To date, ABAN has a presence across all 54 African countries on the continent with established Angel groups in 33 of those countries. We are spread through 68-member networks with over 1400 individual Angel Investors.
Looking at the African continent as a whole, the emerging countries in terms of entrepreneurship are Nigeria, South Africa, Egypt, and Kenya have been at the forefront of the African startup ecosystem, particularly in the fintech and health tech sectors. Nigeria’s tech scene in cities like Lagos is especially vibrant, driven by a large, youthful population and a growing middle class. South Africa, Kenya, and Egypt also have strong tech hubs in Johannesburg, Cape Town, Nairobi, and Cairo.
However, smaller countries like Rwanda and Ghana are also gaining traction. Rwanda, for instance, has made significant strides in creating a business-friendly environment and has focused on sectors like technology and healthcare.
In terms of financial capital, Africa has seen growing interest from both local and international investors. The African tech ecosystem raised billions in investment in recent years, with fintech usually leading the charge.
Human capital is abundant, with a large and growing youth population that is increasingly well-educated and tech-savvy. Initiatives like the African Institute for Mathematical Sciences (AIMS), Semicolon, and Andela are contributing to talent development in tech and other sectors.
So, while challenges remain, including infrastructural and regulatory hurdles, Africa’s potential for innovation and entrepreneurship is significant.
