South African Business Angel Network launches to galvanize South Africa’s angel investing movement

South African Business Angel Network launches to galvanize South Africa’s angel investing movement - Post image

SABAN (South African Business Angel Network) is a non-profit, professional association for promoting the South African early stage investor community. Established in 2016, SABAN represents a sector that plays a vital role in South Africa’s future, notably in the funding of Start-Ups. SABAN members fuel SA’s growth through the creation of wealth and jobs

The organization has the following objectives:

– Raising awareness of Angel investing activity
– Capacity building / training
– Networking with peers
– Research
– Accreditation
– Seeding Angel Groups in major economic hubs
– Lobbying for regulatory improvements
– Recognizing Angel achievements

The formalization follows the launch of the African Business Angels Network (ABAN) in the fall of 2014, and is another step in a growing movement to evangelize an angel investing movement across the continent.

To put the South African economy in context – the country is characterized by extremely high unemployment and low GDP growth, so entrepreneurial initiative is greatly needed to boost the economy. And where there are entrepreneurs, there must also be business angels. While private angel groups and small syndicates do exist in the country, SABAN is the first national non-profit network. Additionally, there is little data regarding business angel activity in the country, however, their number is surmised to be somewhere between 20 and 50 publicly known business angels. Working closely with these individuals, and their related investing groups, SABAN aims to increase the amount of information available on early stage market players in South Africa.

Many of the key individuals helping drive SABAN forward are familiar to EBAN – Audrey Mothupi (NFBAN Board Member), Craig Mullet, Anthony Farr, Vuyisa Qabaka, Alexandra Fraser, Dean Cannell, David van Dijk, Ben White, Tomi Davies, Llew Claasen, Matsi Modise, Elizabeth Gould, Garreth Bloor, Anthony Record, Christophe Viarnaud, Rebecca Enonchong, Abu Cassim, Candace Johnson and Baybars Altuntas.

The first concrete conversations on starting SABAN started as recently as May 2016, but there has been incredible progress so far. Among those consulted and supportive so far are the Johannesburg Stock Exchange, Newtown Partners, Allan Gray Orbis Foundation, Entrepreneur Traction, GBAN, Silicon Cape, SiMODiSA, VC4Africa, Clifftop Colony, Knife Capital, SA Enterprise Development, DEMO Africa, Venture Networks, French Tech Hub, Methys and Jozi Angels. Early support has also been shown by the South African Department of Trade and Industry, who attended EBAN’s Annual Congress 2016 in Porto, and are willing to help connect SABAN with the European Commission.

Another, even bigger launch event for SABAN is set to take place in November in Cape Town, and by early 2017 SABAN is expected to be in full force. The organization is headed by a steering committee of Chris Campbell, Bodo Sieber (CEO of Tagmarshal, which recently received German angel investment) and Mvikeli Hlophe (fund manager at SA Enterprise).

SABAN (South African Business Angel Network) is the non-profit, professional association for the South African early stage investor community. Established in 2016, SABAN represents a sector that plays a vital role in South Africa’s future, notably in the funding of Start-Ups. SABAN members fuel SA’s growth through the creation of wealth and jobs. See their VC4A partner page for more details.

Comments