Custom Designed on Nostr: Knowing some families from East Africa, this is a cultural barrier to capital ...
Knowing some families from East Africa, this is a cultural barrier to capital intensive projects. If you save up money to, e.g., build a house, then if anyone has an "emergency", it is socially expected of you to give them that money. (And they would do the same for you.) It is a beautiful thing in one sense - people caring for each other. But it also means you never get your house built.
The work around is to immediately use any available capital to partially build said house. Initially, you might buy the land. Do some low investment farming until you have enough available to dig a foundation. Now you have a dangerous hole in ground for months or years - but what can you do? Now we can pour cement. A little less dangerous, and more useful until the next phase. And so on, and so on. Eventually that house does get built - but this is why you see so many half finished building projects there. It's not because they "got bored and lost interest" like recent crops of Americans. It's because of how saved capital is prioritized.
The work around is to immediately use any available capital to partially build said house. Initially, you might buy the land. Do some low investment farming until you have enough available to dig a foundation. Now you have a dangerous hole in ground for months or years - but what can you do? Now we can pour cement. A little less dangerous, and more useful until the next phase. And so on, and so on. Eventually that house does get built - but this is why you see so many half finished building projects there. It's not because they "got bored and lost interest" like recent crops of Americans. It's because of how saved capital is prioritized.