Crowd Funding is Native to Africa

Crowd Funding is Native to Africa

January 4, 2017

One of the most beautiful things about Africa is the value we have for family and community. When we give birth we do not have to pay nannies, our mothers-in-law are there for us. When we want house helps, we can readily get distant cousins from our home towns (at least when I was growing up). When we want to school abroad the village chief calls a meeting and everyone contributes to send us to school in the hopes that we will make the village proud at the end of the day. When we want to start business all we need to do is work for Uncle Okoro for a few years and he will set us up (happens in Nnewi). Community is a concept native to Africa. These days we are becoming more western, more individualist, focusing more more on our nuclear families. It could be a culture shift or just a response to economic pressure. In the mean time the west is re-defining the concepts of community through such innovations as Social Media, Crowd Funding and even Bitcoins. So many things can be achieved faster when people come together. This is largely an African ideology.

Crowd Funding allows one to get support for a projects or startup using small amounts of money from a large number of people. Think about it. You want to build a bore hole for your community and you need GHC2000.00 and no charity is willing to give you that amount at a go. However you do have a thousand Facebook friends from all over the world who trust you and can afford to give you the equivalent of GHC2.00 each in any currency. Your project is done! You have a business proposition which borders on Social Entrepreneurship. You may want to start an Orphanage or an Old People’s Home and you need GHC10,000.00 seed capital. One hundred of your friends who also have one hundred friends you can raise GHC100,00.00 at GHC1.00 per person depending on your determination.

Now let’s go to two key questions: WHY and HOW?

Why would ten thousand people give you GHC1.00 each? Because they trust you. Family and community are based on love and trust. Trust is a powerful concept that binds Africans together. They trust that you will actually do the project not buy a car. They trust that you will let them know when and how the project is done. They also trust that where applicable you will somehow let them benefit from the returns of your project,

How can you achieve this Crowd Funding? You definitely cannot go around with a basket asking all your friends for GH1.00 each. Besides they would definitely be embarrassed that all they can give you is GHC1.00. The answer lies in an online platform and https://ventsell.com/ is one of such platforms. Do not waste another second. Start a project this month.

https://ventsell.com #CrowdFunding #Events

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