Why Africa’s Next Tech Unicorn Will Be Built on Customer Data, Not Assumptions

By Francisca Anuforo

Africa’s next generation of billion-dollar technology companies will not be built by simply copying Silicon Valley models. Instead, they will emerge from founders who deeply understand local realities, leverage customer data and use technology to solve everyday problems.

That was the consensus at the latest UBA Business Series, where investors, entrepreneurs and technology leaders examined how customer feedback, artificial intelligence (AI) and data analytics are redefining innovation across Africa.

Themed “Building for African Realities: Turning Consumer Feedback into Technology-Driven Solutions,” the event featured Ashim Egunjobi, Managing Partner at Octerra Capital; Femi Aluko, Co-founder and CEO of Chowdeck; and creative entrepreneur, investor and technology advocate M.I. Abaga. The discussion was moderated by technology leader and innovation strategist Adaora Mbelu.

Opening the event, Mrs. Uzomaka Onyeka, UBA Group Head, said meaningful innovation starts with understanding people rather than making assumptions about them.

According to her, UBA’s Customer First philosophy places customer feedback at the centre of innovation, enabling organisations to develop solutions that are relevant, inclusive, scalable and transformative.

“The most effective solutions are built not on assumptions but on listening to our customers and responding to their needs,” she said.

Africa isn’t one market

One of the strongest messages from the discussion was that Africa cannot be approached as a single technology market.

Egunjobi said founders often underestimate how different consumer behaviour is across African countries.

A product that succeeds in Nigeria may require significant adjustments before gaining traction in Kenya, Botswana or Rwanda.

She explained that venture capital firms increasingly prioritise founders who demonstrate adaptability, resilience and a deep understanding of customer behaviour over those with polished presentations.

“Unless customers are willing to pay for what you’ve built, you don’t really have a business,” she said.

She also cautioned founders against becoming emotionally attached to their solutions instead of remaining focused on solving customer problems.

Data became Chowdeck’s competitive advantage

For Chowdeck, customer behaviour—not assumptions—has shaped product development.

Aluko explained that analysing user behaviour revealed predictable shifts in spending patterns throughout the month.

Customers typically ordered premium restaurant meals immediately after payday before gradually switching to groceries and local market purchases as the month progressed.

Those insights encouraged the company to expand beyond food delivery into grocery shopping and eventually launch dark stores that significantly reduced delivery times.

“We don’t build products because they’re trending elsewhere. We build them because our data tells us customers need them,” Aluko said.

He argued that businesses should rely more on observed behaviour than verbal feedback.

“If you’re not using your data deeply enough, you’ll build shallow products.”

He also revealed that insights gathered from customer transactions later inspired additional services, including package delivery and utility bill payments.

AI is changing the rules for creators

Artificial intelligence featured prominently throughout the conversation.

M.I. Abaga described AI as one of the biggest technological disruptions the creative industry has experienced.

Rather than replacing creators, he believes AI will amplify the abilities of those who already possess strong creative skills.

“The creators who are truly exceptional today can become even more exceptional with AI,” he said.

According to him, AI is already simplifying music production, video editing, sound engineering, colour grading, proposal writing and other repetitive tasks that traditionally consume valuable creative time.

He challenged African creators to move beyond content creation and position themselves as global suppliers of AI-assisted creative services such as animation, post-production, subtitling, script editing and sound design.

Financing innovation in a high-interest economy

With Nigeria’s interest rates remaining elevated, Egunjobi acknowledged that financing continues to be one of the biggest obstacles facing startups.

She advised founders to use expensive capital strategically to prove their business model before seeking lower-cost financing from development finance institutions and other long-term investors.

Understanding margins, unit economics and capital structure, she said, is just as important as building innovative technology.

The creator economy is becoming digital infrastructure

M.I. Abaga also argued that creators are no longer simply influencers but increasingly function as independent media platforms.

This shift, he said, presents significant opportunities for businesses to reach highly targeted audiences while creating demand for new financial, technological and business infrastructure supporting creators.

As digital platforms continue to decentralise audience attention, businesses that effectively combine creator partnerships with customer data will enjoy stronger engagement and improved marketing efficiency.

Innovation begins with listening

Closing the event, UBA’s Head of Digital Banking, Olukayode Olubiyi, identified innovation, creativity and data as the three defining themes of the discussions.

He noted that while AI is transforming industries, its value ultimately depends on how effectively people combine technology with human expertise and customer insight.

The discussions reinforced a broader message for Africa’s technology ecosystem: the continent’s next wave of innovation will not come from building technology for technology’s sake. It will come from founders who understand local realities, interpret customer data correctly and create products that solve real problems at scale.

For startups navigating Africa’s rapidly evolving digital economy, customer insight is no longer just a competitive advantage—it is becoming the foundation of innovation itself.