Business tycoon, Obi Iyiegbu, popularly known as Obi Cubana, has shared his thoughts on why many African entrepreneurs fail to achieve long-term success in business.
In a viral video posted on Saturday, the billionaire businessman explained that the major obstacle to business growth on the continent is the lack of collaboration and the obsession with total ownership.
According to him, while entrepreneurs in Western countries understand the value of partnerships and shared ownership, many Africans insist on running their ventures alone.
“Why we Africans don’t go far in business is because we want to own it ourselves. Nobody wants to share,” he said. “You see, but oyibo people, I bet you there might be 20 owners who don’t even know themselves and they come together to make complex projects look very simple.”
Cubana criticized the “I must own it all” mentality, saying it limits expansion and prevents businesses from outliving their founders. He added that the desire for full control often kills enterprises once the owner is no longer active.
“But our problem is that I want to have Obi Cubana and Sons Limited, whether your sons are interested in the business you do or not,” he explained. “That’s why the moment they die, the business dies. The moment they are incapacitated, the business dies because there’s no second or third generation to carry on.”
