It was a fitting homecoming for Africa’s startup sector. Ten years after ABAN was born to unite early-stage investors across the continent, the movement returned to where Africa’s entrepreneurs thrive the hardest, Lagos.

The 2025 ABAN Annual Congress, themed “Accelerating Local Capital Participation,” gathered hundreds of founders, investors, policymakers, and ecosystem enablers to tackle the question of “Who really funds Africa’s future?”

Representing Governor Babajide Sanwo-Olu, Mrs Folashade Ambrose-Medebem, Lagos State commissioner for Commerce, Cooperatives, Trade and Investment, described the city, with 23 million people and more than 2,000 active startups, as a living, breathing symbol of African ambition. 

“Lagos stands as the commercial heartbeat of Africa and a city of boundless enterprise, boundless resilience and boundless innovation,” she said, welcoming the continent’s top angel investors.

She also noted the city contributes over 30% to Nigeria’s GDP and houses 65% of its industrial activity, but its actual power lies in what it’s building, a model megacity driven by innovation, not just infrastructure.

Through reforms, Lagos has simplified business registration, created startup funds, and is now developing the Lagos State Medical Innovation Industrial Zone, Ikorodu Industrial Hub, and a new International Convention Centre.

“Beyond the numbers, Lagos State is a story of determination, creativity, and possibility,” Ambrose-Medebem said. “It is where ideas become industries and where vision meets execution.”

Osinbajo: Believe Before You Build

Prof. Yemi Osinbajo, speaking on the heart of Africa’s funding dilemma, said, “Without local belief and resilience, there is no local validation. Unless there is local belief and resilience, why should anyone invest in us?”

He challenged investors to become “the capital that understands the context, stays through the storm, mentors, guides, and builds companies designed to last in Africa or after that.”

“When we invest locally, we are not just funding startups, we are funding our own future.”

A Reality Check for Africa’s Angels

That future, however, still faces major gaps, as Khaled Ismail, chairman of HIMAngels, pointed out in his session on The State of Angel Investing in Africa.

He revealed that Africa now counts around 6,000 angel investors, up from barely a hundred a decade ago. Yet, only 10% of them are actively investing.

“Imagine all of those 6,000 were investing. Imagine how big the ecosystem would have grown,” he said.

The continent’s average angel investment ticket sits at $3,500 per year, compared to $15,000 in India, a country with the same population but five times more investors. That gap, Ismail argued, has ripple effects across the entire ecosystem.

“That’s 20 times more angel capital being poured into India’s ecosystem compared to Africa’s,” he said. “And it’s no surprise that they have more unicorns and exits, their base is simply bigger.”

But beyond the numbers, Ismail reminded us what true angel investing really means.

“It’s not just about making money. It’s about giving back, mentoring, sharing experience. If you don’t get involved, it will never happen,” he said. “Just putting your money and sleeping on it will not get you there.”

He called for better alignment between angels, founders, and venture capitalists, and for new clauses that let angels exit early when venture funding arrives, freeing up funds for fresh investments.

“If angels don’t exit, they won’t invest again,” he warned. “And if they don’t invest again, the pipeline breaks.”

Ten Years On: A Movement Grows

Commendably, ABAN also celebrated those who are building that pipeline. Adedotun Sulaiman was named Angel Investor of the Year, while Core Angels MEA received Angel Network of the Year.

For an ecosystem once dependent on foreign backing, the progress is concrete, but the work is far from over. Africa’s next decade of growth will depend on building confidence, capital, and collaboration at home.

In Osinbajo’s words, “Let’s first be believers.”

Focused on strengthening local capital participation across the continent, the partnership is designed to bridge long-standing gaps between early-stage startups and local investors, focusing on three critical areas, including pipeline sharing, market knowledge exchange, and ecosystem development. 

Together, both organisations aim to build a stronger foundation for sustainable startup growth driven by African investors and African capital.

Speaking at the signing ceremony, Yemi Keri, president of ABAN, said, “The future of Africa’s innovation economy depends on how effectively we can mobilise local capital and empower local investors. Our collaboration with Madica helps bridge the gap between angel investors and institutional capital, ensuring that more funding comes from within the continent, and that startups everywhere in Africa can access the right type of support to scale.”

Under the new MoU, ABAN and Madica Ventures will share access to curated, investment-ready startups, focusing on underserved regions that usually fall outside major investment hubs. 

Both parties will also facilitate direct learning between African angel investors and Madica’s global investment experts, a move expected to boost investor trust and improve deal quality across the board.

Emmanuel Adegboye, head of Madica, reinforced the partnership’s mission to go beyond funding:

“Early-stage founders in Africa need more than just capital. They need a community of investors who understand their context and champion their growth. We have seen firsthand that remarkable founders exist in every corner of the continent, yet too many remain disconnected from the capital and networks they need to thrive. 

“Through this collaboration with ABAN, we are closing that gap, aligning angels and institutional investors to work in sync, expand early funding pathways, and ensure that high-potential startups, wherever they are in Africa, have a real shot at scale.”

The agreement, which will remain active for two years, sets a foundation for more collaborative initiatives aimed at aligning local wealth with Africa’s rapidly growing startup scene.

Fadilah Tchoumba, CEO of ABAN, noted, “This collaboration reinforces our belief that Africans must finance Africa’s growth. By working with Madica, we are amplifying local capital participation and creating new pathways for investors to engage more meaningfully with the continent’s most promising ventures.”

Beyond the signatures and formalities, the ABAN–Madica partnership goes beyond capital mobilisation, it focuses on ownership, influence, and redefining the flow of investment power back to the continent.

In merging ABAN’s extensive angel network with Madica’s venture-building expertise, both organisations are bolstering how Africa’s startup ecosystem can evolve, prioritising sustainability, inclusivity, and local empowerment over dependency on foreign capital.

Africa’s next wave of innovation will be financed by Africans themselves.

Despite the region’s abundant resources, its entrepreneurial ecosystem still faces the same stubborn problems, which include energy insecurity, fragile food systems, and cities buckling under speedy urbanisation. 

Over 570 million people in sub-Saharan Africa still lack access to reliable electricity, while food insecurity is estimated to affect more than 220 million people. But then, funding for solutions is scarce, scattered, and often too small to move the needle.

For Mythri Sambasivan-George, founding member and chairperson of Angel Network Botswana, the path forward is not to chase every idea that ‘looks’ good, but about pooling funds, minds, and willpower around themes that can change the future. 

“Limited number of investors, with a limit on how much investable funds they have, thus, pooled or targeted thematic investments will help to truly catalyse a particular area,” she said in our conversation ahead of ABAN Congress 2025 in Lagos.

No, this is not an abstract argument, it is a pragmatic one. According to her, sector-driven or thematic investing gives angels the power to align resources with problems that matter most to the region. 

“Each thematic area will have a different horizon for returns, like food security can be super high risk given changing diseases, changing climate, poor cold chain or logistics regionally, an imperfect market system with South Africa ‘controlling’ supply into chain stores. If we are able to pool investments, then the investments can be of a size that can be regionally relevant, and not just for local consumption,” she explained.

Pooling, she argued, is not just about money. “By pooling, you not only pool funds but also expertise, networks, mindset, and willpower. Everyone is pulling in the same direction, and thus can affect real change.”

Case Studies in Sector-Specific Impact

Southern Africa has already seen how thematic bets can work. Sambasivan-George points to Botswana as a test case. The government’s solar incentives, particularly net metering, have brought forth an industry with multiple grid-scale plants. 

“In the coming 12 months, the Botswana power sector will see the impacts of all these plants coming online. Returns and impact are readily available and easy to justify with Solar,” she said.

Education is another. When Botswana liberalised its education sector in 2006 and allowed government-sponsored students into private institutions, it unlocked one of the fastest expansions in higher education enrolment in the region. “It catalysed provision and access, and also enabled some institutions to be regionally relevant,” she noted.

Most recently, Botswana’s SmartBots strategy has become a beacon for digital transformation. From a government-backed coding lab at the Botswana Digital & Innovation Hub (BDIH) to demo farms using drones and green tech for agriculture, the initiative shows how thematic focus can blend impact with commercial viability. 

“They use drones and other highly scalable technologies to de-risk agricultural business, while driving a more sustainable business model through organic and value chain empowerment,” she said.

Similar drives are underway in South Africa, Namibia, and Zambia, showing a region beginning to pivot towards coordinated, theme-led innovation.

Identifying the Right Sectors

Still, thematic investing requires clear signals for where the growth lies. But regional disunity is a challenge. “With many African economies still not working together with their neighbours, everyone is competing with each other, thus wasting resources, and ultimately, no one is growing,” she stated. 

For her, bodies like SADC should play a stronger role in promoting cross-border cooperation so investors can build companies that are regionally and globally competitive.

She believes ABAN’s role in coordinating opportunities across its nine networks in the South African economic block—from Angel Network Botswana and Namibia Business Angels Network to Jozi Angels and SABAN—is essential to this mission.

Partnerships as Catalysts

No single player can carry the weight of Southern Africa’s development. Thematic investments, she argued, need partnerships across three fronts: governments, development agencies, and private capital. “Healthcare, education, energy, and infrastructure. These 4 areas require a partnership approach at a regional level. This will enable the region to be more productive and more cohesive,” she said.

Governments, in her view, should stick to creating enabling environments with clear regulations. Development agencies must outline societal goals. Private investors then bring in the discipline of capital.

Balancing Profit and Development

There are usually worries that thematic investing might sacrifice returns for impact. Sambasivan-George sees this as a false trade-off. Transparency, accountability, and measurable impact can reconcile the two. “Transparency in deal-making—profit margins, quality metrics, production guarantees, wage expectations,” she listed, are non-negotiables.

She advocates for companies to set development milestones within clear frameworks, alongside some income guarantees to lower investment risk. Just as importantly, “SDG benchmark markers to be submitted as a part of companies’ annual reports” could make development gains as trackable as profits.

As Southern Africa prepares for the ABAN Congress 2025, Sambasivan-George’s says scattershot investing will not solve systemic problems, thematic investing will. Sustainability lies in collective, sector-driven bets that can match vision with scale. 

And if investors can align not just their money but also their intentions, Southern Africa might just prove that Africa can, indeed, fund Africa.

While global venture capital can flow from San Francisco to Singapore overnight, a young founder in Yaoundé looking to scale into Cotonou still wrestles paperwork, incompatible banking systems, and regulators who seem allergic to regional collaboration.

But then, Francophone Africa is not folding its hands. Angel networks across the region are stepping in to ensure early-stage investing, even as they contend with structural barriers. 

At the centre of this movement is Joel Nana Kontchou, vice president of the Cameroon Angels Network, who will be speaking at the ABAN Annual Congress 2025 in Lagos under the theme “Accelerating Local Capital Participation.” 

He emphasises that without breaking down barriers to cross-border syndication, African startups risk remaining local champions in a globalised market.

“We need to be aware of how far Francophone Africa has gone, and advocate for the implementation of all or part of what exists there—Startup Act, financial system, investment processes,” Joel told Techeconomy.

The Barriers We Refuse to Ignore

Francophone Africa has deep trade and cultural links that should make cross-border investment seamless. But then, it’s a different case in reality. According to the World Bank, intra-African trade accounts for just 15% of the continent’s total trade, compared to 67% in Europe. 

For startups, the challenge is even worse. Regulations differ from one country to another. Banking systems resist integration. Moving capital across borders usually seems like contraband.

On the biggest barriers preventing cross-border investor collaboration, and how they can be overcome, Joel said, “Financial system and different regulations per country. Moving money across African countries is a big challenge. To overcome this, startups need to have a corporate office in a financial neutral zone (Kigali, Mauritius, the USA, and others). As per regulations, we need to agree on minimum standards that can be used across.”

The solution, he argues, is not to wait for governments but to set up practical frameworks that investors and networks can agree upon.

No Success Stories, Yet

When asked if Francophone Africa could point to a cross-border syndicate that had successfully scaled a startup into a pan-African player, Joel was blunt:

“Unfortunately, we do not have examples.”

It’s an unpleasant eality. But it also explains why conversations like those at ABAN Congress are not just academic, they are strategies to scale up. If networks don’t act, startups will continue to expand one painful country at a time, bleeding resources that could have gone into innovation.

Towards a Minimum Standard

One of the strongest recommendations Joel makes is the need for harmonisation. Different angel groups across the region have varying due diligence, governance, and investment practices. For cross-border syndication to become normal, they need to converge.

“We need to define a minimum standard to use. ABAN could take the lead on this.”

This is where ABAN’s 10-year anniversary is important. The network now spans across the continent with strong representation in Francophone Africa, including 10 active angel groups such as Gabon Angel Investors Network, Business Angel Network of Chad, Congo Business Angels, Casbah Business Angels, and the Women Business Angel Network. Together, they have the numbers and influence to push through reforms.

Beyond the Money

While funding is essential, Joel insists that the role of cross-border investors must extend beyond writing cheques.

“Cross-border investors could bring marketing actions and access to their local network, be it administrative, legal, or commercial.”

For startups, that kind of access is usually more valuable than cash. Market entry support, introductions to regulators, and cultural know-how can make the difference between success and failure.

The ABAN Congress in Lagos is expected to ignite these conversations with renewed urgency. Francophone Africa, with its 300 million people and rising pool of angel investors, cannot afford to remain a fragmented ecosystem. 

The next African unicorn may already exist in Douala, Dakar, or Kinshasa, but without cross-border syndication, it may never grow beyond its home turf.

Joel Nana Kontchou strongly reiterates that integration is the foundation for building Africa-funded African startups. The question is whether angel investors across the continent are ready to match words with action.

Over the past decade, angel networks across Africa have invested $35 million into more than 1,200 early-stage startups, a solid foundation, but tiny compared to the continent’s potential. 

In the East African economic block alone, 18 active networks, from Nairobi Business Angel Network to Ajax Capital Group, form one of the region’s most active clusters. However, real capital flows usually lag behind policy results.

At ABAN Congress 2025 in Lagos, themed “Accelerating Local Capital Participation,” this gap will be addressed. African startups raised $289 million in 2025 alone, with 90% in equity deals, revealing a shift toward more structured, scalable investment. 

Angel syndicates now account for 46% of investments, enabling pooled capital, shared risk, and larger deals. Catalytic Africa, ABAN’s co-investment platform, has mobilised 10× more capital since 2022, backing startups across 15+ countries. Despite these advances, we wonder why policy is not translating into capital in the hands of founders?

To understand why these policies haven’t fully translated into funding, Techeconomy spoke with Martin Warioba, managing partner at Warioba Ventures and a leading voice in East Africa’s investment ecosystem, to dissect the gap between policy intentions and actual capital deployment, and explore ways to turn investor-friendly frameworks into real-world funding.

Turning Policy into Capital

On the disconnect between policy and execution, Warioba says: “Policies like the Startup Act or tax incentives mainly exist but are undermined by unclear implementation guidelines, slow regulatory approvals, and minimal awareness among local stakeholders.”

“The real gap is execution muscle and ecosystem feedback loops. Without collaboration between policymakers and actual capital deployers, policies risk becoming symbolic rather than catalytic.”

A policy in East Africa that has already had a measurable impact on early-stage investment is Rwanda’s Capital Markets Authority (CMA) regulatory framework for Collective Investment Schemes (CIS).

“This has provided a clear path for registering venture capital funds and has attracted cross-border investment. Warioba Ventures has leveraged this policy to structure its Pan-African VC fund with domiciliation in Kigali.

“Catalytic Africa’s matching fund could be another example – though not a policy per se – has operationalised policy intentions by directly channelling local and foreign capital into early-stage startups.”

While Rwanda shows what’s possible with the right framework, scaling impact across East Africa also requires active participation from angel networks.

The Role of Angel Networks

Angel investor networks, Warioba explains, are essential to bridging the gap between policy and capital: “Angel networks are the frontline of early-stage capital. They see firsthand what policies work, where frictions lie, and what founders need to thrive. Angel networks can translate these insights into actionable policy proposals – on tax breaks, capital gains treatment, investor protection, and cross-border capital mobility.

“More importantly, angel networks can pilot co-investment models, like Catalytic Africa, that demonstrate what’s possible when policy meets private initiative.”

Warioba stresses that inclusive policy must extend beyond urban hubs: “Governments must decentralise innovation infrastructure – innovation hubs, access capital, and capacity building programs – beyond major cities. Policies should include incentives for investors who support startups in rural or underserved regions.

“Digital infrastructure and interoperable payment systems remain foundational to building inclusive ecosystems across East Africa’s secondary cities and border regions.”

On government agencies to partner with in order to unlock capital flows immediately, he says: “I will work with the Ministry of Finance to establish the Startup Investment Guarantee Facility backed by public and philanthropic capital.

“This facility would de-risk private and foreign capital entering early-stage startups through first-loss guarantees and co-investment structures into early-stage funds managed by licensed local GPs. This would signal long-term national commitment and crowd in institutional and private participation across the region.”

With ABAN Congress 2025 approaching, Warioba stresses that policies alone do not move capital for any startup; but combined with strategic co-investment models, engaged angel networks, and targeted government initiatives, East Africa has the potential to become a thriving region where startups can scale successfully.

The continent’s overall early-stage investment has grown from less than $300 million a decade ago to over $6 billion in 2022, but Lusophone markets account for only a fraction of this. 

The gap is structural, with limited recognition of angel investors, no tax incentives, and weak deal flow being stubborn barriers.

It’s a paradox worth pausing on, because lately, money can travel faster than ideas. How is it that entire linguistic and cultural blocks of Africa still struggle to tap into the continent’s rising tide of capital? 

And more importantly, what will it take to unlock these markets so that entrepreneurs in places like Cape Verde and Mozambique can access the same opportunities as their peers in Lagos, Nairobi, or Johannesburg?

To explore these questions, Techeconomy spoke with Rui Levy, president of the Business Angels Association of Cape Verde (ABAC), and one of the key voices representing Lusophone Africa at the upcoming ABAN Congress 2025 in Lagos. 

Rui Levy will be addressing how investor education and mentorship can strengthen this underdeveloped ecosystem and why building frameworks tailored to local realities is the first step towards sustainable growth.

TE: One of ABAN Congress 2025’s goals is to build the next generation of angel investors. How can Lusophone Africa grow both the pool of investors and their investment capacity at the same time?

Rui Levy: The starting point is recognition and awareness. In Lusophone Africa, angel investing is still underdeveloped, with no formal recognition of angel investors, no tax incentives, and very limited deal flow. To grow the pool, we need campaigns to demystify angel investing and showcase its impact. To grow capacity, we need structured vehicles, such as syndicates or investor clubs, and partnerships with the diaspora, which represents an untapped resource of capital and expertise. This twin approach, education plus collective investment, can accelerate growth.

TE: What does an effective investor education programme look like for someone just starting in angel investing?

Rui Levy: It must be foundational, practical, and relevant. Foundational, because most new investors in Lusophone Africa are unfamiliar with concepts like convertible notes, syndicates, or exits. Practical, because real case studies and opportunities to co-invest in small tickets are critical for learning by doing. Relevant, because it needs to be contextualised in Portuguese, and adapted to local realities where formal exits are rare and the entrepreneurial base is still fragile.

TE: How can mentorship between experienced and new investors strengthen Lusophone Africa’s early-stage investment ecosystem?

Rui Levy: Mentorship provides confidence and credibility. Experienced angels, whether local or from the diaspora, can accompany new investors in their first deals, explain risks and returns, and introduce them to best practices. This peer learning reduces mistakes, builds trust, and over time, creates a stronger and more professional community of investors.

TE: How can regional collaboration with other parts of Africa help accelerate the development of Lusophone Africa’s angel investing pipeline?

Rui Levy: Collaboration is essential to overcome the language and knowledge barriers. By connecting Lusophone investors with more mature ecosystems in East, West, or Southern Africa, we can learn from proven models, share best practices, and co-invest in cross-border deals. Translation, knowledge transfer, and ABAN’s continental platform can help Lusophone Africa integrate faster into Africa’s broader innovation and investment networks.

TE: What would success for Lusophone Africa’s angel investment ecosystem look like by the time ABAN marks its 15th anniversary?

Rui Levy: Success would mean that by ABAN’s 15th anniversary, Lusophone Africa has:

1. A formal legal status for angel investors
2. Tax and policy incentives in place
3. Active angel networks with regular deal flow, and;
4. Stronger bridges with the diaspora to mobilise smart capital.

Ultimately, success is when entrepreneurs in Lusophone Africa can count on a vibrant community of local and diaspora investors to back their growth, moving from informality and scarcity to a recognised and sustainable ecosystem.

The result has been brilliant ideas birthed on the continent, frequently shaped to suit external expectations, while local investors watched from the sidelines. But things are changing.

In just a decade, the African Business Angel Network (ABAN) has proven that Africans are not only capable of calling the tune but of owning the entire orchestra. 

Coming from a handful of angel investors in 2012, the network has grown to over 7,000 across 37 countries, mobilising more than $35 million in early-stage investments. Its impact includes over 2,000 jobs created, 500,000 women reached through inclusive innovations, and nearly half of all angel investors now engaging in cross-border deals.

These statistics reveal a maturing ecosystem where local and diaspora investors are beginning to write cheques that reflect their belief in Africa’s potential. 

As the African Business Angel Network (ABAN) celebrates a decade of impacting the continent’s early-stage investment ecosystem, all eyes turn to Lagos for its 10th Anniversary Congress.

Themed “Accelerating Local Capital Participation,” the question is no longer whether Africa can fund Africa, but how fast, how courageous, and how collectively it can be done.

To speak on this journey and the road ahead, Techeconomy had an exclusive conversation with Fadilah Tchoumba, CEO of ABAN, who spoke on what it takes to build a trusted voice for angel investing on the continent, why Lagos is the perfect stage for this milestone, and how the next decade of African innovation will be enabled by local capital.

TE: Over the past decade, ABAN has mobilised over $35 million in early-stage investments across Africa. Looking back, what have been the defining moments that impacted this journey and established ABAN as the leading voice for angel investing on the continent?

Fadilah Tchoumba: The defining milestones for us from inception have been: 

• Training and activating over 7,000 angel investors across sector-agnostic and sector-focused investments, up from just a few dozen in 2012.
• Maintaining engagement with a community of 75 active ABAN angel network members across 37 African countries and the diaspora.
• Achieved a 50% gender balance in all programs, leading to the activation of 200+ women angel investors across seven female-led angel networks.
• Mobilising and catalysing over $22.5 million in angel capital towards 408 innovative early-stage ventures.
• Supporting the creation of 2,000+ jobs directly through portfolio companies, and impacted 500,000 women through access to inclusive innovations and product value chains.
• Establishing five new thematic angel networks in Africa focused on: Digital Trade, Climate-Smart Agriculture, Clean Technology, Smart Cities, and Sports & Creative sectors.
• Approximately 48% of angel investors engaged in cross-border deals, underscoring a growing pan-African investment mindset.
• Releasing 3 ABAN Angel Investment Survey Reports since 2022, and this year, we will be releasing our 4th report at the 1st ABAN Annual Congress on 17-18 November in Lagos.
• De-risking investments in 21 startups across 15 African countries through the Catalytic Africa Matching Fund, with over $3.1 million deployed.

Each step was intentional, building capital and investor capacity, credibility, and cross-border syndication. Over time, these moves established ABAN as a trusted voice and convener of Africa’s early-stage investment ecosystem.

TE: The 2025 Congress theme, “Accelerating Local Capital Participation”, emphasises Africa funding Africa. What practical strategies is ABAN introducing to significantly boost local and diaspora participation in early-stage investing over the next five years?

Fadilah Tchoumba: We are doubling down on three investor-focused strategies:

1. Catalytic Africa 2.0, which is a stronger co-investment mechanism designed to mobilise institutional, local, and diaspora capital into syndicates.
2. Investor accreditation; we will be launching Africa Business Angel Accreditation to professionalise Business Angel investing and boost confidence among new entrants.
3. Cross-border syndication vehicles, like Africa Business Angel Investment Vehicle (ABAIV), which provide structured, de-risked opportunities for diaspora investors to co-invest alongside local Business Angels.

These mechanisms are specifically designed to unlock larger ticket sizes, diversify deal flow, and strengthen Africa’s resilience against external capital shocks.

TE: Nigeria, and Lagos in particular, has been chosen as the host city for the Congress. Beyond its status as Africa’s fastest-growing startup ecosystem, what makes Lagos the ideal stage for this milestone gathering?

Fadilah Tchoumba: Lagos is more than just a startup hub. The city is Africa’s market getaway for innovation and scale. Lagos has produced unicorns, birthed thriving angel networks, and attracted global investors, while still reflecting the opportunities and challenges faced by entrepreneurs continent-wide. Hosting the ABAN Annual Congress in Lagos allows us to showcase Africa’s most dynamic ecosystem, while reinforcing the city as a model for how local capital and global ambition can intersect.

TE: Angel investing in Africa faces unique challenges, from policy gaps to risk perceptions. Which policy interventions or regulatory changes do you believe are most urgent to de-risk investments and build investor confidence?

Fadilah Tchoumba: Three interventions stand out:

1. Tax incentives and reliefs for angel investors to encourage wider participation.
2. Investor protection frameworks, particularly around shareholder rights and exit clarity.
3. Capital market access reforms, making it easier to syndicate, structure, and exit investments.

We are actively engaging with policymakers to ensure these enablers are not only designed but executed at scale across multiple African markets.

TE: Catalytic Africa 2.0 is set to launch during the Congress as a new investment vehicle for diaspora-local syndication. How will this initiative work in practice, and what measurable impact do you expect it to have on deal flow and startup growth?

Fadilah Tchoumba: Catalytic Africa 2.0 will match every dollar invested by registered local angel groups with catalytic funds from partners, effectively multiplying deal sizes and de-risking investor entry. By enabling diaspora syndication into these vehicles, it ensures both patient and smart capital flows into Africa’s most promising startups. We anticipate this will not only grow deal volume but also increase successful cross-border investments by at least 40% over the next three years. 

TE: As ABAN looks ahead to its next decade, what is your vision for the role African angel investors should play in driving innovation in high-growth sectors like AI, health-tech, cleantech, and the creative economy?

Fadilah Tchoumba: The next decade is about African Business Angels becoming market-makers, not just funders. By leveraging deep local knowledge and networks, African investors can de-risk frontier sectors like AI or health-tech where global capital remains cautious. Business Angels will also champion inclusive sectors the creative economy, sports, and climate-tech, which reflect Africa’s unique strengths. The vision is clear: Africa’s next wave of global solutions will be born from angel-backed startups, and ABAN’s role is to keep equipping investors to seize these opportunities because ultimately, Africa must fund Africa.