NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, June 15, 2018

By Vernon Wessels and Sarah Syed

LeapFrog Investments Ltd. is investing in one of Nigeria’s largest pension-fund managers to tap rising demand for retirement products among low-income consumers in Africa’s most populous nation.

The private-equity investor, which has interests in healthcare and financial-services businesses spanning 149 Asian and African markets, didn’t disclose the terms of the deal with ARM Pension Managers Ltd. in a statement on Friday. ARM Pensions has $1.8 billion in funds under management reaching about 700,000 people through 57 locations across the country, it said.

Photo courtesy of GotCredit.