Crowdfunding in the African Context: A New Way to Fund Ventures

Abstract

Attracting funding for developing a venture is a challenge that is often faced by entrepreneurs, especially with the difficulties experienced with traditional forms of financing. An alternative funding form is through the use of crowdfunding which involves the contribution of the public to the venture using a crowdfunding platform to present the call. Despite challenges associated with it, crowdfunding has potential for assisting entrepreneurs within the African context. This chapter outlines how crowdfunding works and provides examples of current African crowdfunding platforms.