Fireside Chat at AfricArena: Iyinoluwa Aboyeji on Building Unicorns, AI, and Africa’s Future
- Mandilakhe Somdle
- May 14
- 3 min read
“Zuck told me, ‘What you’re building is global.’ That was my certificate of validation.” – Iyinoluwa Aboyeji
At the AfricArena Lagos Summit, two leading minds - investor Christophe Viarnaud and serial entrepreneur Iyinoluwa Aboyeji - sat down for an unfiltered fireside chat. The result? A brutally honest, deeply inspiring look into what it takes to build unicorns, harness AI, and create a future for Africa from the ground up.
Iyinoluwa, a Nigerian entrepreneur, is known for founding not one but two African unicorns. Flutterwave, a fintech platform powering payment infrastructure across borders. Andela, a global talent marketplace for software developers. Today, he leads Future Africa, a platform empowering innovators by providing capital, community, and coaching.
How a Movie Sparked a Movement
The serial entrepreneur began his entrepreneurial journey after being inspired by movies like The Social Network (2010), which tells the story of how Mark Zuckerberg and his friends founded Facebook. Beyond movies, Iyinoluwa’s entrepreneurial spirit is fueled by a desire to see Africa develop and to build something bigger than himself.
During the conversation with Christophe, he recalls how a friend and classmate of his built and sold a company to Google for $30 million - further fueling his dreams and opening his eyes to what’s possible when you do great work.
While living in Lagos and continuing his dream of building and creating impactful work, Iyinoluwa experienced a twist that felt straight out of a screenplay. The very person he was inspired by - Mark Zuckerberg, the founder of Meta (formerly Facebook), and the subject of The Social Network - actually came and spoke with him. He shared words of encouragement:
“Zuck told me, ‘What you’re building is global.’ That was my certificate of validation.”
That conversation didn’t just validate him - it pushed him to build with global ambition while staying rooted in Africa’s needs. That moment, Christophe pointed out, was like “a full-circle moment” - from the screen to real life.
Building in Africa: Challenges and Collaborations
Iyinoluwa, like many African entrepreneurs, is a builder working within the constraints of the African landscape. He shares his thoughts on how building in Africa is fundamentally different from building in Western ecosystems. There are unique challenges on the continent that aren’t found anywhere else. He emphasizes that Western solutions often don’t translate directly into the African context. Regardless of this, Iyinoluwa highlights that
“You can’t do it alone. You need allies. Partnerships can either make or break what you’re building.”
So often we hear the “lone genius” myth - but in Africa, ecosystems matter. For founders operating in emerging markets, this isn’t just advice - it’s a survival strategy.
The AI Question: Threat or Opportunity?
When Christophe raised the topic of AI - a subject both exciting and polarizing - Iyinoluwa didn’t hesitate:
“I’m bullish on AI”
He stated confidently. To him, AI reduces labor costs, expands access to knowledge, and helps level the global playing field. He illustrated this with a powerful example:
“An MBA graduate and a university student with AI tools can deliver the same output - sometimes better.”
For Africa, the takeaway is clear:
“We can’t just embrace AI - we have to hold on to it for dear life.”
Startups, Investors & Smart Capital
When the conversation turned to funding, Iyinoluwa didn’t sugarcoat things.
Iyinoluwa has raised funding from various sources and investors. He underscores the importance of having rational, transparent conversations with investors - setting realistic targets and clear expectations for the trajectory of what they’re investing in. He pointed out that African startups are actually outperforming expectations.
“For every $1 invested, $2 has been returned. The data speaks for itself.”
Finally, Iyinoluwa shared sage advice with other founders, warning them about chasing funding too early, “Build a profitable, cash-flowing business.” That, he says, is and will remain the greatest competitive edge. Moreover, before seeking external funding, founders should..
“Bootstrap until you hit meaningful revenue… If you really need capital, go to angel investors. They’re usually more patient than VCs.”
Listening to Iyinoluwa speak felt like sitting in on a masterclass - one grounded not just in success, but in real, lived experience. What stood out most in this conversation was Iyinoluwa’s clarity of purpose. He’s not just building startups - he’s building Africa’s future, brick by brick, with a deep understanding of local realities and global possibilities.
For entrepreneurs, creatives, and innovators across the continent, his story is both blueprint and inspiration.
Written by, Mandilakhe Somdle.
Watch the Full Fireside Chat
What stuck with you most? Share your biggest lesson or founder insight using #BuildInAfrica #AFRICARENA
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