How African Crowdfunding Projects Raised R1.7 Billion Last Year
Last year, over R1.7 billion was raised for crowdfunding projects in Africa and the number of crowdfunding platforms and project success rate is showing a lot of promise.
This is according to the Afrikstart Crowdfunding in Africa Report, which analyses the industry’s performance of last year.
African vs Foreign-based projects
In 2015, there were 57 active crowdfunding platforms headquartered and operating in Africa (21 donation based-platforms, 19 equity platforms, 13 rewards-based portals, two peer-to-peer lending platforms, and two hybrid platforms).
These platforms hosted 4 939 crowdfunding campaigns which raised an estimated total of $32.3 million (R438.6 million) in funding.