Beyond the Romance of Microfinance

In the Huffington Post TED Africa Fellow Magatte Wade co-founder of Adina and Michael Strong write:

In the course of starting a business based in Africa, I was referred to a former Silicon Valley CFO who had made enough money and now devoted his life to helping the world's poor. As I began to explain my project to him, which involved setting up manufacturing plants in Senegal, he kept encouraging me to buy crafts from local artisans rather than setting up manufacturing plants. Despite the fact that he had become wealthy through a capitalist world and lived a comfortable lifestyle that depended on tens of thousands of factories around the world, his vision of helping the poor was strictly limited to microfinance and local crafts. My vision of manufacturing in Africa was frankly repulsive to him.