Singapore -26th April 2023- Asahi Shimbun published a series of five articles on the latest African business titled “Africa Business NEXT: Survival in the Future Market” in March. In the first article, “Leap the Frog: Technological Breakthroughs in Africa’s Hot Silicon Valley,” the newspaper reported on AAIC Investment Pte. Ltd.’s fund activities in Nigeria (print edition dated March 22, 2023, digital edition dated March 15, 2023).
Nigeria, located in West Africa, is the country with the most investment in startups in Africa. The Yaba area in Lagos City, which is the largest city in Nigeria, is home to many startups and is known as “Yabacon Valley,” a cross between Silicon Valley.
The article includes the story of how Drugstoc (Nigeria’s largest online health insurance company) and Reliance Health (Nigeria’s largest online health insurance company), two of our portfolio companies, started their business, as well as the comments on the potential of the Nigerian market from Ichinomiya, President of AAIC Nigeria.
The article can be accessed at the following link (Asahi Digital, paid article, in Japanese)
“Leap the Frog: Technological Breakthroughs in Africa’s Hot Silicon Valley,”