The latest ABAN African Investment Survey 2022 is out. This annual survey builds on the Angel Investing in Africa Landscape report, which was carried out in 2021 by Briter Bridges and ABAN. The 2022 edition is in collaboration with the African Angel Academy and is supported by the Dutch Good Growth Fund (DGGF).

Who are the angel investors that support promising founders on the African continent? How much do they invest and what are their preferred sectors? Do they invest individually or in groups? What are the key drivers to make angels invest and what are the hurdles angels face along their journeys to invest more? These and many more questions are answered by the data gathered in this important piece of research.

Download the report.

Key findings: 

Syndicates and networks are a key driver of activity

The majority of investors find angel networks and syndicates to be effective routes to investment. 59 unique syndicates, angel groups, and financing platforms were mentioned by respondents as the investment vehicles through which they deploy capital to startups.



Ticket sizes

More than half of angels typically make investments of under $10K. For angels leveraging their salaries or reinvesting parts of their wealth, smaller ticket sizes allow diversified and lower-risk investments.





Sectors of preference

10% of angels adopt an agnostic approach to their investment style, and 51% of investors expressed interest in 3 or more sectors as part of their investment strategy. Of these, fintech is the top preferred sector, reflecting the broader funding flows across the continent as startups offering financial technology products continue to capture the largest share of funding.

Download the full report.