The Namibia Business Angel Network (Naban) held its first Investor Link-up of the year in Windhoek on Tuesday, 28 February 2023, sponsored by First National Bank of Namibia.
The Investor Link-up is aimed to foster collaboration, innovation, and knowledge sharing among key stakeholders in the start-up ecosystem. Local business angels, aspiring angel investors, and other investors in the Namibian funding ecosystem converged to explore new business opportunities and establish mutually beneficial commercial relationships. Experts in various fields shared their insights and experiences, providing valuable knowledge to the audience of angel investors, entrepreneurs, and other stakeholders.
“One of the biggest angel investors in the country is the government,” said managing director of EOS Capital Immanuel Kadhila. He urged angel investors and start-ups to encourage government to establish a progressive tax system based on the size of a business, incorporating tax brackets for small businesses. This will allow tax rates for start-ups to rise as profits increase.
“Money follows where there is potential for returns,” said Vetumbuavi Mungunda, Founder of Ombu Capital and one of the key speakers at the event. He emphasised that potential returns should be risk-adjusted and well explained to investors. One of the attendees, Fernando Barnard from Momentum Metropolitan said; “I think the investors’ event was exceptional. Bridging the gap between entrepreneurs and investors is just what we need in this economy.”
Naban comprises 21 individuals from different professional backgrounds. All angels believe in the importance of entrepreneurship as a catalyst for economic growth and are willing to invest their private excess money in start-ups, in exchange for shares in the company. In addition to a cash injection, the start-up founder benefits from the network of their new business partners, who, in many cases, also act as mentors. Naban meets once a month to discuss recent trends and developments in the start-up ecosystem. Every quarter, it holds a pitch event where promising founders can present their company and pitch to secure an investment. By membership agreement, each investor has committed to do at least one start-up investment per year.