In a rapidly evolving African startup ecosystem where flashy fundraising announcements are no longer enough to satisfy cautious investors, the conversation has shifted toward a more grounded reality: building products that solve real consumer pain points.

This was the core message at the latest quarterly UBA Business Series, themed: “Building for Africa’s Realities: Turning Consumer Feedback into Technology-Driven Solutions.”

Held yesterday in Lagos and broadcast to thousands of virtual attendees, the event gathered top innovators, founders, and industry executives to discuss how technology could translate customer feedback into scalable, sustainable business
models.

Largely, it was noted that technology in Nigeria and indeed, Africa would only succeed when it adapted to how consumers actually live and spend, not how founders expect them to behave. Whether through cross-border payment bots or localised logistics software, survival in the modern market belongs to the builders who listen.

Kicking off the event, Head, Remittances, UBA, Uzoamaka Oyeka, reminded that the bank’s core operating principle remains Customer First. She highlighted that impactful technology begins with a deep, localised understanding of what people actually need.

According to her, consumer insight is the bedrock of transformative innovation.

“Africa’s greatest opportunities for innovation are always based on the realities of its people. The most effective solutions are built not on assumptions, but on addressing and listening to our customers and providing responses to their needs,” she stated.

Speaking during the panel session, Managing Partner, Octerra Capital, Ashim Egunjobi, traditional customer relationship models that rely purely on pricing strategies are no longer sufficient. Modern consumers, particularly digital natives, demand deeper, value-driven relationships.

According to her, historically, businesses struggled to measure the impact of loyalty campaigns, focusing on “what we gave away” rather than “what behavior we created.”

Further at the panel session, moderated by media entrepreneur Adaora Mbelu, the co-founder and CEO of Chowdeck, the prominent on-demand food delivery startup, Femi Aluko shared candid reflections on the mistakes his team made early on and how listening to customer data completely pivoted their business strategy.

Aluko explained that one of Chowdeck’s early misconceptions was treating the entire Nigerian delivery market as a single, homogenous entity.

On his part, acclaimed rapper and entrepreneur, M.I. Abaga, expanded the conversation beyond traditional fintech and logistics. He focused heavily on the creator economy, showing how community building and real-time feedback loops are essential for tech-enabled platforms targeting African youth.