The World Business Angels Investment Forum recently announced African Development Bank as its newest Board Member, a position that will see the Bank represent Africa's early-stage equity markets, entrepreneurship and startup ecosystems, small and medium enterprises and high-growth businesses, angel investors, and private equity funds.
The forum promotes access to finance for businesses from start-up to scale-up, with the goal of generating more jobs and social justice worldwide.
"I am confident that by including the African Development Bank, World Business Angels Investment Forum 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 the Africa and global economy," said Baybars Altuntas, Executive Chairman of World Business Angels Investment Forum.
Abdu Mukhtar, the Bank's Director of Industrial and Trade Development, will occupy the Bank's Board seat.
'I am excited about joining the World Business Angels Investment Forum 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," said Director Mukhtar.
The African Development Bank is Africa's preeminent Development Finance institution with a capital base of $208 billion as at November 2019.