector is something that we are excited to explore.
We're not saying that this will be the best investment that we've ever done or even that it will definitely work, but it's an idea and a company worth bringing into the Emerging Ideas network and portfolio. It'll be an exciting journey and, as always, we'll be keeping you posted on our progress.
(photo via africa renewal)
Posted on September 18, 2014
by Tim & Tommy filed under