Africa Gets Crowdfunding Association

Wednesday, December 2, 2015

The African Crowdfunding Association (ACfA) has been launched as a way to lobby for the creation of crowdfunding legislation on the African continent.

The ACfA hopes to increase public awareness about crowdfunding, and create a more cohesive industry structure in Africa that protects investors and democratises access to capital for all Africans.

South African online crowdfunding start-up,Thundafund, and SA-based international online real estate investment marketplace, Wealth Migrate, have partnered to lay the groundwork for the ACfA. The companies are urging policy-makers and those passionate about increasing access to capital to join them.

“We see crowdfunding as the democratisation of financing for entrepreneurs,” says Patrick Schofield, CEO and co-founder of Thundafund.

Crowdfunding involves raising funding for a project from a large number of people, typically via the Internet, and has already found success in the United States, Europe and Asia.

Massolution’s 2015 crowdfunding industry report predicts the global crowdfunding market will reach $34.4 billion (R495 billion) in 2015, and is set for continued explosive growth.

Source: ITWeb (link opens in a new window)