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A Ghanaian start-up, Slicebiz, which plans to popularize crowdfunding in Africa is among the winners of the Apps4Africa competition. It will develop a service that will deliver 30-second pitches recorded by entrepreneurs to potential investors over the phone. Founded by Ghana-based businessman William Edem Senyo, SliceBiz is adapting the crowdfunding model popular in the West through online services Kickstarter, Indiegogo, and GoFundMe, among others. Those who buy into the pitches will be able to transfer cash ranging from US$250 (via mobile devices) and $100,000 (via traditional banking means) to fund projects they want to support. Funded by the US State Department and the World Bank, Apps4Africa gives awards of $US10,000 to 3 selected projects, with the possibility of top-up funds if winners meet set targets. The crowdfunding initiative taps people with disposable income who want to see how they can use their funds for better use.
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