MyC4 is a new web platform that enables people to contribute to the eradication of poverty in Africa by investing in African businesses.
The idea is simple, say the founders, Mads Kjær and Tim Vang, who run the operation from offices in Copenhagen and Kampala. The site lists Opportunities, businesses in need of capital, which have been selected through MyC4’s network of Providers in Africa. Investment works on a bidding system – what the organizers describe as a Dutch auction, which basically means that the more people that are interested in investing, the more favourable the terms become for the African business. This variable interest rate, say the organizers, helps ensure that the entrepreneurs behind the most attractive Opportunities benefit directly.