The session, titled “CANEX Presents the Angels,” showcased 12 innovative entrepreneurs from 10 African nations, all selected to pitch their business ideas in hopes of securing funding for growth and expansion.
Moji Hunponu-Wusu, the Founder of Woodhall Capital, made the largest commitment of US$250,000 in equity by providing an investment term sheet to Cameroonian fashion designer Kibonen Nfi, the creator of the Kibonen brand.
Additionally, a consortium of three angel investors—Ibrahim Sagna, Chairman of Silverbacks Holdings, Moji Hunponu-Wusu, and Efe Ukala, Founder of ImpactHER—contributed an extra US$100,000, agreeing to invest in the top three pitches of the competition.
This investment will be allocated to Zimbabwean entrepreneur Pam Samasuwo-Nyawiri of Vanhu Vamwe, whose pitch secured first place, followed by Ms. Nfi in second, and Thulani Ngazimbi of The Rad Black Kids, who achieved third place.
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| Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank (3rd left), Stephen Tio Kauma, Group MD Human Resources, Afreximbank (2nd left), Ody Akhanoba, Senior Manager Export Development, Afreximbank (left), together with the top three creative entrepreneurs who presented their pitches to the Angel Investors |
Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development Bank at Afreximbank, remarked that the competition aims to stimulate financing that complements the capacity-building and market access support provided by the CANEX platform for African creatives.
“Facilitating access to angel investment like this enhances our ongoing efforts by supplying the necessary capital for creative entrepreneurs to fully leverage our capacity-building and market access initiatives,” stated Mrs. Awani, further noting, “The investments in these creative enterprises will empower them to grow their businesses, engage in cross-border trade, generate new employment opportunities, and contribute to economic development.”
The CANEX WKND 2024 took place over four days, from October 16 to 19, under the theme “One People, United in Culture, Creating for the World.” The event attracted nearly 4,000 delegates from various creative sectors throughout Africa. It included live performances, keynote speeches from industry leaders and experts, masterclasses, fashion shows, sporting events, energetic music concerts, and culinary showcases, all complemented by a lively market and exhibition.