The Africa Business Angels Network (ABAN), a pan-African association of angel investors, and Rwanda Finance Ltd (RFL), a company dedicated to establishing Rwanda as a premier financial destination in Africa, have officially entered into a Memorandum of Understanding (MoU) to collaborate and advance their respective initiatives across the continent.
ABAN, established in 2015, serves as a prominent network of angel investors focused on Africa, encompassing over 35 African countries and the diaspora. The organisation is dedicated to market education on angel investment and the development of an early-stage investment ecosystem throughout the continent. RFL, headquartered in Rwanda, has been actively working to position the country as a leading financial hub in Africa, attracting investments and driving economic growth.
The partnership between the two aims to foster entrepreneurship, enhance investor awareness, and cultivate a favourable investment ecosystem in Africa. Under the MoU, ABAN and RFL will engage in collaborative promotion and cooperation to elevate investor awareness and facilitate access to investment opportunities. The partnership seeks to leverage ABAN’s extensive network of angel investors and RFL’s expertise in promoting Rwanda’s investment ecosystem through the Kigali International Finance Centre (KIFC).
“The collaboration between ABAN and RFL signifies a significant milestone for African entrepreneurship,” said Fadilah Tchoumba, ABAN secretary general. “By combining our resources and networks, we aim to establish a formidable platform that supports early-stage investments and expedites the growth of African startups.”
The MoU delineates key provisions and responsibilities for both parties. RFL will recommend administrators for ABAN and its member networks when establishing entities in Rwanda, facilitate engagement with ecosystem regulators, and assist in obtaining investment certificates for eligible investors. In return, ABAN will deliver training sessions on early-stage investment to KIFC ecosystem members, and encourage its network members to channel their investments through KIFC.
