In an era where technology underpins nearly every business model, industry experts have emphasised the importance of understanding policy frameworks, designing for scale, and leveraging tech tools for sustainable business growth in the country.
Experts stated this while speaking at the “Scaling a Tech-Enabled Business – A Path to Profit” session, hosted by the Lagos Business School, where they offered insights into how startup founders can navigate the complex journey of scaling.
Mobolaji Ajayi, founder of Pure Life Pharmacy, shared how technology has transformed operations at her company, which runs a hybrid of physical and digital pharmaceutical services.
“Technology is the backbone of our operations. It helps us make our costs more predictable and has enabled faster service delivery,” Ajayi stated. “You can’t do business in 2025 without technology. It’s no longer a nice-to-have, but it’s a must-have.”
According to her, the deployment of Electronic Medical Records (EMRs), Enterprise Resource Planning (ERP) systems, and digital supply chain management tools has reduced turnaround times from three days to just three hours.
Ajayi also highlighted how tools like digital trackers are being used to improve customer engagement and internal efficiency, adding that “technology can serve you if you know how to use it.”
Oswald Guobadia, managing partner at DigitA, emphasised the importance of understanding the regulatory environment surrounding any tech startup.
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“Most founders develop great ideas and build their products, but progress is often halted by regulatory roadblocks,” he stated, while adding that startups need to design with policy and regulation in mind.
Guobadia stressed that while startups are expected to disrupt and innovate, policymakers are equally compelled to react by regulating or banning such innovations. “It is crucial to study the policy landscape and integrate those insights into your business model,” he said.
On the broader challenge of scaling in Africa, he added that startups on the continent face unique hurdles. “Scaling defines a startup, but in our context, limited access to funding and an unpredictable policy environment make scaling harder to achieve,” he said.
Olu Akanmu, Academic Director of the LBS Tech-Leap Initiative and former CEO of OPay Nigeria, stated that the most important transition for any startup is the shift from product development to building scalable systems.
“A good business must understand how it makes money and should have the metrics to prove engagement and revenue,” he noted.
He stated that having a differentiated product is key to breaking through customer inertia. “A startup is not the only player in the market. To grow, you must give customers a reason to switch from the existing platforms—something that challenges current behaviour and meets a real need.
“Without scale, performance metrics don’t matter. The first focus should be on creating a product that enough people want and can access,” Akanmu said, urging startups to build scale before obsessing over performance.
