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Ayoba, Adanian Labs launch Nigeria SME accelerator

By , ITWeb
Nigeria , 10 Jul 2023
Shiela Yabo, Ayoba’s head of ecosystem development.
Shiela Yabo, Ayoba’s head of ecosystem development.

MTN-backed African superapp Ayoba has partnered with technology studio Adanian Labs to launch a Nigerian accelerator programme.

The programme officially opens for applications today; businesses have two weeks to apply through the Adanian Labs website.

In a statement, Ayoba said the SME accelerator aims to address the challenges faced by small businesses, including limited access to capital, technology infrastructure, access to the market and mentorship.

“The programme is designed to foster innovation, improve competitiveness, drive growth and create sustainable employment opportunities,” said Ayoba.

It notes the programme will provide Nigerian SMEs with access to resources, including mentorship, access to networks, technological and digitalisation support, and the mobilisation of partners for funding, enabling them to overcome barriers and achieve sustainable growth.

Small businesses are said to be vital in driving economic growth and job creation in the country. According to the International Labour Organisation, in Nigeria, SMEs contribute 48% to the national GDP and account for 96% of businesses and 84% of employment.

Shiela Yabo, Ayoba’s head of ecosystem development, said: “The potential impact of empowering Nigerian SMEs is significant. By strengthening this sector, the country can experience accelerated economic growth, increased job opportunities, and enhanced competitiveness on the global stage.

“Furthermore, supporting small businesses fosters entrepreneurship, drives innovation, and contributes to wealth creation, ultimately improving the overall socio-economic landscape of Nigeria.”

Similarly, Killian Mayua, country manager for Adanian Labs, Nigeria, said the programme holds great promise for Nigerian small businesses.

Adanian Labs is a pan-African Web 3.0 technology studio founded to provide technology solutions for Africa's key growth sectors that are driven by SMEs.

Mayua said: “We have dedicated our work to building solutions that power and digitise SMEs. Our joint efforts will support the growth of SMEs, boost economic resilience, and contribute to the overall development of this important sector."

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