It may seem very difficult obtaining funds in other to start your own business, but the truth is this; funds sourcing in Nigeria and Africa is difficult because of the gap in information, don’t think you can’t get funds, you can get it, however it all depends on where to look, which boils down to information.
What is source funding
Source funding is basically looking for money, usually to start something like a business, for charity and other projects requiring money or funds
Ways To source for funds
1. Apply to Foundations. From time to time foundations which are created by some sectors like telecommunication, Banks, and some NGOs funds project which has potential to excel, if you’re applying to foundations for funds you need to make sure your project is very good and has potential to excel, remember you’re not the only one applying.
Examples of Foundations
* MTN Foundation. MTN are group of companies, which is best known for it’s telecommunication arm, arguably the leading network in Africa, MTN has set aside 1% of their income to help people like you realize their dreams, by helping you get money to start up any thing which can empower you and also help the society.
However you have to make sure your project is good, and has potential, to make profit and impact positively to the society, if you’re in Nigeria e-mail them MTNFOUNDATION@mtnnigeria.net, if you not in Nigeria please apply to MTN Foundation
Note. MTN Foundation is available in this countries South Africa, Nigeria, Kenya, and other countries where MTN operates
* Mike Adenuga Foundation This foundation was set up by Mike Adenuga the CEO of Globacom telecommunications to cater to the needs of inventors and entrepreneurs, which includes you if you have the right project, MAF is active in this sectors; sports development, poverty reduction, supports entrepreneurs and other great projects. Some of it’s main aims are:
* Development of Sports: Supports and sponsors National teams of Nigeria and Ghana, Confederation of African Footballer of the Year Awards, and the Lagos Nigeria International Marathon.
* Alleviates Poverty: Partnerships with governments and other public sector development commissions and individuals to help unemployed youth establish their own business.
If you’re in Nigeria e-mail them firstname.lastname@example.org, or visit Mike Adenuga Foundation if you are not in Nigeria.
MAF is available in countries where Glo operates.
2. Online Crowdfunding.
You can also source for funds yourself, how? By joining online crowdfunding websites. Online or Internet crowd funding sites are websites created to help entrepreneurs achieve their aim, you simply register, create your project which is not difficult, publish it, wait for approval once approved, the money starts coming in and it’s free you don’t pay a dime.
For full understanding of crowdfunding and the full list, including their payment methods, and how to go about it, please read Internet crowfunding for beginners