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Afrikan Business and Economics

Tenkamenin posted an update in the group Afrikan Business and Economics
6 years ago

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I’m thinking about creating a platform where Afrikans can buy and sell Afrikan owned businesses.

The plans is to start here in the US and then expanding to Afrikans all over the world.

The platform will also have other features like access to capital for business acquisition or business growth.

Thoughts?

11 Comments
- SankofaMAAT
  
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  Are you talking about services or products, or both? In any case I think it’s a great idea though there are several platforms that ofer the above. In the case of the latter (products) https://webuyblack.com/ is excellent, and in accordence with opporational unity I would support helping that platform to grow over starting another like it..unless of course you mean something quite differently than what it offers.
  
  6 years ago
  - Tenkamenin Boateng
    
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    No not services or the product, but the business itself.
    
    6 years ago
    - SankofaMAAT
      
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      OO ok I think I understand, esssentially you would want to sale investment options like crowd funding, seed money, or “stock” kwk?
      
      6 years ago
      
      Tenkamenin Boateng
      
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      Well, I’m mulling the crowd option but there are several Black crowd funding platforms out there. Rather, I would like to make business loans for business acquisition or development.
      
      6 years ago
  - SankofaMAAT
    
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    Perhaps Abibitumi and Webuyblack could partner? Abibitumi to me (please correct me) is the best black “social media” website around, sales wise offering services like language resources and products like educational lectures, quite different than what WeBuyBlack offers; goods that Abibitumi dosn’t/ it serves a different market space.
    
    Maybe Abibitumi could be sponsored by WeBuyBlack(WBB) as their “official social media resource” with WBB advirtising their visitors to open accounts and purchase Abibitumi products. On the other side Abibitumi could advirtise WBB products to the wonderful members of Abibitumi who believe in the importance of buyingblack.
    Both sides would gain an increase in market size while not conflicting with there very different sales offerings, and members of both sides would have a social media resource that could be used to increase the chances of projects getting accomplshed like the first black owned and exclusivley sourced grocery store in Atlanta
    https://webuyblack.com/blog/soul-food-market-backed-movement/
    
    6 years ago
- Nataki
  
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  If you are talking about preparing entitiesand doing business valuation and sales negotiating…let’s talk.
  
  6 years ago
  - Tenkamenin Boateng
    
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    Yup, precisely…I run a business loan program and I love performing business valuations. I’m about to combine both of those passions into one business and focus on the demographics I love.
    
    We shall talk more about this…..
    
    6 years ago
    - SankofaMAAT
      
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      Right on looking forward to discussions over Zoom
      
      6 years ago
- Tenkamenin Boateng
  
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  The first name I came up with was Siura Capital, but I don’t think that’s a great name for the platform, instead, that might be the name for the lending company for the platform.
  
  I’m leaning towards “Moani” which I read means “Money” in a Cameroonian language. I’ll have to verify and ask a few buddies if they’ve heard of that word. I do wonder if I should go with something simple like buymyblackbiz or unique like an African name. Thoughts?
  
  6 years ago
  - SankofaMAAT
    
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    Exciting ideas brother, my 2cents:
    
    Far as naming/nomenlature I suppose it would depend on the market your looking to serve. It would seem to me limiting to make much termonology of your platform based from Afrikan languages as this may alinate potential clients due to the fact back folk are culturally alienated from ourselves.
    
    On the ther hand where being identified as “strongly Afrikan first” may be a weakness in many ventures it could be a strength, as those few willing to be black and proud with there business and dollars will be more likely to ride or die with ya so to speak as suppose to an ignorant albeit whealthy negro.
    
    @Tenkamenin Essentially what kind of scale are you looking for? Large scale I would suggest my former suggestions, smaller scale I would suggest my latter sugesstion. Hope my opinions were helpful. I’ll be on the lookout for any precedents of black owned investment corps.
    
    6 years ago
    - Ɔbenfo Ọbádélé
      
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      @sankofamaat, über is a german word, but look.
      
      6 years ago