Asia Africa Investment & Consulting Pte. Ltd. (AAIC) and Rakuten Europe have launched the AAIC-Rakuten Africa Innovation Project. The project aims to create solutions to social challenges across Africa through technical and management mentorship aimed at promoting business growth for startups across Africa.
In a statement from Toby Otsuka, the CEO of Rakuten Europe said, “By collaborating with AAIC and engaging in dialogue with startups that are confronting local challenges head-on, we hope to solve social challenges with our partners as a team leveraging Rakuten technology and business assets.”
What this means is the startups working with AAIC-run Africa Healthcare Fund, information and expertise will be shared between Rakuten to achieve countermeasures that effectively solve social challenges. Rakuten can then use its technological expertise in a wide range of fields from e-commerce to fintech, communications, and digital content while helping grow local businesses through mentorship.
Rakuten offers 70 different services based on a mission to empower communities, individuals, society, and businesses. Rakuten took part in the Japan International Cooperation Agency (JICA) SDG Business survey program where they partner with private enterprises working across Rwanda to overcome social challenges through the adoption of technological expertise to build insurance systems running on blockchain technology and relying on drones for agriculture.
AAIC is a growth equity fund targeting developing countries by leveraging the three pillars of human resources, funds, and strategic consulting.