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An integrated online/offline social network-based model for crowdfunding support in developing countries: The case of Nigeria

Ogwu, Kanayo; Hickey, Patrick; Okeke, Okeoma John Paul; Haque, Adnan ul; Pimenidis, Elias; Kozlovski, Eugene


Kanayo Ogwu

Patrick Hickey

Okeoma John Paul Okeke

Adnan ul Haque

Eugene Kozlovski


This paper is one of the first attempts to address the fundamental barriers to the adoption of online crowdfunding mechanisms in a developing country by offering a new online/offline fundraising model. The focus is on Nigeria as a typical example of an environment that, unlike that in the developed world, is not fully conducive to social networking as a crowdfunding platform due to both economic and technological issues. Using a mixed research method, the study first compares the state of the art in crowdfunding in a developed and developing economy by interviewing two groups of 20 entrepreneurs from the UK and Nigeria, respectively. The differences between those in terms of crowdfunding facilitation are identified, and propositions for the Nigerian market are formulated. These are then tested statistically by surveying 160 randomly selected Nigerian fundraisers. Based on the outcomes of the thematic analysis and statistical modelling, a unique integrated online/offline crowdfunding model is proposed. It is particularly aimed at supporting entrepreneurial activities and related policymaking that can have a key impact on further social and economic development of these countries. The proposed model can be considered as an alternative novel fundraising instrument in regions where socioeconomic and technological challenges inhibit the adoption of traditional crowdfunding approaches.


Ogwu, K., Hickey, P., Okeke, O. J. P., Haque, A. U., Pimenidis, E., & Kozlovski, E. (2022). An integrated online/offline social network-based model for crowdfunding support in developing countries: The case of Nigeria. Sustainability, 14(15), e9333.

Journal Article Type Article
Acceptance Date Jul 18, 2022
Online Publication Date Jul 29, 2022
Publication Date Jul 29, 2022
Deposit Date Aug 19, 2022
Publicly Available Date Aug 19, 2022
Journal Sustainability (Switzerland)
Electronic ISSN 2071-1050
Publisher MDPI
Peer Reviewed Peer Reviewed
Volume 14
Issue 15
Pages e9333
Keywords SMEs, crowdfunding, social media, entrepreneurship, fundraisers, developing countries
Public URL
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