The Africa Business Angel Network (ABAN) has launched two new thematic angel networks aimed at supporting startups in Africa that are keen on building the Smart Cities and Digital Trade sectors on the continent.
The Smart Cities and the Digital Trade angel networks will focus on curtailing issues faced by urban cities in Africa by investing into startups offering opportunities to resolve these issues.
These networks make up the final two of four thematic networks announced by ABAN in partnership with AEDIB|Net last year, which include the Climate Smart Agriculture and Clean Technology angel networks.
Angel investor and founder of OneCart, Lynton Peters, will champion the Digital Trade Angel Network while founding Board Member of Cameroon Angels Network, Serge Ntamack, will be heading the Smart Cities Angel Network. Both initiatives are supported by ABAN President, Tomi Davies and ABAN Secretary General, Fadilah Tchoumba.
(Pic: Fadilah Tchoumba, ABAN Secretary General)
“ABAN would like to commend its angel investor networks for the work they are doing on strengthening the African Startup Ecosystem. Our network acknowledges all the catalytic contributions as mentors and angel investors in supporting startups across Africa. Our champions’ commitment to driving angel investment into African startups has made them leaders in Digital Trade and Smart Cities,” Fadilah Tchoumba announced.
A smart city is a digital ecosystem that enhances a city’s liveability, workability and sustainability. Smart cities use different types of electronic methods and sensors to collect specific data, which is then used to efficiently manage resources, services and assets. Eventually, this data proves crucial to improving operations across the city.
(Pic: Serge Ntamack, Champion – Smart Cities Angel Network)
As cities get smarter, they become more livable and more responsive – and presently, we are seeing only a preview of what technology could eventually do in urban cities in Africa.
“In my country Nigeria, over 40% of citizens are expected to be living in cities by the end of 2023. Lagos is a classic example of one of the fastest-growing urban cities. This presents a significant opportunity for angel investors interested in supporting the development of smart cities on the continent,” noted ABAN President Tomi Davies.
On the other hand, digital trade refers to commerce enabled by electronic means and covers trade in both goods and services.
Statistical data from Deloitte in Johannesburg, South Africa show correlations between African countries with very low internet access, and low levels of income, health and education, suggesting a connection between socio-economic development and digital/mobile phone usage.
(Pic: Lyndon Peters, Champion – Digital Trade Angel Network)
“Digital trade in Africa holds immense potential to drive economic growth and empower local entrepreneurs by providing access to global markets. As the continent invests in digital infrastructure and its population becomes tech-savvy, digital trade is expected to grow exponentially. Advances in mobile technology and financial inclusion support e-commerce expansion, unlocking opportunities for job creation, poverty reduction, and economic diversification. E-commerce will play a crucial role in shaping African commerce, fostering local and regional integration,” stated Lynton Peters.
Within three decades, Africa will be home to an approximated 2.4 billion people, which is more than double the current population, and the majority of these people will move to urban areas/cities. The proportion of Africans residing in urban settlements is set to grow from 40% (in 2010) to 60% (in 2050) representing the highest urbanisation rate globally, exceeding that of China.
Additionally, Africa’s Digital Transformation Strategy (2020-2030) recognizes the potential of innovation and digital technologies in the creation of an inclusive and integrated economy. Through the harmonisation of regulations, policies and legislations, it is expected that Africa will accelerate digital transformation and socio-economic integration to build a secured Single Digital Market by 2030 in line with Africa’s Continental Free Trade Area.
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About ABAN:
African Business Angel Network (ABAN) is the largest pan-African organisation of Angel investors in Africa. Established in 2015, ABAN represents the growing number of business angel groups in the African early-stage ecosystems’ future, providing vital human and financial capital to African startup companies creating jobs across the continent. Today ABAN is a 65-member network with a presence in 35 African countries and the Diaspora representing over 1400 angel investors.
ABAN and Afrilabs spearhead the Catalytic Africa matching fund. Get funding unlocked in 3 weeks. Update your profile or Register on https://catalytic-africa.com/ to kickstart your application process. Follow Catalytic Africa on Twitter, https://twitter.com/AfricaCatalytic, for more details.
About AEDIB|NET:
African European Digital Innovation Bridge Network (AEDIB|NET) is the first step of a broader approach to the African-European collaboration on digitalization and innovation. The project, launched under the broader political initiative AEDIB, was initiated by EU Member states (France, Belgium and Germany) and the European Commission to the EC’s Digital Development process (D4D). AEDIB|NET brings together a network of strong partners from Africa and the European innovation ecosystem with the aim of inspiring the ecosystem actors by developing a supportive innovation policy framework for innovation, building the capacity of marginalised groups and enhancing digital and entrepreneurship skills via Digital Entrepreneur Skills Academy.
