African Development Bank joins World Business Angels Investment Forum board


The World Business Angels Investment Forum announced the African Development Bank as its newest Board Member.

The bank will represent Africa’s early-stage equity markets, angel investors,  entrepreneurship and startup ecosystems, small and medium enterprises and high-growth businesses and private equity funds.

The African Development Bank Director of Industrial and Trade Development, Abdu Mukhtar will occupy the bank’s board seat.

“We are delighted to have the African Development Bank Group as a global board member of the World Business Angels Investment Forum. I am confident that by including AfDB, WBAF will be able to provide a wide range of opportunities for start-ups, scaleups and high growth businesses in Africa—ones that will open the doors for economic development. By working together across borders, with a common vision, and with these smart dynamics in mind, we are well placed to bring about positive change in Africa and the global economy.” Said Baybars Altuntas, WBAF’s Executive Chairman.

The World Business Angels Investment Forum helps start-ups to access finance with the goal of generating more jobs and social justice worldwide.

The African Development Bank, the only bank with Triple-A credit rating, works to improve living conditions in Africa by promoting public and private capital investment in projects with the potential to drive regional economic and social development.

The bank had a capital base of $208 billion as of November last year.

‘I am excited about joining the WBAF Board and am quite impressed by its vision. Support for innovation, entrepreneurship and SME development is very important to us, especially since these areas are directly linked to some of our development objectives, including job creation and women empowerment. I look forward to working with the experts on the WBAF Board to advance these objectives. I am sure WBAF and AfDB will create a great impact on the startup, angel investment and SME markets of Africa. The ultimate goal is to produce more jobs and social justice in Africa.” Said Director Mukhtar.

WBAF’s Executive Chairman further added that he believes in the bank’s efforts to convert the world and Africa economy to a smart economy in cooperation with the World Business Angels Investment Forum will be very productive.

Also Read: African Development Bank approves $27.33m to African Union


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