Money lenders: the main reason why people fear them

Most people in the world will agree that Africa is one of the best places to live just because they think there is less greed and more of nature and natural things in Africa, and that is true, but as a human being that wants to survive which is the most important part of our existence we do crazy things to survive because Africa is a land that is not full of opportunities, people seize every opportunity that they get, whether it is good or bad.

We have good and bad opportunities that come in exploring and exploiting people just because you see a weakness, and that weakness will be good for you in a way, so you exploit it. We have so many bad opportunities, people do more of that in Africa because good opportunity does not always comes around, so you have to exploit somebody to make money.

Money lending is a popular practice that occurs worldwide, including in Africa. However, it is particularly widespread in Africa, where there are people known as money lenders. Despite their terrible reputation, some people still seek their services. It is generally advised to avoid taking loans from these lenders as they often employ unethical tactics to ensure that you cannot repay the loan. There have even been stories of money lenders using fetishes means to seize property or collateral from people.

If you're wondering why you might consider praying or using unethical tactics to prevent someone who owes you money from paying back, it's because money lenders in Africa tend to be very cautious about whom they give loans. If they don't feel that what you're offering is worth more than the money you're borrowing, they may be reluctant to give you loans in the first place. Once they do give you loans, they'll do everything they can to ensure that they get it in folds, often by making it difficult or impossible for you to repay. If you've put up collateral or offered property as security, they may be particularly determined to make sure that they come out ahead.

Recycle for the rich

In some foreign countries, borrowing money is a common practice among the wealthy. Banks even call them to offer loans using their credit card, assets, and bank transaction details to give them loans. What makes it more appealing is that there are no taxes deducted from the money borrowed, especially when used to purchase properties. The government views this as a game since they are aware that the borrowed money will be repaid. Sometimes, the rich need to show their properties as part of the loan process, but it's still a good deal for them.

You see, it's a win for everybody in that country because they lend you money, and you pay some percentage they are trying to put on it. You make a good deal, everybody wins, but this is a different case in Africa because they don't give the rich loans, they exploit the poor who are vulnerable and never lend the rich money because it is certain that they will repay them.

The Government does this, and most money lenders do this. The mirror reason why the government does this in Africa is because most African countries do not even have a well-structured tax plan. everybody can get away with tax in Africa, to ensure gains they exploit those who are vulnerable.

The gap

It is often said that taking a loan from a money lender is a bad idea, yet many people still seek their help. This is often due to desperation when we overlook the fact that there is a high chance of not recovering our assets. We focus on collecting the money because certain things are essential, and we let our emotions guide us.

Most rich African men don't borrow money from money lenders even if they want to, they will never borrow them. you might convince a money lender to lend you money, and his static does not work on you, they will always put an extra percentage on their money just because they know you will pay back. Instead of collecting 10 to 20%, they are making 40%. That is how terrible they are.