At the corporate headquarters of United Bank for Africa (UBA) Plc in Lagos, entrepreneurs, investors, and technology leaders gathered for the latest edition of the quarterly UBA Business Series.
Focused on the theme “Building for Africa’s Realities: Turning Consumer Feedback into Technology-Driven Solutions,” the panel examined how African businesses can shift away from theoretical assumptions and use direct customer insights to solve real-world problems.
Key Takeaways from the Business Leaders
The conversation, moderated by media entrepreneur and innovation strategist Adaora Mbelu, highlighted three major themes: data depth, AI adoption, and sector potential.
1. Customer Behavior as a Growth Map
Femi Aluko, Co-founder and CEO of quick-commerce platform Chowdeck, shared how data directly dictates product evolution:
“Customers constantly tell you what they need. If you listen carefully, they will show you what to build next.”
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Case in Point: Observing purchasing patterns and micro-trends on Chowdeck led to the creation of Chowstore (grocery delivery via dark stores), significantly cutting delivery times and unlocking an entirely new revenue stream.
2. AI in the Creative Economy
Acclaimed rapper, entrepreneur, and investor M.I Abaga tackled the impact of artificial intelligence on Africa’s creative landscape, describing AI not as a displacement threat, but as a global equalizer.
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Global Access: AI tools allow African creators to export post-production services—such as sound design, video editing, and animation—directly to international markets.
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Direct Ownership: Digital platforms enable creators to bypass traditional gatekeepers and maintain direct relationships with their audiences.
3. High-Growth Sectors for Africa’s Next Unicorning
The panelists and investors—including Ashim Egunjobi, Co-founder of Octerra Capital—agreed that the continent’s next billion-dollar opportunities will primarily emerge from four core areas:
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Financial Inclusion
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The Creative & Digital Economy
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Sports & Entertainment Infrastructure
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Tech-Enabled MSMEs
UBA’s Commitment to Enterprise Development
Closing the session, UBA’s Head of Digital Banking, Olukayode Olubiyi, reiterated that technology is only as effective as the human problem-solving behind it.
He noted that UBA continues to use consumer insights to shape its digital banking products across its 20 African markets, promising that the bank will maintain its business series as a launching pad for knowledge exchange, networking, and capital access for African entrepreneurs.
