Bolaji Balogun, the pioneering investment banker and Chief Executive Officer of Chapel Hill Denham, has shared powerful insights on how entrepreneurs can build sustainable and scalable businesses in Nigeria and across Africa.
Speaking at the Worldwide Alumni Celebration of the London Business School (LBS), Nigeria Chapter, held recently in Lagos under the theme “Africa’s Builders: What it Takes to Start, Grow, and Scale,” Balogun drew from over three decades of investment banking and entrepreneurial leadership to outline principles that define lasting success in Africa’s evolving business landscape.
As one of Nigeria’s most respected financiers, Balogun has been instrumental in shaping the country’s capital markets, advising and investing in ventures that have grown from promising startups to major African enterprises. Drawing from this wealth of experience, he emphasized that Africa’s demographic dividend, its fast-growing young population, represents an unprecedented opportunity to drive inclusive economic growth through entrepreneurship.
“You must have a big vision and be clear about the problems you are solving when starting a business,” Balogun said. “Beyond vision, you need tremendous discipline around consistent execution, financial prudence, and operational rigour. And above all, courage.”
He advised aspiring founders to gain practical work experience before launching out, stressing that hands-on learning in structured environments helps entrepreneurs understand business fundamentals such as market structure, margins, customer behaviour, and brand building.
“Experience teaches you how businesses truly work. It’s how you learn structure, how markets move, and how to manage people and capital effectively,” he noted.
On growing a business, Balogun highlighted the central role of people, insisting that successful entrepreneurs must be able to identify, attract, and retain top talent over the long term. He also underscored the value of what he called constructive aggression, a mindset that drives decision-making, adaptability, and resilience.
“Aggression is essential,” he asserted. “It’s about making decisions quickly, processing large amounts of information clearly, and pivoting fast when opportunities arise. Every successful African entrepreneur, from Dangote to Aig-Imoukhuede to the late Herbert Wigwe, shares this drive.”
As businesses evolve and begin to scale, Balogun emphasized the importance of deepening corporate governance, sustainability, and community impact. He urged entrepreneurs to focus on strengthening governance frameworks, leveraging the capital market, investing in employee development, reinvesting profits for growth, and maintaining a long-term orientation.
“Scaling requires structure, sustainability, and the discipline to keep building excellence,” he said. “At that point, your impact must extend beyond shareholders to the wider community.”
The event also featured a high-level panel discussion exploring practical insights on building regional and continental businesses in Africa. Panelists included Adedotun Sulaiman, Chairman, Parthian Partners Ltd; Roosevelt Ogbonna, Group Managing Director, Access Bank; Kathleen O’Connor, Clinical Professor at LBS; and Olumide Soyombo, Co-founder, Bluechip Technologies and Voltron Capital. The session was moderated by Rolake Akinkugbe-Filani, CEO, EnergyInc Advisors.
