ABAN, Madica Ventures Partner to Anchor Africa’s Startup Funding in Local Hands

In a bid to enhance Africa’s homegrown investment ecosystem, the Africa Business Angel Network (ABAN) and Madica Ventures signed a Memorandum of Understanding (MoU) at the ABAN Congress 2025 in Lagos.

Focused on strengthening local capital participation across the continent, the partnership is designed to bridge long-standing gaps between early-stage startups and local investors, focusing on three critical areas, including pipeline sharing, market knowledge exchange, and ecosystem development. 

Together, both organisations aim to build a stronger foundation for sustainable startup growth driven by African investors and African capital.

Speaking at the signing ceremony, Yemi Keri, president of ABAN, said, “The future of Africa’s innovation economy depends on how effectively we can mobilise local capital and empower local investors. Our collaboration with Madica helps bridge the gap between angel investors and institutional capital, ensuring that more funding comes from within the continent, and that startups everywhere in Africa can access the right type of support to scale.”

Under the new MoU, ABAN and Madica Ventures will share access to curated, investment-ready startups, focusing on underserved regions that usually fall outside major investment hubs. 

Both parties will also facilitate direct learning between African angel investors and Madica’s global investment experts, a move expected to boost investor trust and improve deal quality across the board.

Emmanuel Adegboye, head of Madica, reinforced the partnership’s mission to go beyond funding:

“Early-stage founders in Africa need more than just capital. They need a community of investors who understand their context and champion their growth. We have seen firsthand that remarkable founders exist in every corner of the continent, yet too many remain disconnected from the capital and networks they need to thrive. 

“Through this collaboration with ABAN, we are closing that gap, aligning angels and institutional investors to work in sync, expand early funding pathways, and ensure that high-potential startups, wherever they are in Africa, have a real shot at scale.”

The agreement, which will remain active for two years, sets a foundation for more collaborative initiatives aimed at aligning local wealth with Africa’s rapidly growing startup scene.

Fadilah Tchoumba, CEO of ABAN, noted, “This collaboration reinforces our belief that Africans must finance Africa’s growth. By working with Madica, we are amplifying local capital participation and creating new pathways for investors to engage more meaningfully with the continent’s most promising ventures.”

Beyond the signatures and formalities, the ABAN–Madica partnership goes beyond capital mobilisation, it focuses on ownership, influence, and redefining the flow of investment power back to the continent.

In merging ABAN’s extensive angel network with Madica’s venture-building expertise, both organisations are bolstering how Africa’s startup ecosystem can evolve, prioritising sustainability, inclusivity, and local empowerment over dependency on foreign capital.

Africa’s next wave of innovation will be financed by Africans themselves.

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