AAA launches Cohort 12, training angels to fund early stage African startups. Applications close 10 September 2025.

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The African Angel Academy has announced Cohort 12, building on five years of training new and active angel investors across the continent. The launch comes as Africa’s early stage businesses face a 194 billion dollar annual financing shortfall, which the African Development Bank equates to roughly 7 percent of the continent’s GDP. The Academy’s model focuses on practical skills, tools, and networks that help angels mobilize fast and flexible capital for founders.

What the Academy has achieved so far

Since its inception, the African Angel Academy has trained more than 770 investors from over 26 African countries. Those alumni have supported innovation in fintech, health tech, agriculture, climate solutions, and education. To date, the Academy reports 216 facilitated deals that have unlocked 53.6 million dollars for startups and innovation. Of that total, 7.2 million dollars represents direct investments by angels trained through the program. Curated startup showcases have already resulted in 10 deals worth 1.8 million dollars, signaling growing momentum within the community.

Lessons from Cohort 11

Cohort 11 gathered over 100 participants from more than 25 countries, including Nigeria, Kenya, South Africa, and Egypt. The Academy blends self paced learning with live, interactive sessions led by experienced African angels and continues support post program through an active alumni network for deal flow, syndication, and peer learning.

“Angel investing in Africa has moved beyond hobby investing, it is now a strategic lever for economic transformation,” said Stephen Gugu, angel investor, co founder of the African Angel Academy, and Director at ViKtoria Ventures. He noted that angels in the last cohort backed early stage ventures with cheques from 1,000 to 50,000 dollars, amounts that are often too small for venture capital but transformational for founders. According to Gugu, 60 percent of participants in Cohort 11 were new to angel investing, and 35 percent were women, which is notably above the typical global range for female representation in angel networks.

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What Cohort 12 offers

Cohort 12 is fully online and offers two sequential tracks that can be taken individually or combined as a Full Programme Experience.

Track 1, Mechanics of Angel Investing

Dates: 17 September to 29 October 2025
Focus: Foundation skills for new angels
Format: Self paced modules on Thinkific, live Q and A sessions and master classes on Zoom, simulations, and peer engagement on WhatsApp

Track 2, Advanced Angel Investing

Dates: 5 November to 10 December 2025
Focus: A deep dive for experienced investors, including structures for syndication, portfolio building, and practical decision making
Format: The same blended approach, with increased emphasis on collaborative learning and real deal discussion

Speaking about the program design, AAA Programme Manager Fiona Kiruja said, “When we launched AAA in 2020, our mission was simple, bring angel investing out of the shadows and create a space where new and seasoned investors could learn, connect, and back Africa’s boldest startups. Four years and 11 cohorts later, we have listened to our community, what works, what is missing, and what is next. Cohort 12 is the result, more dynamic, flexible, and personal than ever before.”

Trainers and community

Guided by the tagline, for angels, by angels, the trainer network features seasoned investors including Stephen Gugu, Alexandra Fraser, David van Dijk, Michelle Matthews, Sewu Steve Tawia, and SG Laubscher. Participants get direct exposure to practitioners who are shaping Africa’s early stage capital markets, while the alumni community provides ongoing access to deal flow, co investment opportunities, and peer support.

“As AAA marks five years of building this community, we are not just training investors, we are connecting them to opportunities that can transform Africa’s innovation economy,” Gugu said. “Cohort 12 is about turning knowledge into action, and action into measurable impact.”