Entrepreneur Crowdfunding Platform is helping women traders raise money using technology. #40Days40FinTechs Zambia and Malawi edition, Day 39
In Zambia and Malawi, most informal cross-border businesses are owned by women and underserved groups. However, these businesses often struggle to secure funding due to strict banking requirements, lack of collateral, and limited investor trust.
This challenge forced a team of young innovators to design a crowdfunding platform to empower entrepreneurs with secure, transparent, and decentralized fundraising solutions using blockchain technology.
Dubbed the Entrepreneur Crowdfunding Platform, this platform connects startups, business women and small businesses to a global network of investors and backers while ensuring transparency, trust, and efficiency through the use of smart contracts and cryptocurrency.
“Our goal is to redefine the way entrepreneurs raise funds by providing them with direct access to capital while offering investors a secured way to support emerging businesses. By leveraging blockchain’s inherent benefits, we aim to disrupt the traditional crowdfunding industry and promote financial inclusion on a global scale,” noted Florence Mvula, the Founder of Entrepreneur Crowdfunding Platform.
Participation in Women In Fintech
The Entrepreneur Crowdfunding Platform was conceptualized during the inaugural COMESA Women in FinTech Hackathon organised by HiPipo and COMESA Business Council (CBC).
According to Sandra Habasimbi, a co-founder, the Hackathon experience was impactful, offering the team a chance to connect with fellow innovators and gain valuable insights from mentors and facilitators from different walks of life.
They were also happy to receive training on the importance and use of Mojaloop Open-source Software and Level One Project principles such as inclusivity and instant payments.
They especially expressed their gratitude to the organisers of the hackathon, which attracted 16 teams from Zambia and Malawi, for providing such a meaningful opportunity to learn and build connections.
“We would like to thank HiPipo, COMESA Business Council and the Gates Foundation for this initiative that is bringing together like-minded people to ideate and innovate, especially products that target women and vulnerable groups,” Mvula noted.
Entrepreneur Crowdfunding Platform featured on Day 39 of the 40 Days 40 FinTechs initiative; Zambia and Malawi edition. The roll-out of the 40 Days 40 FinTechs initiative in Zambia and Malawi followed its success in East Africa. Over the past 5 years, the 40 Days 40 FinTechs initiative has featured over 200 FinTech stories from Uganda, Tanzania, Kenya, and Rwanda. This initiative has also engaged hundreds of end-users and shared their stories with millions worldwide.
The primary objective of this initiative is to support and showcase innovative FinTech giants and start-ups from across Africa, with a focus on promoting financial inclusion and economic growth, in addition to giving start-ups access to the resources they need to develop new and innovative financial solutions that can benefit underserved populations. Such resources include but are not limited to Level One Project guidelines, Mojaloop Open Source Software and Inclusive Finance systems, etc.
