The mooted plan by the Black Business Council to establish a black commercial bank should be given a nod as there is a need for an alternative bank to cater for the working class people. Considering the calibre of the proponents behind the plan, the bank is predestined to transform lives of black people and material conditions on the ground. For reasons of timing, it will have a material effect on black people and liberate them from the present-day discriminatory practices driven by greed for profits. The majority of people would support the bank to grow rapidly and give the major banks an intelligent competitor. The bank can benefit from the missing-middle hurdle, which has been the key restraining factor in the development of our communities, to make substantial gains on credit extension to black entrepreneurs. The bank would certainly register positive performance in terms of a sustainable profit margin due to growing client volumes and revolutionise the banking environment in ke...
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