What It Really Takes to Build a Business in Africa

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Fast cars, weekend getaways, expensive art, and endless cash. That’s what Instagram says the life of an entrepreneur looks like. But let’s be honest—how much of that is real?

In recent years, “entrepreneur” has become a title everyone wants to wear. Whether it’s selling luxury hair, skincare products, or launching the next big app, everyone’s getting in on the action. But behind the aesthetic feed and hustle culture hashtags, what does it actually take to build and sustain a business? Spoiler alert: it’s not all filtered perfection.

This question has been on my mind for a while, and thanks to a guest session with Lanre Oyedotun, I finally got a look behind the curtain. Lanre is the Co-Founder and CEO of Delivery Science Inc., a Lagos-based techno-logistics company helping businesses track their delivery operations using mobile-first tools. In plain terms, they make sure companies know where their products are, how they’re moving, and who’s managing what.

Modern coworking space in Lagos with open laptops, coffee mugs, plants and African art on the walls.

Our session kicked off around 5:30 p.m. with a warm intro from Tony Idugboe, VP and Head of Investments at Itanna, and a longtime friend of Lanre. From the first moment, it was clear this wasn’t going to be your typical startup success talk. Sitting comfortably (but literally on the “hot seat”), Lanre began walking us through his personal story—from his first venture, TopUpGenie, a platform for vending airtime, to the real-world experiences that shaped him as a founder.

African entrepreneur working late alone at a small desk under warm street lighting, focused and writing next to a laptop.

That first startup? It didn’t work out. And Lanre didn’t sugarcoat it. “Failure isn’t really a bad thing,” he said. “What matters is how you turn failure into something useful—or even an opportunity.” That honesty hit differently. Instead of quitting, he pivoted. He dabbled in logistics, hiring drivers to deliver goods around Lagos. But that business brought a fresh set of headaches: late deliveries, no-shows, and a lot of missed opportunities. Instead of complaining, he built a solution—and that solution became Delivery Science.

Lanre’s session wasn’t just motivational—it was practical. Here are a few of the key takeaways I walked away with:

First, people are everything. Your product can be amazing, your tech can be flawless, but if your team isn’t empowered, your startup will struggle. Lanre talked about how Delivery Science invests heavily in employee development. Many of their team members have gone on to work at companies like Paystack—proving that good talent, when nurtured, creates long-term value not just for your company, but for the ecosystem.

Second, know your stakeholders. You can’t build in a vacuum. Lanre emphasized the importance of researching your users, your partners, your regulators—everyone connected to your product. If your solution only makes sense to you, you’re going to struggle to scale it. Building stakeholder-friendly products isn’t just smart—it’s essential.

Top view of a bright workspace with African-themed accessories, sticky notes, notebooks, and a laptop on a white desk.

Third, resilience matters. Lanre could’ve walked away after his first venture failed. But he didn’t. He learned, adapted, and came back stronger. That mindset is what sets successful entrepreneurs apart—not some secret hack or overnight success story.

And lastly, there’s opportunity hidden in the chaos. Nigeria has its challenges—no doubt. But those same challenges are also startup goldmines. If something’s broken, and it frustrates you, chances are someone else feels the same. And if you can fix it, you’ve got a business.

To say the session was valuable would be an understatement. Lanre didn’t just inspire the room—he brought clarity. Entrepreneurship is not just about big ideas or viral moments. It’s about grit, teamwork, timing, and yes, sometimes a little luck. And I’d be remiss if I didn’t shout out Mr. Ore Omolaja, VP of Distribution at Delivery Science, who also helped field questions from our cohort. His insight added even more depth to the conversation.

So no, the entrepreneur life isn’t all champagne and jets. It’s long hours, hard questions, and more than a few bumps along the way. But as Lanre showed us, if you stay the course, there’s something incredibly powerful at the other end. Not just the photo-worthy wins—but the kind of experience that’s worth sharing in rooms like this one.

We empower Africa’s brightest entrepreneurs through targeted investment, hands-on mentorship, and access to Honeywell Group’s expansive network. From Lagos to the continent and beyond, our mission is to help visionary founders turn bold ideas into scalable, impactful businesses.

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The Enterprise Factory, Iganmu, Lagos, Nigeria