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Realty Africa Zimbabwe’s platform went live at the beginning of this month becoming the first crowd-funding entity to offer property crowd-funding in Africa, businessdigest has learnt.
Crowd-funding is the practice of funding a project or venture by raising monetary contributions from a large number of people, usually through the internet.
Realty Africa Zimbabwe country representative Lindah Mbidzo told businessdigest this week that by going live, property developers could now apply on the platform.
It hasn’t made great strides into Africa yet, but some companies are taking tentative steps. Property crowdfunding, in which developers attempt to cash in on the potential of ‘the crowd’ to raise money for developments, is starting to attract global attention
The total global crowdfunding industry is a multi-billion dollar industry and the industry is growing at a fast pace of over 50% a year. Crowdfunding came into existence as an alternative to traditional financing models and it allows many individuals to financially support a cause as a group by each contributing a small piece of the pie. This model fits many different purposes from charity, supporting companies or financing projects.
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