dc.description.abstract | Purpose – Crowdfunding is a viable alternative to access finance to overcome the limited
capital problem among developing countries. Despite the low rate of crowdfunding adoption in
Africa, there is a dearth of literature on the continent, specifically on adoption drivers and
behavioural intentions. This thesis aims to investigate the drivers of crowdfunding adoption
intentions in Africa and fully understand the impact of awareness on crowdfunding, both as an
antecedent and a dependent variable.
Design/Methodology/approach – The hypotheses developed are based on the extended theory
of planned behaviour by incorporating the challenges highlighted in previous conceptual
papers. This study utilises an approach based on quantitative research. An online survey was
administered that collected data from 471 respondents in Tanzania. The authors further used
PLS-SEM for analysis and implemented several quality tests to ensure the robustness of the
results.
Findings – The empirical results in this study reveal that attitudes and interests towards
crowdfunding and prior contribution experiences are the crucial drivers of crowdfunding
contribution intentions. Furthermore, education and training, as well as subjective norms, play
an essential role in increasing crowdfunding awareness. Also, crowdfunding awareness was
found to have a positive and significant influence on interest, self-efficacy, and perceived
behavioural control. Finally, awareness, interest, perceived IT infrastructure and social trust
had a favourable impact on attitude towards crowdfunding.
Originality/value – First, the study provides empirical insight into the crowdfunding concept
in the sluggish growth context. Second, it clarifies the impact of awareness on crowdfunding,
both as an antecedent and dependent variable (identification of effective strategies for
increasing awareness among potential backers). Third, it further helps to refine existing models
and develop new ones that better reflect the unique characteristics of different regions.
Keywords Crowdfunding, Theory of planned behaviour, Awareness, Adoption, Intentions,
Africa, Tanzania. | |