Experts gathered at the recent UBA Business Series have pinpointed financial inclusion, the creative sector, sports, and small and medium-sized enterprises (SMEs) as the primary areas poised to generate Africa’s upcoming billion-dollar ventures. Hosted at the United Bank for Africa (UBA) headquarters in Lagos, the quarterly event gathered industry leaders and innovators to discuss the role of technology and consumer data in building high-growth companies.
Under the theme, “Building for Africa’s Realities: Turning Consumer Feedback into Technology-Driven Solutions,” the discussion highlighted how entrepreneurs are using local context and behavioral data to scale effectively. Adaora Mbelu moderated the panel, which included Chowdeck CEO Femi Aluko, artist M.I Abaga, and investor Ashim Egunjobi.
Mbelu emphasized that entrepreneurship requires keen observation to identify opportunities that others miss. Femi Aluko shared how analyzing purchasing data on the Chowdeck platform led to the creation of Chowstore, proving the value of customer insight. Meanwhile, M.I Abaga argued that artificial intelligence offers a massive advantage for African creatives, allowing them to compete more effectively on the world stage. From an investment standpoint, Ashim Egunjobi noted that the most successful ventures are those led by resilient founders, rather than those with just polished pitches.
