The Africa Business Angel Network (ABAN) has launched two new angel networks to support startups in Africa’s smart cities and digital trade sectors. ABAN is the largest pan-African organization of angel investors, comprising more than 65 business angel groups with a combined 1,400 across 35 African countries, founded to support the development of early-stage investor networks.
Launch in 2015, ABAN began as a consortium of independent investor networks including the Lagos Angels Network (LAN), Cameroon Angel Network (CAN), Ghana Angel Network (GAIN), Venture Capital for Africa (VC4Africa), Silicon Cape, and supported by the European Business Angel Network (EBAN) with a mission to help quantum leap early stage investing in Africa by providing the support, networking opportunities, and essential resources to Africa’s Angel Investing Networks needed to maximize their impact.
Furthermore, the Smart Cities and Digital Trade angel networks will focus on resolving issues faced by urban cities in Africa by investing in startups that offer solutions to these problems. These networks comprise the final two of four thematic networks announced by ABAN in partnership with AEDIB|Net last year, including announced by ABAN in partnership with AEDIB|Net last year, which include the Climate Smart Agriculture and Clean Technology angel networks.
ABAN Appoints Managers for its two New Angel Networks
The Digital Trade Angel Network will be championed by angel investor and founder of OneCart, Lynton Peters, while the Smart Cities Angel Network will be headed by founding Board Member of Cameroon Angels Network, Serge Ntamack. Both initiatives are supported by ABAN president, Tomi Davies, and ABAN secretary-general, Fadilah Tchoumba.
ABAN secretary-general, Fadilah Tchoumba, praised the angel investor networks for their work in strengthening the African startup ecosystem, acknowledging their catalytic contributions as mentors and investors. “ABAN would like to commend its angel investor networks for their work 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.”
The new angel networks are expected to provide crucial support to startups in the smart cities and digital trade sectors, addressing some of the challenges faced by urban areas in Africa. The move is part of ABAN’s broader efforts to enhance early-stage investing in Africa by providing essential resources, networking opportunities, and support to the continent’s angel investing networks.