Budding entrepreneurs in Togo can now have reason to smile and go full-throttle on their ventures. Especially if the given venture is promising, scalable, and highly-impactful. That is because they have a new support in town, the newly launched Togo Business Angels Network (TBAN).
TBAN’s goal is to create an enabling environment that encourages entrepreneurship growth, and provide financial assistance to their ventures to scale up. TBAN is the latest addition to the growing number of localized angel investment networks running across Africa, which are under the umbrella angel investment group, Africa Business Angels Network (ABAN).
TBAN has already 78 members (angel investors), who are ready to capitalize on the “awakening of entrepreneurship” in Togo, says John Agbenou, one of the members of TBAN.
“Togo is a country where there is a kind of awakening of entrepreneurship compared to other countries in the subregion. You would be surprised by the potential we see. The idea behind the Togo Business Angels Network is to create a framework that can enable young Togolese entrepreneurs to prove their potential in order to benefit from the financing of business angels and others.
It is necessary because several projects run by young people lack support, and fail for lack of means,” said Agbenou during an interview with a section of the media.
Its first activity in Togo will be hosting monthly Demo Entrepreneur events, where promising entrepreneurs will be invited to pitch before a panel of investors. The event’s purpose is to identify at least two promising startups each month and give them the TBAN support.
TBAN is also reaching out to financial institutions, local business community, and the government to come together with a program that will support local entrepreneurs. An avenue where people in power and influence can make sure local talents and entrepreneurship are supported.
“The field of business angel investors in Togo is virgin to explore… Now, we would just like to invite business angels to Togo, to come and join a Demo Entrepreneur meeting and invest in some young companies.”