At ACBN, we stand on the African principle Ubuntu “I am because we are.” Our mission is to mobilize ecosystems through authentic conversations with thought leaders shaping the future of business.
We recently sat down with Foster Akugri—Head of Innovation at Old Mutual Limited in Ghana and Founder of the Hack Lab Foundation—to explore how AI for Black entrepreneurs can work together to unlock productivity, scale businesses, and build sustainable impact. His insights offer a roadmap for every business owner ready to thrive in a rapidly changing world.
1. Harnessing AI to Multiply Productivity
AI has shifted from theory to reality. From tools like ChatGPT to design platforms and automation systems, AI is redefining what’s possible.
What business owners can take away:
Cut turnaround time: AI streamlines research, drafting, and analysis, letting you deliver results in hours instead of days.
Expand your capacity: Free up time from repetitive tasks and focus on people, strategy, and relationships.
Leverage creative tools: Tap into generative AI for posters, flyers, animations, and website design without needing large budgets.
Key Insight: AI isn’t about replacing people—it’s about giving entrepreneurs the breathing room to innovate and lead.
2. AI and the Future of Work
AI is flattening barriers to entry, making space for non-technical founders to launch tech-enabled ventures.
Reduced barriers: Anyone with vision can now use AI platforms to build prototypes or execute technical tasks.
Rise of the generalist: Tomorrow’s professionals will be able to wear many hats, creating new opportunities for entrepreneurs.
The caveat: AI provides knowledge, but not wisdom. Human experience and judgment remain irreplaceable.
3. Building Businesses That Last
Foster’s experience supporting SMEs highlights one recurring issue: too many businesses lack proper systems and governance.
Lessons for entrepreneurs:
Great ideas need structure—set up systems that can run without you.
Adopt institutional discipline—borrow lessons from banks and large firms to build processes that ensure sustainability.
4. Innovation Through Anticipation and Community
The Hack Lab Foundation is a model for forward-thinking entrepreneurship. By training communities on emerging skills years before they’re needed, they help talent leapfrog industries.
For ACBN business owners, this means:
Stay ahead of global trends like blockchain or AI.
Use competitions and collaborative challenges to inspire innovation within your teams.
5. Lead with Purpose, Become a Change Agent
Foster’s closing message is clear: entrepreneurs must prioritize purpose and community impact.
Put stakeholders first: Impact investors seek businesses driven by mission, not just profit.
Shift perspective: Where others see problems, train yourself to see opportunities.
Be the change agent: Leadership starts with self-discipline—your mindset sets the tone for your family, community, and business.
Closing Call
AI is one of the greatest tools of our generation, and for Black entrepreneurs, it’s an opportunity to level the playing field. The key is to embrace it, prepare your business with strong systems, and lead with purpose.
Watch the full interview with Foster Akugri here: Watch on YouTube
Learn about our ACBN Membership so we can work with you to build your business: ACBN Membership
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