The African Business Angel Network (ABAN) has launched an investment document template for Lusophone countries in Africa, the first of its kind. The purpose of the template is to foster, promote and unlock the potential of the Lusophone African early-stage investment ecosystem. The team that worked on the document was led by Abraham Abia (Managing Director at Clarence Abogados) and supported by Ibrahim De Carvalho and Isabel Mangue Obono (Senior Consultants at Clarence Abogados), Hannah Subayi Kamuanga (Board Member, ABAN), Fadilah Tchoumba (Secretary General, ABAN).
The document reinforces ABAN’s commitment to providing the necessary tools for angel investors and networks in Africa to excel in a very professional manner – and in accordance with local regulations. The components of the template include a term sheet, shareholders agreements, a SAFE note with a valuation cap, discount, and MFN as well as a convertible note and a subscription agreement. The documents are in both Spanish and Portuguese, with the Spanish version specifically intended to benefit Equatorial Guinea.
The release of the Lusophone investment document comes just one year after the release of a similar document for Francophone countries in Africa. The documentation will be released to the public via the ABAN website on open source, during an official launch on November 3, at the 2022 Africa Early Stage Investor Summit #AESIS2022 that will run from November 2-4.