By Tom Jackson Disrupt-Africa.com
The Halal Angels Network (HAN), the first investor group set up to penetrate the $5 trillion global halal consumer market, has teamed up with Tanzania’s SSC Capital to explore opportunities across Africa.
The Halal Angels Network was launched this year to promote innovation, entrepreneurship and startups in the halal market, which is projected to grow to be worth almost US$10 million by 2025.
It 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.
HAN has partnered with Delio, a leading fintech company, for transparency regarding deal flow, as well as the Halal Board India. It is now seeking African opportunities after partnering SSC Capital, a corporate advisory and investment management firm.
The partners will work together to co-host events in Africa, connect investors with startups, and offer consulting services. HAN is calling for angel investors in African countries to join and discover over 1,000 investment opportunities within the flourishing market – from pharmaceuticals and modest fashion through to food and tourism.
“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 and research we focused on signing up our first partnership in Africa with SSC Capital,” said Dr Tausif Malik, founder of the Halal Angels Network.
Salum Awadh, founder and chief executive officer (CEO) of SSC Capital, said opportunities for investing in game-changing startups were increasing in number.
“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,” he said.
“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.”