Algiers, Algeria – A group of angel investors at the recently concluded CANEX WKND 2024 in Algiers has pledged a total of US$350,000 to support three promising African creative businesses.
The investment commitment was made during the “CANEX Presents the Angels” pitch session, where 12 creative entrepreneurs from across Africa presented their business ideas to a panel of investors.
Moji Hunponu-Wusu, founder of Woodhall Capital, made the largest investment of US$250,000, backing Cameroonian fashion designer Kibonen Nfi and their brand, Kibonen.
A consortium of three angel investors, including Hunponu-Wusu, Ibrahim Sagna, and Efe Ukala, collectively committed an additional US$100,000 to the top three pitches. This investment will be shared among Zimbabwean entrepreneurs Pam Samasuwo-Nyawiri of Vanhu Vamwe, Kibonen Nfi, and Thulani Ngazimbi of The Rad Black Kids.
Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank, expressed satisfaction with the outcome of the pitch session. She emphasized that the investment would complement Afreximbank’s efforts to support African creatives through capacity building and market access initiatives.
Awani stated, “Facilitating access to angel investment like this complements our existing efforts by providing the capital required for creative entrepreneurs to maximize the benefits of our capacity building and market access interventions.”
The CANEX WKND 2024, held from October 16 to 19, attracted nearly 4,000 delegates from across Africa. The event featured a diverse range of activities, including live performances, panel discussions, masterclasses, fashion shows, and cultural showcases.
