Business mogul, Obi Iyiegbu, popularly known as Obi Cubana, has revealed the reason many African entrepreneurs do not thrive in business.
Cubana attributed it to a lack of collaboration and an obsession with sole ownership.
The billionaire businessman, who stated this in a video that went viral on Saturday, spoke on the difference between African and Western business mindsets.
According to him, most Africans prefer to operate alone, while their foreign counterparts understand the power of partnerships and shared ownership.
He further explained “I must own it all” mentality limits growth and makes it difficult to execute large-scale projects, stressing that individuals often prioritise control over collective progress.
“Why we Africans don’t go far in business is because we want to own it ourselves. Nobody wants to share. You see, But oyibo people, I bet you there might be 20 owners who don’t even know themselves and they come together to make complex project look very simple
“But our problem is that I want to have Obi Cubana and Sons Limited. whether your sons are interested in the business you do or not and that’s why the moment they die, the business dies.
“The moment they are incapacitated, the business dies because there’s no second or third generation to carry on,” he said.
