Africa continues to show positive economic growth and of the top 10 growth economies in 2012, 7 African countries are included in this basket. In addition, the IMF has reported that sub-Saharan Africa achieved 5% annual GDP growth in 2012 and predicts this to increase to 6.9% for the period 2013 â?? 2017 (IMF economic outlook data, 2013). Research further shows that SMEâ??s are a key driver of this growth and jobs in Africa. However most business start-ups in Africa struggle to scale or fail altogether because of a lack of early stage funding or seed money. It is against this backdrop that a lunchtime conversation amongst entrepreneurs on how to overcome this funding challenge, entice and encourage more â??friends, family and fools moneyâ?? into the development of technological innovations evolved, within 3 hours, into the Africa Angel List.
WHO WE ARE
The Angel Africa List (AAL) is an early stage Pan African investment platform. It was spontaneously founded by 56 African delegates over a luncheon on the 28th of May 2013 at the 5th infoDev Global Forum on Innovation and Entrepreneurship. The forum was successfully held in East London South Africa.
The purpose of the AAL is to achieve economic prosperity on the continent by building and fostering (through mentorship based financing) a forum for innovative technological ideas, investors and business mentors. There will be representative offices established in the Maghreb, ECOWAS, EAC and SADC regions. The AAL will also identify and facilitate collaboration between African Angel investors in each region and a Pan African pipeline of innovative technologies.