5 highly successful African business leaders share their best business advice

To help in this process, Business Insider Africa asked several highly successful entrepreneurs and business leaders during an exclusive interview to share some of their biggest business lessons. Read on to see what the founders of brands like Paystack and MFS Africa had to say.

MD/CEO of Endeavor Nigeria, Tosin Faniro-Dada: Focus on long-term value creation.

Tosin Faniro-Dada BI Africa

My advice to aspiring or starting entrepreneurs is to focus on long-term value creation and never lose sight of the "why." Entrepreneurship can be a long, lonely, and arduous journey, so make sure what you are working on will stand the test of time. Avoid jumping on trends just because they are popular and focus on ventures with tangible long-term benefits.

Head of Growth, Rest of Africa at Flutterwave: Find people who believe in your vision.

Munya Chiura BI Africa

Collaborations and partnerships are crucial. Get the right people on board, pool resources, align your visions and be strategic with your methods towards achieving your goals. Doing these will surely tip the scales in your favour.

CEO Paystack, Shola Akinlade: Focus on solving one problem.

Shola Akinlade BI Africa

Businesses are bought, not sold. The most important thing is to choose a problem you are excited about solving and focus on that every day.

Founder and CEO of MFS Africa, Dare Okoudjou: There is no perfect time to start a business.

Dare Okodjou BI Africa

There is no perfect time to start a business. Whether a crisis is caused by tough economic times or caused by a pandemic, new needs arise that could be short-term or enduring. To be more precise, many of the same needs remain, but they need to be met differently. Ultimately, it depends on the business. The pandemic has had a significant impact on all aspects of life, but pandemics eventually go away. As long as you are creating products that address consumers' immediate needs during that time, you can set up a successful business.

Founder of Sari for Change, Rayana Edwards: Stay authentic.

Rayana Edwards via Google Images

Trust your instincts, you will always have naysayers, but most times, they are your teachers. When your intention is clear on “why you are doing what you do”, your “how” will manifest. Ensure you are part of good networks and share your story and ideas all the time. Stay authentic, and if you can see your vision and you are consistent in action, something has to shift.