African Business Angel Network (ABAN) is the largest pan-African organization 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.
“The African continent is home to a rapidly growing startup ecosystem, with an increasing number of entrepreneurs seeking funding for their innovative ideas. This need is being met in part by the growing number of local African business angels who are now investing professionally and consistently in these startups by providing mentorship, advice, funding, and business connections to entrepreneurs in the early stages of their startup development.
Last year, startups on the continent raised a disclosed amount of $ 5 billion out of which $400,000 million was a direct contribution from local business angels. It is real and it is happening. African Business angels are playing an important role in the African startup ecosystem.” Fadilah Tchoumba, CEO, ABAN
With the success stories such as Andela, Paystack, Flatterwave, Chipper, Wave, and more recent Tunisia-based AI InstaDeep exiting at $684million – the notion of business angel investing is becoming more popular among African professionals, successful entrepreneurs, and founders. This group of individuals – who have the means, skills, and risk appetite – are eager to support the next generation of entrepreneurs and invest in African start-ups to help accelerate Africa’s economic development.
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 and we look forward to spreading our wings further in the African continent.
