Raising funds in any market is crucial to business survival. In developed markets, crowdfunding sites like Indiegogo and Kickstarter have seen projects funded by the public. This has been the envy of the African continent.
In Africa, entrepreneurs who fail to raise funds for their project through bank loans and investments have traditionally tended to find a listening ear from friends and mostly family. This is because online options to raise funds were previously quite limited.
Have you tried our banana bread bunny chow?” asks Michael de Klerk, who with business partner Anthony Gird founded Honest Chocolate. The brand’s first café is housed in a heritage building on Wale Street, Cape Town. Inside the “bunny chow”, simply a tall muffin, is a dollop of the raw, artisanal chocolate for which they are famous. At the café, patrons indulge in chocolate in a variety of forms — in tarts and pastries, drinks and in their signature raw cacao bars wrapped in beautifully illustrated covers. What makes the café remarkable is that it was crowdfunded, in part.
Think crowdfunding: With an estimated 1.3-billion people with regular internet access globally, the number of potential investors that can be reached is large, writes Zukiswa Zimela for Business Day Live.
WHEN the Labia Theatre in Cape Town needed to buy new cinema equipment to move from analogue to digital film screening, it partnered with ThundaFund to ask strangers to help them raise a portion of the money to buy the equipment. Continue reading
takes the ‘Life’ front page feature for crowdfunding assisting start-ups.