On 10^th December 2006, Muhammad Yunus, known to many as the Agbanker to the poor received the Nobel Peace Prize in Oslo, Norway. The Bangladeshi economist started his journey towards creating the Grameen Bank with a loan from his pocket to 42 desperately poor people.

Agitated by the fact that the fine sounding economic theories he taught in class never translated to change in the society, he started an experimental project where he gave women loans of $27 to buy straw, to make stools. The Grameen bank, which is a result of this project, has given a total of $5.72 billion in the past thirty years. It has 6.61 million borrowers and 2,226 branches. 

Proffessor Yunus has over the last years broken countless rules of banking by providing loans to the poor as opposed to the rich; in small amounts as opposed to large and without collateral or paperwork. He has broken the perception that women and the poor, are not creditworthy. 

By awarding Yunus a Nobel Peace Prize, it has brought to the fore the fact that the mismatch between the classroom and the real life situation should be bridged. African intellectuals must exit academic vaults in which they are interred and convert their book work into practical approaches that will consequently steer the continent’s 800 million people to heights of prosperity. 

It is a shame that the continent has produced scientists of repute, yet it is mired in disease. It is a shame that the continent has shaped engineers, helping other countries to go to the moon, yet connectivity within it is poor. It is a shame that Africa has given able leaders to  highest international organizations, yet it is mired in poverty and cannot solve its internal conflicts. 

Yunus’ success calls for a rethink on the philosophy that thrives on dolling out money to the poor. He has finally demonstrated that business solves problems and indeed, the free human mind is capital. This issue affirms that we have to change our mindset if we are to create wealth.