Despite the prevalent economic anxieties triggered by the COVID-19 pandemic and Russia’s invasion of Ukraine, Flutterwave’s CEO, Olugbenga “GB” Agboola, remains bullish about the future of African startups. Flutterwave, an African payments firm currently valued at $3 billion, has been a force to reckon with in Africa’s tech industry and has laid the groundwork for other startups to flourish.
Agboola is confident that Africa’s digital economy will experience a rapid expansion in the coming years, with substantial potential for investment returns. He asserts that African startups can emulate Flutterwave’s success by starting small, continuously improving their services, and leveraging domestic and foreign alliances to establish a foothold in the African startup ecosystem. As more African startups attain success, the continent will increasingly attract the attention of top Silicon Valley investors and partners, leading to further expansion.
According to Agboola, Flutterwave’s ability to foster partnerships has been one of the company’s strengths, and he believes that other startups can benefit from collaborating with like-minded businesses. He highlights the increased investment in African startups as an indication of the continent’s untapped potential for growth.
Agboola perceives that the intricacies posed by the COVID-19 pandemic and other global occurrences are capable of testing the mettle of many, but he acknowledges the agility of startups as a quality that enables them to withstand these hardships. He cites Flutterwave, which was originally established as a basic payment option for Africans but has since burgeoned into a giant in the digital payments industry, as an exemplar of this versatility. The company’s recent initiatives, such as Flutterwave Market and Send, and its purchase of Disha, a platform for creators, are demonstrations of the company’s foresight and its conviction in its area of operation. Agboola is of the view that African startups are capable of further expansion and progression, and he takes pride in the fact that he has paved the way for other entrepreneurs. Flutterwave’s triumph has been a source of inspiration for many in Africa and around the globe, and the company has received recognition for its influence and impact. Agboola’s principal aim is not merely to establish a prosperous enterprise, but to inspire others, improve the lives of Africans, and expose the world to the potential of the exceptional people on the continent.