This research report is part of the Crowdfunding Information Series and the Capacity Development Lab action to support the African Foundation for Development (AFFORD). It has been prepared by a research team from The Social Investment ConsultancyAfrica (TSIC), led by Sarah Jane Danchie, Director for Africa, with support from Ahmed Umar and project assistance from Angela Boahene, Itome Edache and Zainab Kangale.