International Journal of Research in Finance and Management
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E-ISSN: 2617-5762|P-ISSN: 2617-5754

2023, Vol. 6, Issue 1

Determinants of crowdfunding success in Ghana

Musah Mohammed Saeed

Crowdfunding permits cultural, social, health, economic or for-profit initiatives that are marketed on the internet by individuals or groups of persons seeking financial assistance to raise funds from a broad pool of small-scale investors. In Ghana, the concept of crowdfunding is not particularly new. In recent times, various start-ups such as Kwidex, Crowdrica, and Payputt have been established as global crowdfunding platform through which people can donate to fund various projects. Like most social activities, various projects will have different success and this may be largely explained by the intentions of people to donate. However, there is no available data in Ghana to explain why crowdfunding projects fail or succeed. This study therefore sought to explore the determinants of crowdfunding Success in Ghana. The study relied on descriptive design within the quantitative framework to explain determinants of crowdfunding Success in Ghana. The study gathered 185 data from respondents that have contributed to crowdfunding campaigns. The data showed a higher shared identification with interpersonal connectivity, higher influence of recommendations, and moderate challenges as measured by the instrument. The paper recommends a less complex system of payment and also for facilitators and regulators to examine strategies to assist creators in developing realistic objectives for the projects.
Pages : 137-151 | 394 Views | 190 Downloads
How to cite this article:
Musah Mohammed Saeed. Determinants of crowdfunding success in Ghana. Int J Res Finance Manage 2023;6(1):137-151. DOI: 10.33545/26175754.2023.v6.i1b.206
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