South Africa is well-placed to become a regional financial centre for Africa. Africa needs a financial hub to intermediate the large flows of foreign capital that will be required to rebuild the continent. At the same time, the financial systems of the African nations need to be rebuilt, so as to mobilize capital and reduce the considerable risks inherent in investing in, and trading with, many African nations. This book looks at the role played by individual families, communities and the church in the financial history of Money, Banking and Credit .
1. The Shylock Brothers
-Shylock also known as the Merchant of Venice, potrayed by William Shakespeare as most vindictive in his temper; 'penurions in his ways, griping in his dealings, unjust in his practices,..
2. The Medici family,
- The House of Medici, first attained wealth and political power in Florence in the 13th century through its success in commerce and banking
3.The Rothschild Family
- Famous for their banking activities, the Rothschild family is also known for their achievements as winemakers, collectors and charitable benefactors.
- They built their empire through the bond market.
4. Reverend Henry Duncan (1774-1846),
- The local minister in 1810, in Ruthwell, Scotland who introduced Mutual Banks model.
-“Savings and Friendly Society” organized by the Reverend Henry Duncan (1774-1846), the local minister in 1810, in Ruthwell, Scotland. Rev. Duncan established the Mutual Bank in order to encourage his working class congregation to develop thrift.
-These first mutual savings banks were designed to uplift the poor and working classes to teach low income individuals the virtues of thrift, and self-reliance by encouraging them to save and allowing them the security to save their money.
-Mutual Banks have historically been characteristically conservative in their approach. This conservatism is what allowed mutual savings banks to remain stable throughout the turbulent period of the Great Depression, despite the failing of some commercial banks.
As you read this book you will be challenged to start thinking, functioning like the bank or even more, You will learn basic underlying principles that govern money such as Saving, Investing, Leveraging as mentioned in the parable of the talents. This book will answer pressing questions such as Why we need a New Financial system and more Kingdom Banks that will steward kingdom resources and money, finance kingdom enterprises , lend at no usury, bring economic benefit to the societies and facilitate the economic reformation in our nation and continent to realize the African Dream of economic freedom.
I believe that Kingdom entrepreneurs seek to know where God is headed in his industry so that they can cooperate with His plan. Given the current financial challenges in our nation, I honestly believe that "Community groups and Church groups will be the core innovation in bringing radical transformation in the South African financial industry".The church is in an exciting place of seeing co-operative and mutual banks being started and providing financial services to their own members and to the rest of the nations. After all God' word confirms that we will lend to many nations.
I have accepted the challenge to be the Bank , Will You accept it?