IFCL was retained by a Multilateral Development Bank to investigate challenges in access to finance for technology entrepreneurs in Southern Africa. The report addressed lessons learned from a program focused on matching angel investors with entrepreneurs. The report provided an analysis of financing gaps for high-growth technology entrepreneurs in Zambia and Mozambique. It also explored the unmet needs of entrepreneurs, especially in the ICT, climate technology and innovative agribusiness sectors, in accessing private capital sources of early-stage and growth financing. It provided analysis of the currently available sources of finance and explored the challenges angel investors experience in attempting to finance early-stage growth financing.