Photos: YouTube Screenshots
Investment activity into African startups by angel investors has grown in the last decade.
The number of angel investors on the continent increased four-fold between 2020 and 2023, corresponding with a near tripling of investment dollars to $22.5 million, according to the African Business Angel Network (ABAN). Most angel investors say they are sector agnostic but they also prefer to back high growth ventures that already make money, ABAN’s survey shows.
More than half of African angel investors are company founders themselves or C-level executives, with the majority operating in South Africa, Nigeria, and Kenya. But country-specific angel investment networks are spread across Africa, helping to grow local tech ecosystems by boosting interest in startup investments.
