Start-ups find financing online

According to the tech site, Ticmag.com, between 2009 and 2014, over 100 million FCFA have been raised on the internet via Crowdfunding (a participatory financing system on the internet) by young Cameroonian promoters in ICT, who were facing difficulty sourcing financing using traditional channels.

Among the five projects that have benefited from the financing, there is Aurion, the first Cameroonian-made video game which was designed and carried by Olivier Madiba’s Kiro Games. The Cameroonian start-up raised over 70 million FCFA using crowdfunding on the web.

Other projects such as the digital wallet, “Pursar”, created by Cameroonian national Otto Isong or the webzine Afropolitain were successfully launched using Crowdfunding. According to Cameroonian blogger, Dorothée Danedjo, this makes Cameroon the third most successful crowdfunding country behind South Africa and Kenya.