African tech space has been recently the home of more linkages since many are required to do so within it. These are both for encouraging more investments and making sure the startup that indeed raises funds in the bank are served better.
According to Disrupt Africa, the year 2017 was a record-breaking time when it comes to African’s tech fundraising. However, investors of all level are still lacking. The report also pointed out to angel investors’ case as dozens of angel groups are forming across the continent under African Business Angel Network, also known as ABAN’s, general banner. To build linkages is particularly difficult on angel investing.
Collins Onuegbu expressed his thoughts towards the matter saying, “Initially we could not get traction because we did not have enough members. We needed to build enough capacity to allow us to invest.” Onuegbu is a partner at the Lagos Angel Network (LAN) and he believes that getting enough people involved in the most basic struggle.
He added, “Doing that allowed us to expand our base. What we have done as LAN itself is still a work in progress. We are using syndicates to expand our capacity. We have a secretariat that has helped us build the structure that we need. It helps us link up with the startups and the pipelines.”
Moreover, the founder of NewGenAngels named Sean Obedih has addressed the need for additional linkage between African startups and Africans in the diaspora.
“There is a big part of the African population that lives outside of Africa. Everyone talks about the diaspora sending money back home, but nobody talks about what that is being used for. There is no infrastructure for channeling it into companies. That infrastructure to invest in things is what is required more than the money,” Obedih explained.