Startups in Namibia will soon have a new Business Angel Investor Network to select investors from. In early March, early-stage investors will come together in Windhoek, Namibia ’s capital to celebrate the launch of the Namibian Business Angel Investor Network (NABAN).
“Angel investors play a key role in all successful entrepreneurial ecosystems and angel groups and investor networks need to be encouraged. A major focus for ABAN is to educate angel investors and support them with the tools and knowledge they need to make effective early-stage investments,” president of African Business Angel Network (ABAN), Tomi Davies
Here Is All You Need To Know
- The Namibian Business Angel Investor Network (NABAN)’s launch will open its doors with a series of events including an informal information session with relevant parties in the ecosystem as well as a full-day masterclass with the founding members.
- New networks launch regularly, with the help of the African Business Angel Network (ABAN), with the most recent launches West Africa-focused, in Mali, Benin Senegal, and The Gambia, for example.
- There are also groups forming outside of traditional hubs, including the SSE Angel Network, which backs startups in the South-South/South-East regions of Nigeria. All-women angel networks are also launching, like the Lagos-based Rising Tide Africa and Cape Town’s Dazzle Angels.
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The basic concept of angel networks is to bring together high net worth individuals in different markets and have them pool funds and expertise to make investments in early-stage companies.
- All these events are organised by the Greentec Capital Africa Foundation in partnership with ABAN with the support of GIZ, the German Development Cooperation on behalf of the German Government. The masterclass will be conducted by long-time investor and president of ABAN, Tomi Davies, with an introduction by Thomas Festerling, co-founder of Greentec Capital.
- The Lagos Angel Network, set up in 2012, was an early forerunner of a group of leading networks that also includes Cairo Angels in Egypt, Jozi Angels in South Africa and the Viktoria Business Angels Network in Kenya.
The African Business Angel Network (ABAN) has been one of the pivotal drivers behind this shift. Formally established as a non-profit organisation in 2015, its mission has been to increase the quantity and quality of Angel groups and investors active in African early stage investment markets.
ABAN has organised, co-organised, supported and addressed dozens of events since its formation. This activity has revolved around a clarion cry to understand and invest in the “African Opportunity”.
For the African diaspora and investors resident on other continents, this means showcasing the forecasted trajectory of Africa’s economic growth and the high calibre of existing start-ups. In other words, raising awareness of of the opportunity to invest in African start-ups, now, on the continent forecast to have the greatest economic growth over the next 20 years.
For potential and existing investors in Africa, the opportunity is the same, but the call to action is to lead and not wait for international investors to come to Africa. Improving know-how, connecting networks, mentoring new investors, shaping policy and encouraging greater levels of investment are all part of growing a stronger culture of Angel Investing in Africa.
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com