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THE AFRICAN BUSINESS ANGEL

H. Tomi DaviesPresident, 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 GECPARTNERSHIP 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 theGLOBAL ENTREPRENEURSHIP NETWORK

g e n g l o b a l . o r g