During the Nigeria Economic Summit, Kola Aina, Founding Partner at Ventures Platform, shared insights into how entrepreneurs are filling critical gaps on the African continent through innovation.
As a venture capitalist, Kola identifies and invests in early-stage technology companies focused on the disruption of financial services, healthcare, education, agriculture, and enterprise software. He has built a strong investment portfolio of best-in-class, high-growth companies. Current investments include category-defining companies including Mono, PiggyVest, Reliance HMO, and Paystack, which was acquired by Stripe in 2020.
Could you kindly introduce yourself?
Kola Aina: My name is Kola Aina, Founding Partner, Ventures Platform
Can you tell us more about your business?
Kola Aina: Ventures Platform is an early-stage discovery fund for Africa that invests in mission-driven founders who are building capital-efficient platforms that democratise prosperity, plug infrastructural gaps, connect underrepresented communities, solve for non-consumption, and improve livelihoods across the continent. Our portfolio companies include Paystack (exited) PiggyVest, MDaaS, Kudi, Remedial Health Shekel, and other category leaders like Seamless HR.
What role do you see entrepreneurship playing in the Nigerian and pan-African context?
Kola Aina: Entrepreneurs in Africa are filling critical gaps left by underinvestment by governments. By building market-creating innovations, they are creating new markets and avenues for consumption by millions; they are building rails for new industries to emerge and are democratising prosperity via jobs and the new markets they enable. In Africa, entrepreneurs are literally unlocking opportunity.
What do you consider as the top 3 hot topics for the African continent?
Kola Aina: Currently, I see the following topics as key for the African continent:
1. Improving the role of government and regulators in enabling the private sector.
2. Youth unemployment, under-education, and the population boom.
3. The impact of AI and emerging technologies on the continent.
Which topics and themes related to the African continent would you like to see more prominently featured on global platforms?
Kola: We need more positive stories about what is already happening in startups, entrepreneurship, film, art, music, and creativity. In addition to this, the commercial opportunity in Africa needs to be highlighted more, rather than focusing on impact work or ‘doing of favours’.
Credit: Africa Collective
