The Africa Business Angels Network (ABAN) and Rwanda Finance Ltd (RFL) have officially signed a Memorandum of Understanding (MoU) to collaborate and advance their initiatives across Africa.
The partnership between ABAN and RFL aims to promote entrepreneurship, raise investor awareness and cultivate a favourable investment ecosystem in Africa.
Under the MoU, both organizations will collaborate to increase investor awareness and facilitate access to investment opportunities.
“ABAN’s extensive network of angel investors and RFL’s expertise in promoting Rwanda’s investment ecosystem through the Kigali International Finance Centre (KIFC) will be leveraged to achieve these goals.”
Fadilah Tchoumba, ABAN’s secretary general, emphasized the significance of the collaboration, stating that it marks a significant milestone for African entrepreneurship.
By combining their resources and networks, ABAN and RFL seek to establish a robust platform that supports early-stage investments and accelerates the growth of African startups.
The MoU outlines the key provisions and responsibilities of both parties. RFL will recommend administrators for ABAN and its member networks when establishing entities in Rwanda.
It will also facilitate engagement with ecosystem regulators and assist in obtaining investment certificates for eligible investors.
In return, ABAN will provide training sessions on early-stage investment to KIFC ecosystem members and encourage its network members to direct their investments through KIFC.
ABAN, founded in 2015, is a pan-African association of angel investors that operates in over 35 African countries and the diaspora.
It focuses on promoting angel investment education and developing early-stage investment ecosystems on the continent.
RFL, headquartered in Rwanda, aims to position the country as a leading financial destination in Africa by attracting investments and driving economic growth.