Eric Annan’s journey into blockchain began after early success in Bitcoin investing, when the cryptocurrency was valued at just $350. Rather than continuing as a speculator, Annan became deeply fascinated with the underlying blockchain technology, seeing it as a transformative tool for Africa. He viewed blockchain as a leveling force, capable of granting unprecedented access and opportunities to African entrepreneurs.

Before entering crypto, Annan pursued entrepreneurship, leaving his role at Huawei in Ghana (2013–2014) to start a VoIP business in Nigeria, which ultimately collapsed due to regulatory changes affecting dollar transactions. This setback pushed him toward cryptocurrency in 2016, leading to the creation of Digital Coding, one of Nigeria’s first crypto exchanges with efficient OTC and on-ramp/off-ramp solutions. The venture was profitable and established his reputation in the emerging crypto ecosystem.

Learning Through Failure: KubitX and the Birth of Aya HQ

Annan’s next venture, KubitX (2018), sought to advance blockchain adoption and user education in Africa, including leveraging stablecoins and trade finance in partnership with Interswitch. Despite his ambitions, the venture failed, highlighting the importance of trust and collaboration within the African blockchain ecosystem. This experience underscored that founders were capable but often worked in silos, lacking shared infrastructure and mentorship.

From these lessons, Annan conceptualized Aya HQ, initially envisioned as a Web3-focused community akin to TalentQL, designed to vouch for African talent and provide a trusted ecosystem. Early iterations revealed a scalability challenge: the available talent pool could not fully utilize Aya’s infrastructure, prompting a shift toward a training-first model.

Aya Fellowship: Building Skills and Collaboration

Aya Fellowship was launched to train blockchain enthusiasts and founders in four key areas: Problem-solving, Adapting, Creativity, and Empathy (PACE). The program adopted a team-based approach, emphasizing collaboration to develop market-ready products (MVPs).

• Initial cohort goal: 100 individuals

• Applications received: over 8,000

• First cohort trained: 300 individuals in teams

• Outcome: 20 market-ready products developed

This methodology reflected Annan’s belief that collaborative problem-solving and trust are critical to building sustainable African tech ventures.

Aya HQ Today: Africa’s Premier Web3 Incubation Hub

Building on the Fellowship’s success, Aya HQ evolved into a full-fledged incubation programme, now one of Africa’s largest in the blockchain and crypto space, with over 50 projects incubated. Strategic partnerships, such as with Lisk, reinforce Aya HQ’s mission of supporting blockchain projects that address real-world African problems, moving beyond speculative token creation.

Through Aya HQ, Annan has created a trusted, collaborative ecosystem, helping African builders not only access funding and mentorship but also learn the science and art of startup building—a philosophy shaped by his own early failures and triumphs.