The Togo Business Angels Network (TBAN) has been launched, with the aim of creating an enabling environment to encourage and financially support young entrepreneurs in the country.
TBAN is the newest addition to the growing number of localised angel investor networks operating Africa-wide, spurred on by the work of parent initiative the Africa Business Angels Network (ABAN).
The new network has now launched in Togo with 78 members, as the country begins to experience an “awakening of entrepreneurship”, says John Agbenou 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,” Agbenou says.
“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.”
By way of its first activity, TBAN has launched the monthly Demo Entrepreneur event, inviting entrepreneurs to present their projects to investors. The end-goal is to see at least one to two startups supported on a monthly basis.
The organisation is also engaging with financial institutions, businessmen, and the authorities, with a view to addressing the barriers hindering entrepreneurs and investors, as well as collaborating to build a conducive environment.
“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,” Agbenou says.