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How crowdfunding can help boost startups in Tanzania

Chris Y Ngonyani

Financial Analyst
Staff member
How crowdfunding can help boost startups in Tanzania


By Gadiosa Lamtey
What you need to know:
Crowdfunding is the financial model that supports new ventures by using the Internet to solicit and aggregate small monetary contributions from many funders
Dar es Salaam. One of the challenges facing those with startups is to fail to get loans from banks and financial institutions due to lack of collateral.
As a result of this, many innovations that could have provided solutions in various sectors end up undeveloped.
To overcome the challenge, Mzumbe University has come up with a new research project aimed at finding new methods to help the youth in Tanzania access funds for business startups via the Internet known as crowdfunding.
According to young people, most of them are ‘walking’ with ideas because they do not have the money to develop them and they say that if the platform starts being introduced, it would be of great use. read more
 
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