25 February 2025, Kigali, Rwanda — Africa’s Sports and Creative sectors stand in anticipation of a dynamic transformation. With a surge in digital innovation, a thriving youth demographic, and an ever-expanding global audience, these industries have become key players of economic potential. However, a critical funding gap remains - one that limits emerging startups from scaling and competing on an international stage. To bridge this gap, the African Business Angel Network (ABAN) and a consortium of prominent market players are proud to announce the launch of Africa’s Sports & Creative Early Stage Investor Network. This initiative, developed with the contributions of industry leaders like TRACE, El Carnaval Limited, and Punuka Attorneys & Solicitors, is dedicated to mobilizing angel capital for high-growth startups in these sectors.
TRACE, renowned for empowering African talent and facilitating the growth of entertainment, and digital media, has been pivotal in driving the continent’s creative economy forward. By contributing to this new network, TRACE brings its vast network and expertise in talent development, having worked with major artists and content creators across the continent. El Carnaval Limited, a staple in the African entertainment scene, continues to shape the music, fashion, and digital content landscapes. Their deep industry connections and track record of hosting influential platforms for creative professionals are crucial to this initiative’s success. Meanwhile, PUNUKA Attorneys & Solicitors, a leading law firm committed to fostering innovation and investment, brings its extensive experience in legal and business advisory to ensure a robust foundation for investors and startups. Jointly, these partners have made significant strides in their respective fields and are now collectively working to fuel Africa’s creative and sports industries with much-needed capital and mentorship.
This initiative is not just about providing financial support but also about empowering entrepreneurs with mentorship, skills development, and access to markets. By ensuring long-term sustainability, it will elevate the next wave of sports and creative entrepreneurs across Africa, equipping them to scale their businesses and compete globally.
Startups in sports tech, entertainment, fashion, gaming, film, music, e-sports, and digital content creation require more than just funding; they need strategic investors who bring expertise, networks, and market insights. Yet, the absence of structured angel investor networks tailored for these sectors has left many promising ventures struggling to scale.
“Africa’s sports and creative industries have the potential to be economic giants, but they need capital that understands their unique value. The launch of this investor network marks a groundbreaking moment, it bridges the gap between capital and creativity, unlocking new investment opportunities while strengthening Africa’s position as a global leader in innovation and culture.” Fadilah Tchoumba, CEO of ABAN.
The Power of Angel Investors in Driving Sector Growth
Angel investors play an important role in early-stage funding, offering patient capital, sector-specific knowledge, and a collaborative approach that de-risks investments. Through this network, investors will co-invest in promising startups, ensuring the industries’ best ideas receive the backing they need to flourish.
“Africa’s sports and creative industries are more than just entertainment - they are powerful engines of economic growth, cultural influence, and global storytelling. Yet, too often, the visionaries driving these industries lack the capital needed to scale their ideas. At TRACE, we believe in the power of African creativity and its ability to shape the world. That’s why we are honored to be part of this movement to bridge the funding gap, empower bold entrepreneurs, and ensure that African talent not only thrives locally but also commands its rightful place on the global stage.” Gwladys Watrin, Vice President of Corporate Development, TRACE
“I am excited to become part of the Angels network and its mission to empower African creatives. Having observed the incredible talent and potential of African artists over the last 20 years, especially in the context of the growing digital economy, I am confident that, together, we can create transformative economic opportunities for African youth and amplify their creative impact on a global scale.” Matthew Ohio, Founder, El Carnaval Limited
“At PUNUKA Attorneys & Solicitors, we are proud to partner with ABAN as a consortium partner to empower early-stage investment in the African Creative and Cultural industries. We see this collaboration as an opportunity to continue to offer high-quality advisory services to investors seeking to fund Africa’s creative and cultural industries in a sustainable manner that deepens their ecosystems.” Isioma Idigbe, Partner, PUNUKA Attorneys & Solicitors
The launch of this investor network marks an important moment for ABAN and Africa's Sports and Creative Industries as an entity. These sectors, rich in untapped potential, are set for exponential growth, but they require a tailored approach to investment, one that recognizes their unique challenges and opportunities. With a specialized focus on sports, this network aims to provide the strategic support and capital needed to accelerate innovation and entrepreneurship, giving Africa’s sports industry the chance to shine on the global stage.
“Investing in Africa’s sports and creative industries is not just about financial returns; it’s about reshaping narratives, building sustainable businesses, and positioning Africa as a global hub for sports innovation and creative excellence. This network is the missing piece that will enable these industries to thrive,” Yemi Keri, ABAN President.
The network will focus on four operational pillars, each designed to drive growth and support for the sector, providing a strategic advantage that ensures long-term sustainability and success across Africa’s sports and creative industries.
1. Education & Capacity Building: Equipping investors with specialized knowledge on due diligence, valuation, and deal structuring in the sports and creative industries.
2. Investment Facilitation: Connecting angel investors with high-potential startups seeking capital.
3. Mentorship & Advisory: Pairing entrepreneurs with seasoned investors and industry veterans to accelerate business growth.
4. Networking & Collaboration: Creating platforms for investors, startups, and ecosystem stakeholders to exchange insights and forge partnerships.
This ambitious initiative is made possible through the collaboration of ABAN, El Carnaval Limited, TRACE, and PUNUKA Attorneys & Solicitors, all bringing extensive expertise in capacity building, investment facilitation, deal structuring, and market access.
The time to invest in Africa’s sports and creative industries is now. This network is calling on forward-thinking investors who recognize the untapped potential within these sectors to be part of a movement that will define the future of African entrepreneurship.
For partnership opportunities and investor membership inquiries, contact secretariat@abanangels.org
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About ABAN
ABAN is the largest pan-African organization of Angel investors in Africa. Established in 2015, ABAN represents the growing number of business angel groups in the African early-stage ecosystems’ future, providing vital human and financial capital to African startup companies creating jobs across the continent. Today, ABAN is a 75-member network in 37 African countries and the Diaspora representing over 5,000 angel investors. To learn more about ABAN’s work and how you can be part of Africa’s thriving entrepreneurial future, visit the ABAN website.
About TRACE
TRACE is a global multimedia platform dedicated to empowering and elevating Afro-urban culture through music, entertainment, and education. Founded in 2003, TRACE has grown into a leading brand reaching over 350 million viewers and listeners across 180 countries. With a diverse portfolio of TV channels, digital platforms, radio stations, live events, and Trace Academia—its free online learning platform - TRACE is committed to amplifying African and diasporic creativity while fostering opportunities for young talents. As a key player in the creative and sports industries, TRACE continues to champion innovation, cultural equity, and economic inclusion across the global entertainment landscape. Visit trace.plus for more information.
El Carnaval Limited
El Carnaval Limited is a leading entertainment and media company, founded in 2009, specializing in concert production, event promotions, experiential marketing, and talent management. The company’s mission is to transform African narratives by spotlighting Afrocentric cultures and Afrobeat music while showcasing the continent's rich creative talent. Visit the El Carnaval Limited website for more information
PUNUKA Attorneys & Solicitors
PUNUKA Attorneys & Solicitors was established in 1947 and is today a fully integrated and multi-dimensional business law practice providing legal services to a highly diversified client base, with eleven (11) Partners, and over thirty (30) Associates. Its leading and award-winning Media and Entertainment practice led by Isioma Idigbe, a seasoned and respected African Media & Entertainment lawyer, represents clients in both contentious and non-contentious matters in the Creative and Cultural industries. Visit the PUNUKA Attorneys & Solicitors website for more information.
Media Contacts
For further information, media inquiries, interviews, or high-resolution images, please contact Communications Lead:
Amimo Achillah
Email: amimo@abanangels.org