In many African countries, its difficult to access funding. The concept of crowd funding is fairly new in the continent. the key objective today was for the audience to share information, to add new campaigns on the one percent website and raise first euros for the campaigns. Cheetah Fund are planning to give 400,000 euros (about 40,000,000 KES) in funding to 100 African initiatitives and projects that are planning to raise between 250 euros and 15,000 euros… so long as they are able to raise 30% of the amount they want within 30 days. https://www.onepercentclub.com/en/#!/pp/cheetah
“The crowdfunding industry has grown exponentially over the last five years, helping people raise billions in funding for everything from donations for personal art projects to equity financing for businesses.” Says Chance Barnett CEO Crowdfunder.com
As the founder of a crowd sourcing company, Mr. Chance speculates that the online sourcing of funds is on a steady growth path having transacted more than $5.8 billion in 2013. He also admits that the crowdfunding concept is still a new concept (about 5 years old). He also names a few other websites that allows you to source for funds E.G. indiegogo and Kickstarter(where Kenya’s iHUB BRCK hard sourced for funding).
With the success of Ushahidi, in sourcing $125,000( 10 million) for the development/manufacturing of BRCK and getting over $172, 107 from the kickstarters. They were giving rewards in terms of T-shirts, canvas accessories and a safari to Kenya for the person who pledged more than $10,000. This was way back in June 2013.
So what are you waiting for Africa, get your project on a crowd funding platform and get funding.
By Neville Mugambi.