A Synthesis of Crowdfunding Concepts in the Ghanaian Context: Crowdfunding Information Challenges in Ghana

Francis Kwaku Kuma (), Mohd Effandi Bin Yusoff () and Paul Kwasi Apreku-Djan ()
Additional contact information
Francis Kwaku Kuma: Universiti Teknologi Malaysia
Mohd Effandi Bin Yusoff: Universiti Teknologi Malaysia
Paul Kwasi Apreku-Djan: Koforidua Technical University

Journal of the Knowledge Economy, 2024, vol. 15, issue 1, No 18, 435-460

Abstract: Abstract Insufficient access to capital is a major challenge that threatens the formation of university spin-off companies in most sub-Saharan African countries. This stems from the fact that there is restricted access to start-up capitals for businesses in these countries. The study, thus, aims at suggesting crowdfunding as an alternate source of funding for university spinoff formation particularly in Ghana. Using Asymmetric Information and Social Networking theories, this paper highlights the relevance of these two theories to crowdfunding particularly in Ghana. A qualitative research method was used to conduct the study, and a semi-structured interview was used during the data gathering process. The findings suggest that though crowdfunding is a fairly new concept in Ghana, it is similar to Susu, which is a Ghanaian traditional microfinancing concept and therefore has a high acceptability rate. Similarly, the findings suggest that information asymmetric plague the smooth operations of the crowdfunding concept in Ghana.

Keywords: Crowdfunding; Susu; University spinoffs; Information asymmetric (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s13132-022-01062-2 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jknowl:v:15:y:2024:i:1:d:10.1007_s13132-022-01062-2

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/13132

DOI: 10.1007/s13132-022-01062-2

Access Statistics for this article

Journal of the Knowledge Economy is currently edited by Elias G. Carayannis

More articles in Journal of the Knowledge Economy from Springer, Portland International Center for Management of Engineering and Technology (PICMET)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().