Key regions: Germany, Brazil, Australia, Israel, United States
The Crowdfunding market in Zambia has been steadily developing in recent years, driven by customer preferences for alternative financing options and the increasing popularity of online platforms.
Customer preferences: Zambian consumers are increasingly looking for alternative financing options to traditional banks and lenders. Crowdfunding provides an accessible and convenient way for individuals and small businesses to raise funds for various purposes, such as starting a business, funding a project, or supporting a cause. The ease of use and the ability to reach a large number of potential backers through online platforms have made crowdfunding an attractive option for many Zambians.
Trends in the market: One of the key trends in the crowdfunding market in Zambia is the rise of donation-based crowdfunding. Many Zambians are using crowdfunding platforms to raise funds for charitable causes and community projects. This trend is driven by a strong sense of community and a desire to make a positive impact on society. Additionally, reward-based crowdfunding is also gaining popularity, with individuals and small businesses offering unique products or services in exchange for financial support.
Local special circumstances: Zambia has a growing entrepreneurial ecosystem, with many individuals and small businesses seeking funding to start or expand their ventures. However, traditional financing options are often limited and difficult to access, especially for those without a strong credit history or collateral. Crowdfunding provides an alternative avenue for these entrepreneurs to raise the necessary capital to turn their ideas into reality.
Underlying macroeconomic factors: The development of the crowdfunding market in Zambia is also influenced by several macroeconomic factors. The country has experienced relatively stable economic growth in recent years, which has contributed to an increase in disposable income and consumer spending. This has created a favorable environment for crowdfunding campaigns, as individuals have more financial resources to support projects or causes they believe in. Furthermore, the widespread use of mobile phones and internet access has made it easier for Zambians to participate in crowdfunding campaigns. Mobile money services, such as Airtel Money and MTN Mobile Money, have made it convenient for individuals to make financial transactions and contribute to crowdfunding campaigns using their mobile phones. This has significantly expanded the reach of crowdfunding platforms and increased the potential pool of backers. In conclusion, the Crowdfunding market in Zambia is developing due to customer preferences for alternative financing options, the rise of donation-based and reward-based crowdfunding, the need for funding in the local entrepreneurial ecosystem, and the underlying macroeconomic factors such as economic growth and increased access to mobile phones and internet. As the market continues to evolve, it is expected that more individuals and businesses in Zambia will turn to crowdfunding as a viable financing option.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
