Dear Editor,
It’s imperative that we provide solutions for our current situation and dilemma as it relates to the issue of reparations or justice for an ancient wrong that is continuously being done against people of African Descent. Persons who benefitted from this transgression are now beginning to open up dialogue which should not be in anyway deterred, but it is important for us to create solutions as opposed to possible solutions on the way forward to impact the financial, social and economic injustice to correct this wrong. We know that it cannot be truly corrected because of the pains suffered and the loss of life was so great that there is no way they can begin to compensate fully, but let us start somewhere.
First, and foremost, create financial incentive programmes to benefit the descendants of ancestors and persons who were wronged. Nominal Business Loans Interest programmes that are guaranteed by these families, who benefitted, should be examined as one possible solution, and when I used the word “Business Loans”, I don’t mean a loan to be paid back to the family, but a repetitive system of accessible funds to be set aside for continuous benefit of African Descendants who suffered because of this inhumane trade. For example, the Gladstone Family could pose a collateral figure and create relationships with local financial institutions, whereby funding could be allocated as guarantees to assist African Descendants Business Project.
Africans in the Diaspora, with an economic scale of risk in a 1 to 10 percentile, taken the median risk margin of 5 for approvals, will benefit. This assessment risk factor with the correct paperwork model, and proposal, along with proper projections and income repayment forecast, can benefit from a low interest of 0.1-2% to facilitate and nurture the African start-up potential investment. Using the set aside capital, whereby it is not a handout but a start-up programme initiative to access capital at a 0 -1% interest, that interest can be re-invested to the fund to ensure the continued benefit to the programme beneficiaries who are the African Descendants.
Using their ill-gotten gains as collateral, the Gladstone Family can create empowerment projects and start-ups for African Descendants. This is a project for prospective pro-reparation institutions and African Think-Tanks to develop and improve on beyond mere talk shops; to assist African Descendants who cannot access traditional means of capitals today to create wealth. Banks and financial institutions today are asking for voluminous paperwork, and track records, which some of us do not have for different reasons.
The African Diaspora majority were slaves and just out of slavery. They are now trying to build wealth, they don’t have access to all streams of wealth as yet, but they need to be put on level ground to get there. Let’s start programmes to assist and do not discount reparation. It’s very important, all part of the process that is needed to correct an injustice.
Sincerely,
Melvin Duke
Attorney-at-Law
