That narrative, however, is gradually changing, and one of the entrepreneurs at the centre of that transformation is Iyinoluwa Aboyeji, the Nigerian technology founder who co-founded Andela and Flutterwave — two companies that have both grown into billion-dollar ventures.
In a recent interview on School of the Hard Knocks, Aboyeji reflected on the experiences, values and strategies that shaped his entrepreneurial journey. He shared lessons on leadership, building teams, creating value and the mindset required for young Nigerians hoping to build successful businesses.
A dream inspired by technology’s biggest success stories
Aboyeji revealed that his journey into entrepreneurship was partly inspired by the story of Mark Zuckerberg and the rise of Facebook, after watching The Social Network, a film based on Zuckerberg’s early years.
“The really funny thing is that I watched The Social Network and, full circle, Mark Zuckerberg ended up investing in my first billion-dollar company,” he said.
That company was Andela, a technology talent firm created to identify, train and connect African software developers with global companies.
What began as inspiration from a movie eventually became a real-life achievement, proving that innovative ideas emerging from Lagos could attract international recognition and major global investment.
Building billion-dollar companies through strong systems
While many people often associate successful startups with funding, luck or the brilliance of a single founder, Aboyeji believes the foundation of a great company lies somewhere else.
“It’s all about systems,” he said.
He explained that sustainable businesses are built when talented individuals come together and operate within structures that allow them to succeed.
Recalling advice from one of his billionaire mentors, Aboyeji said: “A billion-dollar company is just a bunch of people who could have individually built $10 million businesses but decided to come together and build one business.”
For him, the strength of an organisation is not determined only by the vision of its founder but by the quality of people, processes and systems supporting that vision.
The power of teamwork in business success
Aboyeji repeatedly highlighted teamwork as one of the biggest drivers behind the growth of Andela and Flutterwave.
“It’s the team,” he said.
According to him, entrepreneurs who want to build lasting companies must learn how to attract capable people, create a shared purpose and empower teams to deliver results.
Reflecting on the interview, ARISE News co-host Dr. Reuben Abati also emphasised the importance of collaboration.
“He made a point about the team. He said it’s about the team. Teamwork, teamwork. If you come together and you have a good team, you will produce results,” Abati said.
He noted that many people often misunderstand business success by focusing only on the founder’s intelligence or creativity.
“Oftentimes, many Nigerians are delusional. They think you are such a genius that’s why you are progressing, but businesses are products of the quality of people that make that business,” he added.
Creating value before seeking rewards
Beyond building teams, Aboyeji encouraged entrepreneurs to approach relationships and business with a mindset of service.
“The biggest advice for networking is to serve people. ‘How can I help?’ Those four words are the most powerful words in the world,” he said.
He warned against building connections purely for personal gain, stressing that genuine value creation often leads to long-term opportunities.
“Don’t be a taker. Give, give, give, give, give, and eventually, it will be given unto you.”
He added: “The more money you make other people to make, the more money you’re going to make yourself.”
According to Aboyeji, entrepreneurs who focus on solving problems and helping others create the foundation for sustainable success.
The role of mentorship and opportunity
Aboyeji also credited mentorship as an important part of his growth as an entrepreneur.
He explained that many of the lessons that shaped his leadership style came from conversations with experienced business leaders who challenged him to think differently about building organisations and managing growth.
Abati, while reflecting on the interview, pointed to the importance of mentorship, timing and opportunity.
“First, he said, ‘Look at God.’ There is a God factor because sometimes you just find favour. It’s an opportunity,” Abati said.
He added that Aboyeji’s relationships with global investors, including Zuckerberg, showed how strategic partnerships and support systems can influence the growth of ambitious businesses.
Success without losing simplicity
Despite helping to create companies valued at billions of dollars, Aboyeji has maintained a reputation for humility and simplicity.
ARISE News presenter Rufai Oseni described him as one of Nigeria’s most inspiring entrepreneurs, recalling an early interview with him during Andela’s formative years.
“I remember when I first interviewed him around 2012 or 2013. He came to tell the story of Andela, and shortly afterwards the company received that major investment from Mark Zuckerberg,” Oseni said.
He described Aboyeji as an entrepreneur who continues to challenge expectations.
“He’s a double unicorn. These two companies have crossed the billion-dollar mark, and he keeps pushing the envelope. He’s a great inspiration to young people.”
Another ARISE News presenter, Vimbai Mutinhiri-Ekpenyong, highlighted Aboyeji’s modest lifestyle as another important lesson.
“He’s one of the simplest, most understated people you’ll meet. You won’t see him coming and think there are billions around him,” she said.
She explained that many successful entrepreneurs prioritise building and creating impact over displaying wealth.
“People who are committed to building are ready to make sacrifices. They don’t spend too much time on unnecessary luxuries; they focus on doing the work.”
Changing the global perception of African innovation
One of the most significant reflections from the interview was Aboyeji’s perspective on how attitudes towards African entrepreneurship have changed.
“There was a time people just didn’t believe billion-dollar companies could come from this part of the world. But look at God. Build, build, build,” he said.
His journey demonstrates that companies built in Nigeria and across Africa can compete internationally when they are driven by innovation, strong leadership and a commitment to solving real problems.
From creating technology platforms to building global teams, Aboyeji’s story represents a shift in how African entrepreneurship is viewed around the world.
His message to young founders remains straightforward: “Build, build, build.”