Tomi Davies, president of the African Business Angel Network, on the African Business Angel. Presentation delivered at the Global Entrepreneurship Congress in Johannesburg, South Africa (March 2017).

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THE AFRICAN BUSINESS ANGEL
H. Tomi Davies
President, African Business Angel Network (ABAN)

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ABOUT ABAN

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The African Business Angel Network (ABAN)
• Trade association for African Business Angels, Syndicates and Networks
• Working with others across Africa to:
• Create Business Angel Groups, Syndicates & Networks
• Educate Business Angel Investors & their Entrepreneurs
• Develop thought leadership to support Early Stage Investment Policies

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LEVERAGE THE GEC
PARTNERSHIP OPPORTUNITIES
Bill Aulet of the Martin Trust Center for MIT Entrepreneurship,
speaker at GEC Medellin in 2016
ON AFRICA

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AFRICA is AFRICAN!
1 Union, 8 RECs, 54 Countries  Celebrating Culture!

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From hopeless woes to rising middle class….

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Increasing global attention, but…

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ABOUT
GEC JOHANNESBURG: MARCH 2017
AFRICA’S EARLY STAGE ECOSYSTEM

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A dynamic cocktail of entrepreneurs,
organizations, investors, & events…

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Although more startups got funded, funding
levels declined last year….

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Angel networks are vital to finding more
African solutions for African problems….

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Innovating early stage funding in Nigeria….
• LAN-led Investment Round
• Post-revenue ventures less than 2 years old
• Syndicates of accredited Angel investors
• Application, Assessment, Pitch, Term Sheet,
Due Diligence, Agreement, Funding in 90 days
• 2016: invested $500k in Lagos Start-Ups

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LEARNING AHEAD

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Lessons from African Angels.…
• Education is key! - most
investors only have experience
with traditional (non-tech / non-
IP) investments!
• Start investing now! - too much
analysis of a deal leads to
paralysis!
• Begin with exit in mind! - you
need to invest with the long
term horizon in view!
• Don’t expect Government help!
– most will only help AFTER they
see you succeed! (e.g. MPESA,
Zuckerberg in Lagos)
• Invest with groups (Syndicates
& Networks)! - You can’t know
everything, commitment from
others reduces your risk!
• Have fun! – if you don’t enjoy it,
don’t do it!

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Looking ahead in Africa…
“AFRICANS ARE DEVELOPING AFRICA
TODAY”
…AND NEED YOUR SUPPORT...
…LET’S BUILD AFRICA TOGETHER!”
HOW?
• Support ABAN
• Join an African
Syndicate/Network
• Invest in an African Start-Up

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CREDITS

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The Global Entrepreneurship Congress is part of the
GLOBAL ENTREPRENEURSHIP NETWORK
g e n g l o b a l . o r g