Today, Thundafund and Wealth Migrate supported by Jumpstarter, other Organizations and individuals announce the launch of the African Crowdfunding Association (ACfA). The ACfA will be the industry association for Crowdfunding professionals and companies in Africa.
The goal of the ACfA is to lobby for crowdfunding legislation creation and reforms, increase public awareness, and to create a more cohesive industry structure in Africa that protects investors and democratizes access to capital for all Africans.
Crowdfunding, which has already made huge economic waves in the United States, Europe and Asia, is a method of financing or raising capital that harnesses the power of the masses, or the “crowd” to fund a project, business or endeavours, typically via the Internet. Massolution comment that “crowdfunding is expected for explosive growth.” In nations where Crowdfunding is legal, it has levelled the economic playing field, giving access to capital needed for wealth creation to women and minorities that typically are underserved by traditional capital markets.
“There is a huge wealth gap in the emerging world, and crowdfunding is a solution to close this gap,” said Scott Picken, founding member of the African Crowdfunding Association and CEO of Wealth Migrate, a global online real estate investment marketplace. “Crowdfunding can provide equal opportunity and equal access to capital that is essential for wealth creation within underserved populations. The ACfA will educate not only the public, but also the policymakers about the benefits of crowdfunding for Africa.”
Wealth Migrate and Thundafund have partnered to lay the groundwork for the ACfA and are urging policy makers and others passionate about increasing access to capital to join them.
“We see crowdfunding as the democratisation of financing for entrepreneurs,” said Patrick Schofield, CEO and co-founder of Thundafund. “Thus far we have been thrilled to see the outpouring of African and global support for African entrepreneurs that have had the courage to launch new ideas into the world. There are so many inspiring entrepreneurs in Africa who could do so much to change the world with access to capital. Crowdfunding is the next-gen solution to Africa’s development agenda”
Organizations and individuals that have given their support include:
- Realty Africa
- Realty Wealth
- Uganda Crowdfunding Network
- The Crowdfunding Institute of Australia
- The Crowdfunding Professional Association
- The China Crowdfunding Society
- The UK Crowdfunding Association
- Carl Esposti, Founder of Crowdsourcing and Massolution
- Dan Marom, renowned expert in the field of crowdfunding and author of the pioneering books, “The Crowdfunding Revolution” (2010, 2012) & “Crowdfunding: The corporate era” (2015).
- Matthew Pinter, Chairman of the Crowd Funding Institute of Australia
- Frank Mukahanana, director of the UK Crowdfunding Association
- Paul Niederer, leading authority on Investor Aggregation Solutions, Collaborative Investment and Crowdsourcing
- Ronald Kleverlaan, Co-Founder of the European Crowdfunding Network; Founder of CrowdfundingHub
- Scott McIntyre, vice president of the Crowdfunding Professional Association
- Xiaochen Zhang, Co-Founder of the Crowdfund China Society; Director at the Crowdfunding Professional Association
- Joy Schoffler, Principal of Leverage PR and CFIRA board member
One of the most exciting aspects is the support and recognition we have received from similar industry bodies around the world – that have already been through this process. Xiaochen Zhang who set up Crowdfund China Society and works on crowdfunding for the World Bank has agreed to sit on the board. Dan Marom who advised and got regulations passed by the European Union has also agreed to sit on the board. Along with all the other parties above they are providing the ACfA with a blueprint and framework which has already worked elsewhere in the world.
Contact: Kevin Allen, email@example.com