With the growing recognition of the economic potential in Africa’s sports and creative industries, the African Business Angel Network (ABAN) and a consortium of key market players have launched a pioneering angel investor network. This initiative aims to provide crucial funding and infrastructure to help entrepreneurs in these sectors scale their businesses and compete on a global level. ALSO READ: NBA Africa’s Akamanzi on sports investment, returns Angel investors play a unique role in providing early-stage funding to startups, offering patient capital, sector-specific knowledge, and a collaborative approach to de-risk investments. According to a study by the Brookings Institute, Africa’s stunted growth in the sports industry contribute only 0.5 per cent of the continent’s GDP, compared to 5 per cent it contributes to the global GDP. The study, which involved 500 African players in the industry, found a poor understanding of sports issues, alluding to a striking lack of market awareness among businesses presumably already in the sector, with entrepreneurs struggling to convince sponsors and investors to fund their projects. Lack of adequate training for professionals in the industry was also cited among other issues affecting the African sports ecosystem. ALSO READ: Kagame tells new leaders to treat sports as a talent-based business Fadilah Tchoumba, CEO of ABAN, asserted that Africa’s sports and creative industries have the potential to be economic giants, but they need capital that understands their unique value. “This investor network bridges the gap between capital and creativity, unlocking new investment opportunities while strengthening Africa’s position as a global leader in innovation and culture.” The network will focus on different pillars designed to drive growth in the sectors, these include equipping investors with specialized knowledge on due diligence, valuation and deal structuring in the sports and creative industries, connecting angel investors with high-potential startups seeking capital, and creating platforms for investors, startups and ecosystem stakeholders to exchange insights and forge partnerships. It is set to provide financial support to African entrepreneurs but also empower them to grow their skills and bring their businesses to new markets. It is supported by TRACE, El Carnaval Limited and PUNUKA Attorneys & Solicitors. Gwladys Watrin, Vice President of Corporate Development, TRACE, said that Africa’s sports and creative industries are more than just entertainment – they are powerful engines of economic growth, cultural influence and global storytelling. ALSO READ: Minister highlights priority areas to boost Rwanda’s creative economy ALSO READ: How Rwandan venture aims to make sports pay for Africa’s development Having observed the talent and potential of African artists over the last 20 years, especially in the context of the growing digital economy, Matthew Ohio, Founder, El Carnaval Limited, expressed confidence in the potential for the network to drive transformative economic opportunities for African youth and amplify their creative impact on a global scale. The network was launched during the Inclusive Fintech Forum 2025 which ended on February 26, having brought together over 3,000 participants including government officials, policymakers, regulators, technology experts, and investors, among others.
