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Shaping tomorrow’s investments: A triumph of collaboration at the Africa Early Stage Investor Summit 2023

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10 months ago

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investment

The two-day summit serves as the pivotal platform for robust discussions, networking and collaboration, propelling the African early-stage investment landscape forward

CAPE TOWN, South Africa, December 19, 2023/APO Group/ — 

The Africa Early Stage Investor Summit 2023, concluded with resounding success, bringing together 350+ investors, founders, and industry leaders from across the continent. The two-day summit, organized jointly by VC4A (VC4A.com) & African Business Angel Network (ABAN), serves as the pivotal platform for robust discussions, networking and collaboration, propelling the African early-stage investment landscape forward.

“AESIS connects the early stage (angel) investor networks with VCs, mapping a path for founders’ fundraising journeys. The exchange of knowledge and experiences between the two is invaluable to the startup ecosystem, directly supporting founders in their entrepreneurial adventures.” – Vincent Hoogdyn, CEO of VC4A.

Key highlights

1. Insightful Opening Townhall & State of Industry Overview: The event kicked off with a thought-provoking Opening Townhall, moderated by the host Hope Ditlhakanyane, featuring AESIS advisor Eghosa Omoigui, and AESIS partner representatives Eleni Gabre-Madhin, Laurien Field, and Jean-Marie Kananura, who reflected on the theme of 10x-ing early-stage investing in Africa, and set the scene for the impactful conversations that followed.

Maxime Bayen of Africa:The Big Deal (TheBigDeal.substack.com) expanded this sentiment in his address sharing that the number of active investors in startups in Africa have doubled from 242 in 2019 to 529 in 2023, additionally funding raised by startups in Africa has grown 119 times in 10 years from $27M in 2014 to $3.2B in 2023 (YTD). The primary emphasis of the overall message underscored the importance of deriving lessons from failures we’ve seen, gaining a more realistic perspective on exits through data, and strategically incorporating this information into the efforts to strengthen our collaborative ecosystem.

“AESIS plays a pivotal role in fostering collaboration and knowledge sharing between angel investors and VCs, and investment activities within the African startup ecosystem, contributing to the overall growth and development of entrepreneurship on the continent” – Fadilah Tchoumba, CEO of African Business Angel Network (ABAN).

2. Masterclasses and Breakaway Sessions: Attendees immersed themselves in an array of masterclasses and breakaway sessions, covering pivotal topics such as The winning recipe for Deal Collaboration and The Anatomy of Effective Corporate VC, as well as AESIS partner series covering Impact in collaboration with UNDP’s Africa Sustainable Finance Hub, and Gender Lens Investing in collaboration with IFC’s She Wins Africa initiative.

Notably, we had the Angel Investing Roundtable which was the launch of the ABAN 2023 Angel Investment Survey Report (ABANAngels.org/insights) –  Research into ABAN’s network of angels indicates that 2058 angel investors invested more than $22.5M across 408 deals, out of 5,743 applications received, at an average ticket size of $55.2K in the first and second quarter of 2023.

A special recognition goes to our investor meetup hosts who worked very hard and brought incredible energy into making our new record of 36 meetups happen for 2023

3. Deal Morning: In partnership with VC4A, SU Launch Lab, Next176, JICA, GIZ SAIS, MADICA, and Founders Factory Africa – 28 founders had been given the stage to showcase their business together with their attending investors. This setup facilitated meaningful connections not only between entrepreneurs and investors, but also between investors unlocking potential co-investments.

4. Ecosystem Side Event: The 2nd official Ecosystem Side Event took place on Saturday the 2nd of December, hosted at the WomHub coworking space, spotlighting the symbiotic relationship between Entrepreneur Support Organizations (ESOs) and investors. Panels, case studies, and presentations such as The ESO as an early stage investor, by Cindy AI of Dream VC highlighted the collaborative efforts driving entrepreneurship development and active opportunities for co-creation and progressive innovation efforts.

The summit concluded on a high note with a Closing Cocktail, with the first AESIS awards handed out in the following categories:

  • AESIS Most Valuable Players Award – to attending members that have attended more than 6+ annual Summits;
  • #AESIS2023 Outstanding Investor Meetup Award –  Serengeti Angels and Ennovate Ventures as the hosts in Dar es Salaam, Tanzania;
  • #AESIS2023 Outstanding Angel Network Award – RisingTide Africa;
  • #AESIS2023 Outstanding VC Company Award – Founders Factory Africa.

Throughout the year we have had a series of numerous events in the lead up to these amazing two days in Cape Town; including Investor meetups which took place across Africa and the globe in September and October. A special recognition goes to our investor meetup hosts who worked very hard and brought incredible energy into making our new record of 36 meetups happen for 2023.

#AESIS2023 is honored to have partnered with many influential entities to make this 10 year milestone a resounding success including Investec, Next176, UNDP, Timbuktoo, JICA, GIZ SAIS, GIZ MAKE IT, Madica, Womhub, OceanHub Africa, Founders Factory Africa, Untapped Global, US Consulate, Double Feathers Partners, SU LaunchLab, SA SME Fund, Value for Women, International Finance Corporation, Kigali International Financial Center, Dutch Good Growth Fund, and South Africa National Conventions Bureau.

Looking ahead

The success of the Africa Early Stage Investor Summit 2023 underscores the growing momentum of collaborative efforts in driving synergy and investment across the continent. The insights shared, connections forged, and collaborations initiated during the summit are expected to contribute significantly to 10x-ing early stage investing in Africa.

“Only ecosystems that have knowledge exchanges survive — that’s the power that we have here!” – Tomi Davies, President of African Business Angel Network (ABAN).

Photos of the events that took place during #AESIS2023 can be found here (apo-opa.co/3v6lGmj)

Distributed by APO Group on behalf of VC4A.

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Ministers among hundreds of energy-sector leaders to attend AOW event

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1 day ago

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October 4, 2024

By

Sinclair

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors”

CAPE TOWN, South Africa, October 4, 2024/APO Group/ — 

AOW: Investing in African Energy (https://AOWEnergy.com) – Africa’s leading oil, gas and energy event – has confirmed attendance for more than 80 ministers and senior officials, representing African governments, energy departments and regulators at next month’s event.

These influential stakeholders will be among the more than 1 600 senior delegates and industry leaders who will be attending the event to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors.”

Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention

Among the officials and government ministers attending will be energy leaders from South Africa, Nigeria, Namibia, Cote d’Ivoire, Mozambique, DRC, Ghana, Kenya, Madagascar, Eswatini, Uganda, CAR, Guinea Conakry, Guinea Bissau, Ethiopia, The Gambia, Gabon, Malawi, Morocco, Zanzibar, Liberia, Senegal, Congo Brazzaville and Sierra Leone.

In addition, the event will feature high-level delegations from numerous national oil companies, as well as multilateral bodies including the African Union, (AU), African Energy Commission (AFREC), African Petroleum Producers’ Organization (APPO) and the Southern African Power Pool (SAPP).

AOW will see these energy leaders networking with C-suite executives and decision-makers from more than 760 top energy companies at daily networking events, to discuss insights, forge new relationships, and negotiate major energy deals.

“We are so excited to see the calibre of delegates at this year’s AOW event,” says Chief Executive Officer of Sankofa Events, Paul Sinclair. “Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention. The high-powered attendance proves AOW is a key platform to enable this intervention.”

Key themes to be discussed at this year’s AOW will be sustainable upstream development; expanding gas value chains; renewables and new energies; adoption of best-in-class technologies; and access to finance.

AOW: Investing in African Energy will culminate in a special anniversary party at Groot Constantia Vineyard to celebrate 30 years of the AOW event.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

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Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

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1 day ago

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October 4, 2024

By

PAPSS

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

CAIRO, Egypt, October 4, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.

We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria

According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches with the first tranche of US$7.48M going toward capital expenditure for the construction of the factory and the second, totalling US$13.25M to be deployed as working capital for the operations of the factory.

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs once the factory becomes operational. It is also expected to support about 40 small and medium-sized enterprises.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that by supporting Starlink Global to establish a modern processing facility, Afreximbank is making it possible for Africa to add value to its agro-commodities, thereby facilitating exports and subsequent inflow of much-needed foreign exchange into the continent.

“We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria. It will contribute to value creation and to the development of the local community while also improving the lots of smallholder farmers and small business suppliers that will work with Starlink across the value chain,” Mrs. Awani added.

Distributed by APO Group on behalf of Afreximbank.

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Sonangol to Lead Decarbonized Oil & Gas (O&G) Development, Says Angolan National Oil Company (NOC) Head

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1 day ago

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October 4, 2024

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Sonangol

Participating in an on-stage interview at Angola Oil & Gas 2024, Sonangol CEO Sebastião Gaspar Martins emphasized that oil and gas remains a core focus for the national oil company

LUANDA, Angola, October 3, 2024/APO Group/ — 

Angola’s national oil company Sonangol reiterated its commitment to driving sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. Speaking during an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins stated that the company will not abandon oil and gas, but rather advance decarbonized oil and gas development.

We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas

By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol aims to boost national crude output, while diversifying and decarbonizing the industry. The NOC is focusing efforts on non-associated gas development, as well as alternative energy sources such as solar.

“We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas. Gas produced from Angola LNG will be used for the production of fertilizer and we are evaluating the utilization of gas in the south of the country, linking gas with steel industries. We also have a blue carbon project, linked to the reduction of carbon through the plantation of mangroves. We have one area in Luanda and have identified four additional areas for this,” stated Gaspar Martins.

Sonangol has undergone transformation in recent years: following the creation of the National Oil, Gas & Biofuels Agency (ANPG) in 2019, Sonangol transferred its role as national concessionaire and regulator. This transformation has aimed to make Sonangol more competitive and strengthen its capacity as an upstream operator. Concurrently, the government is partially privatizing the NOC, with privatization set to be complete in 2026. This process will enhance financial capacity, allowing Sonangol to drive new upstream projects forward.

“The transformation of Sonangol started several years ago, when we passed the regulatory, concessionaire role to the ANPG. At the time, we transferred almost 600 employees to the ANPG. After that, Sonangol underwent a restructuring program where we created five core business units from 36 different entities – starting with exploration and production. We want to go public, but we want to do it properly. So, we are currently going through all the processes to do this,” stated Gaspar Martins.

Distributed by APO Group on behalf of Energy Capital & Power.

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