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Published on Oct 26, 2010
VISIT WWW.THEWORLDCHALLENGE.CO.UK TO VOTE MYC4's online marketplace began trading in October 2007. With the Internet as infrastructure, Denmark-based MYC4.com was built to invite people worldwide to connect directly with African entrepreneurs who can't get the capital to develop their businesses. MCY4's founders describe its mission as "Business must be for a profit, but profit must be for a purpose".
MCY4 says it has developed a totally transparent model that allows African enterprise to attract investment at an interest rate that they are willing to pay. The cyber marketplace has provided about US$15 million in seed money for nearly 6,000 African businesses to date.