African angel investors chart path for the future at the ABAN 2025 Congress
Over 100 angel investors convened in Lagos to drive Africa’s early-stage funding future, urging stronger local participation, policy reform, and collaboration to unlock the continent’s startup potential.
When startup fundraises are announced, the spotlight often falls on large venture capital (VC) firms. Yet, behind many of these success stories are angel investors — early believers who provide the crucial capital that turns ideas into real products.
These individuals play a foundational role in Africa’s startup ecosystem, and on the 17th and 18th of October, 2025, over 100 of them gathered at the J. Randle Centre for Yorùbá Culture & History to reflect on the journey so far and chart a course for the future.
Themed “Accelerating Local Capital Participation,” the event brought together key players from across the continent to share insights, celebrate progress, and tackle persistent challenges in early-stage funding.
In her opening address, Yemi Keri, President of the African Business Angel Network (ABAN), highlighted the pivotal role of local investors. Over the past decade, more than 5,000 angels have invested upwards of $35 million into African startups, a small figure compared to global standards, but a meaningful start.
She pointed out that local capital has remained steady even as global venture funding has dried up.
“The global funding tap is tightened, and when it is tightened, the first to be cut off are our founders in overlooked markets [and] non-traditional backgrounds,” Keri said. “The only capital we can truly depend on is our own.”
Still, she cautioned against complacency. Compared to Southeast Asia, where angel investors have poured over $40 billion into more than 1,000 startups, Africa’s angel investment ecosystem has considerable ground to cover. She urged the community to take bolder steps toward scaling participation and building stronger networks.
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Outlining the themes that would shape the discussions over the two days, Keri named three priorities: easing cross-border investment, moving beyond fintech, and enabling policy environments that support early-stage capital...
