Business magnate Obi Iyiegbu, popularly known as Obi Cubana, has identified lack of collaboration and an obsession with sole ownership as major reasons many African entrepreneurs fail to thrive in business.

Speaking in a viral video shared on Saturday, the billionaire businessman contrasted the African approach to business with that of Western entrepreneurs, emphasizing that Africans often prefer to operate alone rather than embrace partnerships.

According to him, this “I must own it all” mentality hinders growth and prevents the execution of large-scale projects that require teamwork and shared vision.

“Why we Africans don’t go far in business is because we want to own it ourselves. Nobody wants to share,” he said.
“You see, oyibo people might have 20 owners who don’t even know each other, yet they come together to make complex projects look simple.”

Cubana further noted that many African businesses collapse after the founder’s death because they are built around personal control rather than structure and succession planning.

“Our problem is that everyone wants to have ‘Obi Cubana and Sons Limited,’ whether or not the sons are interested in the business. That’s why once the owner dies or becomes incapacitated, the business also dies,” he added.

Cubana’s remarks have sparked discussions online about the need for stronger partnership culture, business continuity planning, and generational wealth building across Africa.

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