$1million African Enterprise Development Fund to be launched within 60 days!

August 4, 2004 -- Africa Mutual Funds Corporation of Dallas, Texas has decided to launch an enterprise development fund styled "African Enterprise Development Fund" which will be open to the first 4,000 investors with a minimum deposit requirement of $250 to the fund over a period of 90 days. The fund will provide short to medium-term loans to African businesses who need expansion or project execution money for their domestic business operations. Investors or contributors to the fund will earn a yearly interest of at least 3% which will be paid half-yearly in July and January. Loans, which will be granted to two categories of businesses will require a feasible business plan incorporating loan repayment with interest.    

The two categories of businesses that will be funded are:
1. Existing businesses who need expansion money or working capital.
2. Businesses who have a feasible project for which they have secured a contract or won a bid.

Loan rates will vary among borrowers depending on their credit rating as provided by the major credit bureaux.

Request for information and take off date for this fund should be directed to: AmFunded@africamutualfunds.com





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