How did the Nigerian entrepreneurs in Lagos get their start, and what do they say about building wealth in Africa?

The Lagos entrepreneurs in these interviews started in very different ways. The founder of Andela and Flutterwave said he got the idea from watching The Social Network in college, reasoning that Mark Zuckerberg was his age when he built his business at 19, and he decided to become an entrepreneur. A Lagos real estate developer said he got into property by accident, through agency work that led to his first sale and then to developing properties himself. Tony Elumelu, who started as a banker, credits his rise to hard work, discipline, and deferred consumption, and says he went without a car for a long time to acquire property instead.

On building wealth in Africa, the founder of Andela and Flutterwave argued that Africa has the largest share of young people under 30, and that wealth comes from meeting their needs. He contrasted Nigeria with America: in Nigeria you only make money by making other people money, and sustainable wealth comes from helping others. Aliko Dangote said Africa was being supplied with imported goods and exporting its jobs, so he set out to produce locally and industrialize the continent. The Lagos private equity investor argued that the informal economy is a trillion-dollar opportunity, largely run by women, that is being overlooked.