How Crowdfunding Strategies Create Ventures in Africa

The World Bank estimates 600 million jobs need to be created by 2030 to meet the needs of a global workforce. Ventures and entrepreneurs represent about 90% of the workforce. Yet, only 50% of entrepreneurs have access to formal credit. The situation is much worse in Africa (20% in Uganda). Crowdfunding is an alternative to a formal banking system. The article generates eight insights and explains how crowdfunding strategies (debt, reward, donation, and equity) could create ventures and help them seek growth, expansion, and internationalization funding and ultimately become sustainable entrepreneurs.