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Ọsẹ dúdú production and sale constitute a major indigenous business among the Yoruba people. Scholars have noted that the business is capable of boosting the socio-economic status of black soap entrepreneurs and of countries. However, ọsẹ dúdú enterprise has some significant threats and problems that are yet to be researched. This chapter examined the challenges of osẹ dúdú entrepreneurs in Southwest Nigeria. Twenty-six interviews were conducted among indigenous black soap producers and sellers in Ogun, Oyo and Lagos States. Data were analysed in themes. Weather, financial, spiritual, copyright and succession challenges, as well as issues such as a large number of sellers, debt, lack of support, pricing and brand competition, were found to be problems faced by black soap entrepreneurs. This chapter concluded that certain controllable and uncontrollable factors were not only capable of limiting the development of osẹ dúdú business but also have adverse implications for the achievement of the sustainable development goals through the indigenous resource. This chapter suggests that osẹ dúdú business actors such as mechanical engineers, local fabricators, financial institutions, and governmental and non-governmental agencies collaborate with black soap entrepreneurs to ameliorate the challenges of the latter. It is only through this alliance that black soap entrepreneurs can contribute to indigenous business development and the achievement of sustainable development goals in Africa.

The Igbo people of south-eastern Nigeria are generally acknowledged as traders and astute entrepreneurs. Extant literature has investigated the various indigenous practices of Igbo entrepreneurs that ensure business success. Despite these efforts, knowledge of their financial practices has been limited. This chapter provides insights on the financial practices that are common amongst Igbo micro-entrepreneurs and the immense benefits of the practices. To unravel these practices, in-depth interviews were conducted with 15 micro-entrepreneurs involved in supermarket, spare parts and food items businesses in Lagos, Nigeria. Using a grounded theory approach, four significant financial practices such as rotating financial contribution, deferred financial arrangements, financial settlement practice and financial prudence common among the Igbo micro-entrepreneurs were identified. Based on the findings, relevant recommendations were made for financial educators and the management of modern financial institutions to adapt and incorporate some of these indigenous financial practices in teaching curricula and financial product designs.

Africa's history of trade, production and financial services that propelled the continent's economic systems existed long before an era of colonisation commonly recognised as beginning in the nineteenth century. By the time the decolonisation of a majority of African countries was achieved in the mid-twentieth century, the African economic identity had been, to a great extent, relegated by Westernised methods and orientations. Today, Indigenous practices are once again resurfacing in Africa's ongoing search for sustainable development, with increasing calls to resuscitate and incorporate these age-long business orientations. This introductory chapter provides readers with a synopsis of all the themes of this second of a two-volume edited book with a focus on the philosophies and practices of Indigenous businesses, which, if successfully explored and scaled up, would make significant contributions to Africa's economic infrastructure.

This chapter documents business ethics and value orientation of the Igbo business model of southeastern Nigeria. The case study method was employed with two purposively selected Igbo enterprises based in Lagos, Nigeria, to provide insights into the model. The chapter reveals that business ethics and values constitute key components of indigenous business success and survival. The identified business ethics and values include diligence, trust, prudence, unity, honesty, integrity, cordial relationships with customers and suppliers, perseverance and patience. Furthermore, the Igbo apprenticeship system facilitates the transfer of business knowledge, practices and principles from one generation to another. Notably, one of the cases focuses on a female-owned enterprise, emphasizing that the issues raised are applicable to both genders. The chapter concludes with recommendations for business actors in Africa.

Africa is a vast, immensely diverse continent with hundreds of local languages, traditions, values, and cultures that shape the lives of its people. The vast resources available on the continent present numerous opportunities for economic development and prosperity. The preceding chapters in this volume have explored many of these resources, highlighting the importance of indigenous knowledge in driving sustainable business structures across Africa. This chapter concludes with practical recommendations for implementing and sustaining indigenous knowledge on the continent and building a more equitable and sustainable future for Africa. We anticipate that these observations and recommendations will aid African researchers, government and non-governmental organisations, educators, business actors and leaders, legislators, and the general public in thinking globally but acting locally to advance indigenous knowledge in Africa.

Africa's diverse geographic regions are replete with indigenous business knowledge and practices embedded in the traditions, values and culture of the people. Many of these practices have been explored in the previous chapters of this book. This final chapter provides viable recommendations for adopting and improving Africa's indigenous business practices and methodologies. We expect that these observations and recommendations will support Africa's educators', business actors' and policymakers' efforts to draw from and apply rich insights from indigenous business knowledge and practices. However, beyond this, we hope that international enterprises operating in the continent can learn about the uniquely African business values and incorporate them appropriately into a context that fits. This concluding chapter, therefore, discusses how these objectives may be achieved.