Experts at Africa Startup Festival have positioned that for African startups to scale sustainably, storytelling and trust must become core building blocks and not afterthoughts.
During a panel session, the ecosystem leaders, speakers emphasised how narrative, transparency, and close-knit collaboration can make or break early-stage companies.
While speaking about storytelling as a growth engine, Chidi Iwuchukwu, Executive Director at Rand Merchant Bank Nigeria, highlighted how compelling narratives drive early investor confidence.
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He cited the evolution of CBOX, now Octavia, where he explained how the company’s simple value proposition grew into an IPO-worthy business.
“They started from the basic ‘borrow airtime when your recharge ends’ model,” he said. “We nurtured them from founders to scalable operators. When the story becomes clear and the opportunity crystallizes, it becomes profitable for us to invest.”
Iwuchukwu stressed that storytelling isn’t merely performance. “It must reflect realistic challenges and how you’ll execute. The opportunity is huge, but founders need to show they understand the work ahead.”
Yvonne Johnson, co-founder and CEO of Indicina, warned against inflated projections disguised as ‘vision’
“Yes, ambition matters but projections must be grounded. Storytelling isn’t fantasy, it’s clarity around what you need to achieve real revenue,” she said.
While speaking about trust as the missing infrastructure, panelists agreed that trust remains one of the greatest hurdles between founders and investors.
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Nobuhiko Ichimiya, managing director of AAIC Nigeria, stated the importance of transparency. “Founders and investors must have very fluid, open communication. Some startups don’t realize when they’re not being transparent. Dialogue is non-negotiable.”
Ichimiya also revealed the Japanese government’s new $15 million grant-backed partnership with the Nigerian Sovereign Investment Authority (NSIA), aimed at creating an onshore Nigerian startup investment fund, one he hopes will unlock more domestic corporate participation.
Yewande Adewusi, COO of Alitheia Capital said trust is built in the trenches.
“You can’t be a board-meeting-only investor,” she said. “If I’m not going to the market with you, taking off my heels, wearing sneakers, and meeting the customers then I don’t understand your business.”
Adewusi described Alitheia’s approach as “carrying the water without boundaries,” while emphasising real partnership over transactional oversight.
“Our goal isn’t to push founders from round to round, we want multi-generational businesses. If we say we want more Dangotes, then we must behave like investors building Dangote-level companies.”
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“We’re not just investing in companies,” Adewusi concluded. “We’re co-building legacies.”
Panelists agreed that Africa’s startup ecosystem must shift from a numbers-only mindset to a relationship-driven one.
Experts noted that through grounded storytelling, transparent communication, or hands-on investor involvement, sustainable African giants will emerge when founders and funders pursue a shared destiny.
