How startups can unlock alternative capital for their operations

Africans give a lot to churches and mosques, and this money can be channeled to fund businesses that would have a positive impact in their societies. [iStockphoto]

The Chief Executive of Africa Venture Philanthropy Alliance (AVPA), Dr Frank Aswani, holds a wild thought on domestic capital mobilisation for entrepreneurs: If churches can build hospitals, schools and run them profitably, why can’t they also invest in startups?

According to his observation, this is one of the funding avenues that economies like Kenya can pursue, instead of relying on foreign inflows.  This money, while always available, is not suitable for economies on the continent, he says.