Lessons From The Early Days: Raising Money From The World Bank (Part 5)

Lessons From The Early Days: Raising Money From The World Bank (Part 5)

I told you that I read a newspaper with a pen in my hand, and I always have a notebook. So there it was, in the newspaper: the International Finance Corporation (IFC), an arm of the World Bank, was creating a small fund to help, small businesses in Africa!

We had no emails in those days. Using the principles I have already taught you, I set about on my deep research: I read about the World Bank and the IFC; I tried to get as much information as I could, in the days when there was no Internet; I spoke to friends in the business community, to get advice. Finally, I wrote them a letter, and surely enough within two weeks, I got a phone call.

Dr. Lawrence Clarke was a young banker, from Guyana, working at the World Bank office in Washington. He had been assigned to the IFC, to find ways to help develop the African private sector. “I am coming to see you, in Harare”, he said in his booming West Indian accent…..This was my break, and I grasped it with both hands!!! Before he arrived, I was like a student preparing for exams. I crammed figures, statistics…. I knew my business.

Lawrence Clarke arrived alone, with just his computer, and he parked himself in my office for weeks. He went to see my customers and he visited my projects. He created models. I can still see him, a mountain of a man, who often worked in his shirt sleeves. I had never met such a consummate professional.

I got my facility of $250,000, in debt and equity….. From the World Bank’s private sector arm, called the IFC! It was like receiving millions of dollars in today’s money, and I was just turning 30 years old! That was 1990.Today; there are literally scores of funds similar to the one that the IFC had set up. These funds have hundreds of millions of dollars. The funds are looking for young people like some of you. It is my hope that some of you have extracted some deep principles from what I have been saying, that will open the way to access these kinds of funds.

Remember these three things that I have said to you before:

1. Attitude sets the altitude.

2. Every game has its own rules, and its own language… Learn the rules, and language of the money game!

3. Yes you can!!!

There is one, final part to this discussion…

God Bless you!

Author:Strive Masiyiwa

Strive Masiyiwa is the founder and Executive Chairman of the Econet Group. He serves on several international boards including Unilever, and the Global Advisory boards of the Council on Foreign Relations and Stanford University. A board member of the Rockefeller Foundation for 15 years, he also serves as Chairman of the Alliance for a Green Revolution in Africa (AGRA). He is a co-founder of the Carbon War Room, Pathways for Prosperity, and the Global Business Coalition on Education. He and his wife, Tsitsi, co-founded the Higherlife Foundation and are signators of the Giving Pledge.

4 Replies to “Lessons From The Early Days: Raising Money From The World Bank (Part 5)”

  1. I have caught the fire and same spirit of wisdom .! Ready to go forth and make an impact in the market place

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