ABAN marks 10th anniversary, mobilises $35m for African startups
The African Business Angel Network (ABAN) has concluded its 10th-anniversary congress in Lagos, bringing together more than 5,000 angel investors from 37 African countries to mark a decade of advancing early-stage investing across the continent.
Held from October 17 to 18 at the J. Randle Centre for Yoruba Culture and History, the two-day event focused on expanding local capital participation under the theme, “Accelerating Local Capital Participation — Africa Must Fund Africa.”
Since its establishment in 2015, ABAN said it has mobilised over $35 million in early-stage investments into more than 1,200 African startups, strengthening the continent’s startup ecosystem and empowering founders in emerging sectors.
“Over the years, we have seen how local capital drives meaningful outcomes by supporting overlooked founders, enabling innovation, and strengthening Africa’s early-stage investment ecosystems,” said Fadilah Tchoumba, chief executive officer of ABAN.
“It is now time to build on that progress through smarter syndication, inclusive policy, and targeted investor education.”
The congress featured keynote sessions, startup showcases, and strategic launches, including Catalytic Africa 2.0, the Africa Business Angel Investment Vehicle (ABAIV), and the unveiling of the ABAN Angel Investment Report 2025.
Among the keynote speakers were Wamkele Mene, secretary-general of the African Continental Free Trade Area (AfCFTA); Njideka Jack, general manager of enterprise marketing at MTN Nigeria; and representatives from angel networks across the continent.
Yemi Keri, president of ABAN and co-founder of Rising Tide Africa, said hosting the milestone event in Lagos underscored the city’s role as a hub for Africa’s innovation economy.
“Africa’s greatest resource is its people and their willingness to invest in one another,” she said. “Hosting the congress in Lagos sends a clear message that African investors must lead the charge in shaping Africa’s innovation economy.”
The event also witnessed the launch of the Africa Fund, a new vehicle aimed at early-stage ventures, and the introduction of RUTA Fund 1, a $10 million gender-lens fund dedicated to supporting female founders across Africa.
With its tenth-year milestone, ABAN reaffirmed its commitment to building a transparent, inclusive, and investor-driven ecosystem that channels local capital into African innovation.
