Crowd-funding key for Africa’s future

Crowd-funding key for Africa’s future

Feb 9, 2016

African businesses are struggling to scale and grow businesses due to lack of funds. This is where global crowd-funding platforms come in.

Attracting funders from around the world, platforms such as Malaik channels the funds it raises to small and medium sized enterprises (SME) around the African continent.

“Young companies all over Africa face a scarcity of funds to fuel their growth,” founder and CEO, Neku Atawodi, said in a statement – something the platform is trying to change.

Atawodi believes that there is no shortage of good, actionable ideas in Africa but investors are deterred by the risk associated with the continent.

“The African narrative is changing for the better, and the continent’s exponential growth in the last decade shows that an investment in impact focused African businesses can yield high returns.”

As testament to this, Malaik will be showcasing its first fully funded company, i-Drop, at FinovateEurope 2016 later this week. Malaik will be the only African company demonstrating a product at the conference.

Not content with one success, Malaik has issued a call to all African start-ups and SMEs with high-impact and original ideas to apply and start vying for potential investors.

By Brendyn Lotz for www.htxt.co.za