Collins Sefa The Association of African Startups (TAAS) is advocating for a stronger entrepreneurial voice in policy-making to strengthen Africa’s business ecosystem. At the recent Build Initiative conference in Lagos, TAAS President Just Omomo Ibe underscored the importance of aligning policies with real-world entrepreneurial experiences to drive sustainable growth across the continent.
Entrepreneurs Must Be Heard
“Policies concerning entrepreneurship in Nigeria should not be made without consulting those at the forefront of the industry,” Ibe emphasized during the event themed ‘Building Profitable and Thriving Businesses in Africa’.
She pointed out that African entrepreneurs contribute significantly to GDP and economic transformation, yet often remain sidelined in policy dialogues.
Highlighting the low survival rate of startups—many of which fail within five years—Ibe stressed the urgent need for collaborative governance, strategic support, and knowledge-sharing to cultivate generational businesses across Africa.
TAAS’s Commitment to Entrepreneurial Support
Ibe also announced TAAS’s plan to launch a resource center, consolidating over 300 business development tools curated over the past five years.
“Whatever level of challenge an entrepreneur meets, there are answers in our resource,” she said. “We gathered the finest experts globally to ensure African entrepreneurs can build without the constant fear of failure.”
These tools are structured around five key frameworks, beginning with faith and environmental stewardship, which encourages entrepreneurs to align business goals with purpose, sustainability, and regional relevance.
Proactive Systems for Long-Term Success
Dr. Oludare Akinlaja, CEO of Oludare Akinlaja Research and Development Company, spoke on the importance of proactive systems in business planning.
He explained that entrepreneurs must develop risk anticipation skills, identify emerging opportunities, and adapt to market changes with agility.
“Starting a business out of frustration is often a recipe for failure,” he warned, adding that faith and foresight can be strategic advantages in decision-making.
Strategic Partnerships as Catalysts for Growth
Ibukun Omololu, Principal Consultant at The Teal Tree Company, emphasized the role of partnerships and stakeholder engagement in scaling businesses.
She outlined five core areas for building strong stakeholder networks:
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Identifying and nurturing partnerships
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Building and maintaining stakeholder trust
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Implementing engagement strategies
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Leveraging collaborations
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Continuously evaluating impact
Business Success Lies in Simplicity and Scalability
Adding a practical business lens, Ewaen Sorae, Group Managing Director of Esorae Luxury, challenged the myth that entrepreneurs need huge capital or flashy ideas to succeed.
“Great businesses don’t always begin with complex ideas. It’s about spotting market gaps and serving them efficiently,” he said.
He encouraged aspiring entrepreneurs to bootstrap, reinvest profits, and focus on market scalability, citing examples of successful African brands that achieved dominance by being lean, innovative, and customer-focused.
Retail, Wholesale, and Distribution: The Balance of Trade
Sorae also shared valuable insights into the roles of retail, wholesale, and distribution in commerce. While retail offers higher margins, wholesale allows market control, and distribution ensures consistency and reach. He encouraged businesses to:
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Reduce middlemen involvement
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Secure supplier credit
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Innovate in logistics for competitive advantage
However, he acknowledged challenges such as infrastructure deficits in Nigeria, stating that local entrepreneurs often have to build supply chain systems from scratch—a contrast to developed economies with efficient logistics networks.
The Build Initiative not only ignited important conversations about Africa’s startup ecosystem but also reaffirmed TAAS’s mission: to equip African entrepreneurs with tools, partnerships, insights, and a voice in shaping the future of business on the continent.
By pushing for inclusive policy-making and offering resource-rich frameworks, TAAS is laying the foundation for a thriving, self-reliant generation of African entrepreneurs.
