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Many research findings have highlighted the importance of numerous sustainability factors needed for entrepreneurship growth and development but have not linked them to specific phases of the business evolution from start-up to established phase and beyond. Also, there is a dearth of information on the relative importance of these factors in each phase. Hence, this empirical study presents a detailed and comprehensive presentation of the phases involved in the entrepreneurial process, examines the sustainability factors adopted in the entrepreneurship phases of two emerging economies in Africa, and identifies the most crucial factor (s) in each phase. Primary data was collected through administration of 1200 questionnaires to selected respondents in the commercial capital cities of the two African emerging economies-Lagos and Johannesburg. Descriptive statistics was used to ascertain the sustainability factors adopted in each entrepreneurship phase, and Principal Component Analysis (PCA) was used to identify the most crucial sustainability factor (s) in each phase. The results showed that the relevant sustainability factors vary across the entrepreneurship phases, and were peculiar to each economy. Further, some similarities exist in the sustainability factors relevant in identical phases in both economies. The results also confirmed that some sustainability factors are more crucial than others in some entrepreneurship phases. Based on the findings of this study, some policy recommendations are made and areas for further research are identified. Given the relative importance of the sustainability factors in each entrepreneurship phase …