POD: From Ethiopia to Tokyo, Bernard Laurendeau explains why Africa needs strategic global partnerships over patient capital
Episode overview:
Bernard Laurendeau has a mission: to stop African business leaders from asking for "patient capital." The Ethiopian-French management consultant, now operating from Tokyo, believes this standard pitch fundamentally misunderstands how global investment works, and fails African markets.
It's a contrarian stance from someone who's spent 15 years advising Fortune 50 clients and building institutions across three continents. After co-founding Arifpay, Ethiopia's first licensed Payment System Operator, and serving as senior advisor to Ethiopia's jobs creation commission, Laurendeau has repositioned himself in Japan's corporate heartland with Laurendeau & Associates and Enkopa Lab.
From his Tokyo base, Laurendeau delivers what he calls "execution horsepower" to both African governments and Japanese corporations seeking African market entry. His client portfolio spans Google and Cisco to UAE's Ministry of Finance, applying strategic frameworks honed at BNP Paribas to emerging market challenges.
Andile Masuku probes Laurendeau on the realities of being Africa's advocate in corporate Japan and his conviction that African leaders are more "lonely" and isolated than corrupt, a perspective shaped by his years of what he terms "Gov-preneurship."
Key insights:
- On financial sovereignty: Alongside supporting fintech innovation, Laurendeau advocates fiercely for African countries maintaining control over their financial services infrastructure. His work co-founding Arifpay reflects the conviction that payments and banking form an economy's backbone.
- On Japanese business culture: Japanese organisations bring uncompromising quality standards to everything—"there's no such thing as downgrading." This limits their market share compared to Chinese competitors offering multiple price points, but creates superior knowledge transfer opportunities for African partners.
- On data-driven decisions: Investors don't want to "think long-term"—they want confidence in their decisions. Laurendeau's experience with big data analytics in Silicon Valley informs his approach to providing real-time, actionable intelligence rather than outdated World Bank reports.
- On innovation vs infrastructure: African entrepreneurs risk becoming "lazy" by chasing trendy technologies while neglecting "boring" fundamentals
- On regulatory capture: Even respected institutions like Ethiopian Airlines can "violate rules, specifically on payments" when regulators lack capacity or clear enforcement prioritisation.
- On institutional building: African countries need people willing to do "Gov-preneurship": embedding with governments to build policies, institutions, and strategic frameworks. Most leaders are "lonely" and welcome diaspora expertise, contrary to corruption narratives.
- On competitive dynamics: The Safaricom vs incumbent banking lobby in Ethiopia illustrated how innovation and sovereignty can align. Ethiopian policies successfully maintained technology transfer and knowledge building whilst enabling competition.
- On execution over ideology: Management consulting in emerging markets requires output orientation, not retainer relationships. Clients want expert advice immediately, not consultant armies producing fancy acronyms and quadrant analyses.
Notable moments:
- Why Laurendeau switched from mechanical and aerospace engineering (ENSTA France, Georgia Tech) to management consulting after realising security clearance barriers would limit his US career prospects
- His observation that at Africa-focused investment conferences in Japan, "people were talking about Africa...with no Africans in the room"
- Arifpay achieving profitability and dividend distribution, proving African fintech could build sustainable, high-performing teams rapidly
- His frank assessment that young Africans show more "thirst" for knowledge and change than their counterparts in developed economies, despite having fewer resources
The contrarian take:
Laurendeau's most provocative insight challenges the "patient capital" narrative that dominates African investment discourse. Rather than asking investors to adopt longer time horizons, he argues African markets should provide the confidence and data quality that enables rapid decision-making.
His positioning in Tokyo reflects this philosophy: instead of waiting for Japanese companies to discover Africa, he's bringing African market intelligence directly to their boardrooms with the same quality standards they expect domestically.
"Investors don't want to think long term. They have options. So if you tell them, 'Oh, you need to think long term,' that's not the right type of answer."