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A study on the social and economic sustainability of rewards-based crowdfunding in Africa

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  • Joseph Ochieng Onginjo

    (University of Electronic Science and Technology of China)

  • Zhou Dong Mei

    (University of Electronic Science and Technology of China)

Abstract

Crowdfunding in Africa is unique due to the unstable but budding macro-environment that enables offline backer contribution that fosters project success. This paper explores the reward-based crowdfunding macro-environment factors that motivate and demotivate backer contribution towards crowdfunding with a focus on Information Communication Technology Infrastructure, Social Capital, and Backer Identity fostered by the Geographical Location. We also offer solutions for improving rewards-based crowdfunding in Africa to ensure social and economic sustainability. The results of our predictive analysis reflect that creativity-oriented projects are the project categories with the highest success rate in Africa. The findings of this paper also shed light on the fact that the success of crowdfunding projects in Sub-Saharan Africa hinges on a type of hybrid model involving the "offline" community of backers.

Suggested Citation

  • Joseph Ochieng Onginjo & Zhou Dong Mei, 2023. "A study on the social and economic sustainability of rewards-based crowdfunding in Africa," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(9), pages 9619-9646, September.
    • Handle: RePEc:spr:endesu:v:25:y:2023:i:9:d:10.1007_s10668-022-02451-y
    DOI: 10.1007/s10668-022-02451-y
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