An Exclusive Q&A with Folajomi Adegbulugbe, Executive Director at The Hive Incubator

Folajomi Adegbulugbe is an accomplished entrepreneur, business leader, and investor with a passion for driving innovation and growth across diverse sectors, including agriculture, energy, and technology. As the Executive Director of The Hive Incubator and CEO of several successful ventures, Folajomi has been at the forefront of supporting startups and businesses that are shaping Africa’s future.

His vast experience spans founding and scaling companies, from energy distribution to venture capital, and more recently, Square Farms Africa, his entry into the world of agriculture, with a particular focus on finance and infrastructure development in the sector. Through this venture, he is working to bridge gaps in livestock farming, food security, and sustainable agricultural practices.

In this exclusive interview, Folajomi shares his insights on why agriculture and food security are crucial for Africa’s growth, how innovation is reshaping the sector, and the role that startups play in solving some of the continent’s most pressing challenges.

Folajomi, you’ve been a strong advocate for innovation across various sectors. Why do you believe agriculture and food security are critical for Africa’s growth?

Agriculture is the backbone of Africa’s economy, yet it’s not where it should be. With a growing population, we must modernize farming to ensure food security, create jobs, and drive economic growth. Innovation is key—new technologies can boost yields, improve distribution, and tackle climate challenges. Food security is at the heart of our development, for any meaningful impact people need to be assured about their food and its prices. I am taking this seriously and contributing my quota through Square Farms.

You’re involved in several businesses that impact the energy and logistics sectors. How do you see these industries intersecting with agriculture and food security?

Folajomi Adegbulugbe: The energy and logistics sectors go hand in hand with agriculture. To process and preserve food effectively, reliable energy is essential, ensuring food reaches markets safely and quickly. At Gasify, we’re focused on providing affordable LPG and natural gas solutions that help power agricultural systems, reduce food waste, and improve efficiency. Logistics also play a huge role in getting food from farms to tables, and as this sector improves, it helps cut down on food waste and unlocks the full potential of Africa’s agriculture. Technology in both energy and logistics will be key to making agriculture more sustainable and addressing food security challenges.

As the co-founder of The Hive Incubator, what role do startups and innovation play in Africa’s agricultural development?

Folajomi Adegbulugbe: Startups and innovation are key to transforming Africa’s agriculture. At The Hive Incubator, we support early-stage businesses leveraging technology to improve farming efficiency, market access, and food production. From data-driven solutions to smart agricultural tools, these innovations help overcome traditional challenges. Startups and innovation will not only shape what we eat but how and when we eat it. Technology vis-a-vis innovation will help with food loss in particular whilst ensuring efficient logistics that allows farm to table service. As co-founder I am particularly excited about ventures in agriculture and how they enhance our cohort of agricultural businesses. 

You’ve experienced success in various industries. What advice would you give to young entrepreneurs looking to make an impact in agriculture and food security?

My advice would be to focus on solving real problems and embracing innovation. Africa’s agricultural sector has huge potential, but it needs fresh ideas and technology to tackle issues like inefficiency, poor infrastructure, and climate change. Young entrepreneurs should work on creating solutions that can grow and make a lasting impact, whether it’s by improving production, enhancing distribution, or making financing more accessible. It’s also important to build strong networks, seek out mentors, and collaborate with others who share the goal of transforming agriculture into a sustainable industry that will shape Africa’s future.