In a recent LinkedIn post that has resonated across the African tech community, Iyinoluwa Aboyeji, a prominent African entrepreneur and investor, has issued a critique of the continent’s current startup culture.
He warns that a pervasive focus on “fake problems” and the influence of “ecosystem mercenaries” are actively stifling genuine innovation and diverting crucial resources from pressing societal needs.
Aboyeji’s candid address cuts to the heart of what he perceives as a fundamental flaw in the African tech landscape.
He argues that the ecosystem is not suffering from a deficit of talent, but rather a profound “lack of seriousness.” His deepest fear, he revealed, is not the loss of capital, but the backing of the wrong problems.
The Rise of the ‘Ecosystem Mercenary’
Aboyeji’s critique was particularly pointed towards a new wave of investors whom he described as “short-sighted” and “ecosystem mercenaries.”
He accused these individuals of crowning themselves judges of what is “venture-backable” while remaining fundamentally removed from the actual challenges facing everyday Africans.
“Ironically, these are often the people furthest removed from the actual problems and the people who suffer them,” Aboyeji remarked in his post.
He suggested that this disconnect has led to a misallocation of resources, where founders are incentivised to build products that the market rewards rather than what society urgently requires.
“Meanwhile, the real problems are staring us in the face every single day – the kind we casually walk past and mutter, “Government should fix this,” even though we all know government doesn’t have the capacity, speed, or scale to do so.”
Solving ‘Fake Problems’ Efficiently
The consequence of this trend, according to Aboyeji, is a proliferation of redundant technology. He noted with frustration that many talented builders are abandoning “the hard stuff”—such as power, connectivity, housing, and healthcare to develop “the 47th fintech app.”
“That’s how we end up solving fake problems very efficiently,” he warned. “We need to reclaim startup investing from people who treat it like a quick flip and remind ourselves why technology exists in the first place.”
Aboyeji was clear in his distinction between a genuine business and a speculative venture.
“Tech is a tool to solve real problems. Yes, money will follow — but if money is the goal instead of the outcome, what you’re building isn’t a business. It’s a Ponzi with better branding.”
The entrepreneur called for a reclamation of startup investing, urging the community to remember why technology exists in the first place.
“We need to reclaim startup investing from people who treat it like a quick flip and remind ourselves why technology exists in the first place.”
For him, technology is unequivocally a tool to solve real problems. He challenged founders to stop looking to the government for solutions that the state lacks the “capacity, speed, or scale” to provide, and instead to view these gaps as massive business opportunities.
About Iyinoluwa Aboyeji
Iyinoluwa Aboyeji’s professional journey reflects a deep commitment to fostering talent and addressing critical needs across Africa. He serves as Co-Founder and Executive Chairman of Learn2Earn NG, an organisation dedicated to identifying and nurturing the next generation of African tech talents.
Concurrently, as Executive Chairman of TN Macaulay, he focuses on building AI-ready, high-quality, affordable talent at scale. His strategic influence extends to various sectors, including his role as a Board Member at Medplus Pharmacy Limited.
Furthermore, he is a Founding Partner of Future Africa. He also acts as a Founding Investor for Itana by Talent City. He also served as the Cofounder & Director of Andela from 2014 to 2016, and the Co-founder & Managing Director of Flutterwave from 2016 to 2018.
As the African tech ecosystem matures, industry leaders say Aboyeji’s intervention serves as a timely reminder that the true value of innovation lies not in the elegance of the code or the size of the seed round, but in the tangible impact it has on the lives of millions.
Talking Points
It is encouraging to see Iyinoluwa Aboyeji identify such a strong emphasis on the potential for African technology to address fundamental societal needs, moving beyond simple digital tools to create lasting structural change.
This vision highlights a significant opportunity for founders to focus on essential sectors like energy, connectivity, and logistics, where innovative business models can bridge the gaps that traditional systems cannot currently fill.
At Techparley, we believe that the next phase of growth for the ecosystem lies in supporting builders who are dedicated to long-term value creation and solving the continent’s most meaningful challenges.
By aligning investment with real-world impact, the tech community can ensure that capital is directed toward ventures that not only scale but also improve the daily lives of millions of people.
There is a growing momentum behind the idea that the most successful businesses of the future will be those that view Africa’s biggest hurdles as their greatest commercial and social opportunities.
As this mindset takes hold, we see a bright future where the collaboration between visionary investors and resilient founders transforms the African economy into a global leader in impactful and sustainable innovation.
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