ⓘ Featured image: Salum Awadh, Founder & CEO of SSC Capital; Credits: Supplied
Halal Angels Network is among the first to penetrate the $5 trillion Halal consumer market has teamed up SSC Capital of Tanzania to tap the fast-growing African market.
According to Brookings Institute, more than 80 percent of Africa’s population growth over the next few decades will occur in cities, making it the fastest-urbanizing region in the world. In total, we expect annual spending by African consumers and businesses to reach $6.66 trillion by 2030, up from $4 trillion in 2015.
Halal Angels Network was launched to promote innovation, entrepreneurship and start-ups, and inspire investors across the world to tap into a sector that will be worth $9.71 trillion by 2025 (Reuters, 2019).
The angel network is adopting new, innovative technology to digitise the way they present, distribute and manage Halal-based deals. In doing so, angel investors will benefit from greater access to deal flow which can be profiled based on their interests, risk appetite and current portfolio.
Salum Awadh, Founder & CEO, SSC Capital said,
“Opportunities for investing in game-changing start-ups are ever-increasing, we currently see many solutions by entrepreneurs coming to the market with disruptive and high-growth potential business models. But all this will be massive if these entrepreneurs get the right investment, with the right mentorship, at the right time. The Halal Angels Network and SSC Capital are forming this great potential partnership, sharing decades of industry experience and exposure, and we are hopeful that it will also change the landscape of halal angel investing globally.”
Dr. Tausif Malik, Founder of Halal Angels Network, said,
“With over 1.5 billion Muslims in the world, the Halal industry offers tremendous opportunities across the Middle East, North Africa and South Asia. Based on the available data & research we focussed on signing up our first partnership in Africa with SSC Capital. We felt that SSC Capital was the right partner to tap the East African Startup & Halal market.”
Both Halal Angels Network and SSC Capital work together to co-host events in Africa, help connect investors with businesses, entrepreneurs & startups & offer consulting services.
Halal Angels Network is now calling for angel investors countries to join them and discover over 1,000 investment opportunities within the flourishing market – from pharmaceuticals and modest fashion through to food and tourism. Last month, Halal Angels Network tied up with UK’s fintech major Delio to use their digital platform showcase Halal-based deals to a much more international audience, connecting angel investors across the world not just with deals, but also with each other.