When people give money to charity, they hope that it’ll be used in a meaningful way. Rewards-based crowdfunds works differently, you get something in return for your donation.
South Africa is the power-house of the African continent when it comes to crowdfunding. In 2017, over R20 million was raised on various campaigns through the Thundafund platform.
Thundafund is a channel through which new businesses test and launch their products. Many South African brands have had huge success using this method of crowdfunding to benefit their businesses and projects. Below are four examples of successful campaigns launched in 2017.
The Sugarbird Gin Campaign is a poster child of how it should be done. The rewards-based platform allows people to make donations and in return, receive a thank you or a product. People who took part in the Sugarbird Gin crowdfund were sent the first batch of gin by the company.
Take a look at the top 4 most successful campaigns below.
Sugarbird Gin raised an astounding R1 086 973.00 with their introduction to the South African market. With contributions from 155 backers, their campaign proved that despite gin drinkers being spoiled for choice, there is still plenty of space in our emerging economy to accommodate new ideas through innovative funding options. Hashtag #Ginning!
The arts, music and design sectors have seen the most success through crowdfunding in South Africa.
The ‘Fokof crowdfunding’ campaign launched by Belville rockers, Fokofpolisiekar gained quick public interest. The campaign to independently release their first album in 11 years, Selfmedikasie, broke records, more than doubling their initial dream goal of R500 000 in the first week, raising R1 081 010.00 in total.
Thundafund also proved their weight in the charitable space, with a project to build toilets for Mzondi informal settlement. The budding community compromising of over 300 units, faced a major hurdle and health concerns with only 4 rudimental lavatory facilities catering to over 400 people. With R68,890 20 raised in March 2018, a long-term solution to their long-drop was put in place by campaign creators Nyoni Mazibuko & Katlego Mohlabane, so residents no longer have to endure long queues, unnecessary embarrassment, exposure to the elements and children no longer have to fear injury when using the loo.
For the 20th edition of the Encounters Documentary Film Festival, the premier documentary-centred festival in Africa showcasing tremendous talent in International, African and South African Documentary films. With the support of 110 backers, R128,350 was raised to ensure the festival went without a hitch last month.