ABAN, the Africa Business Angels Network, will seek to support startups in the smart cities and digital trade sectors.
The Africa Business Angel Network (ABAN) has announced the launch of two new thematic angel networks. The new networks will support startups developing solutions in the smart cities and digital trade sectors on the continent.
ABAN – Pan-African angel investors
Founded in 2015, ABAN is the largest pan-African organization of angel investors, representing more than 65 business angel groups with a combined 1,400 across 35 African countries as well as the diaspora.
ABAN aims to support African startups by providing capacity building, cross-border investing insights, networking opportunities, mentorships and other critical resources to help its member angel networks maximize their impact on African startup ecosystems across the continent.
According to ABAN, the organization exists to educate angel investment groups, promote the creation of new angel investor networks, create a contact point for emerging and existing networks, while supporting members in building African early stage investing ecosystems. In parallel, it seeks to engage policymakers, serving as a source of thought leadership on angel investing on the African continent.
Smart Cities and Digital Trade
The new Smart Cities and 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.
“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,” Tchoumba said.
Regional angel investing
In February, global angel network COREangels launched COREangels MEA, a MENA-focused angel investor network.