In a significant boost for Nigeria's innovation landscape, MTN Nigeria has empowered 20 pioneering startups with a total of N100 million in non-equity funding. The disbursement took place in Lagos on 3 December 2025 as the culmination of the inaugural MTN Cloud Accelerator programme.
Fueling Ambition with Capital and Infrastructure
The selected entrepreneurs each received a N5 million cheque, providing crucial financial fuel without taking ownership stakes. Beyond the capital, the programme offered a comprehensive support system designed to accelerate growth. This included integration with MTN's APIs and cloud infrastructure, access to the telecom giant's extensive network across the continent, mentorship from seasoned industry leaders, and valuable opportunities to pitch to potential investors.
A Promise Delivered to African Innovators
Speaking at the event, Lynda Saint-Nwafor, Chief Enterprise Business Officer at MTN Nigeria, traced the initiative's roots to the ambition of launching a world-class cloud service. "Building on that momentum, we made a promise – to create an Accelerator Programme that would empower African startups to scale, thrive and lead globally. And today, we have delivered," she stated.
Saint-Nwafor challenged the perception of Africa as merely an 'emerging' market, highlighting the existing innovation, resilience and grit of its entrepreneurs. "What African entrepreneurs lack is not ideas, but the right environment, partners and tools to scale globally. And that is exactly what this programme provides," she affirmed.
Calls for Collaboration and Corporate Engagement
The event also featured a panel discussion emphasizing the need for broader ecosystem support. Babalola Oyeleye, Chief Strategy and Investment Officer at MTN Nigeria, advocated for deeper collaboration between development agencies, corporations, and other stakeholders. He revealed that while MTN has over 180 transactional partners, there is a strategic need to partner with startups to co-create inclusive and sustainable solutions.
Renowned technology investor, Victor Asemota, urged for more active corporate participation to foster the emergence of Nigerian unicorns. He identified regulatory issues as a major hurdle and suggested that telecom operators should consider acquiring innovative companies through mergers and acquisitions (M&A) rather than just buying their products.
Spotlight on Promising Innovators
The first cohort of the Accelerator programme brought together a dynamic mix of startups from key sectors including fintech, healthtech, agritech, and edtech. These companies were recognized for their potential to scale across Africa by leveraging MTN's resources and partnerships.
Some of the standout startups that received funding include:
- DoktorConnect led by Joseph Olowe
- MYITURA founded by Shina Arogundade
- Regxta led by Bello Rukayat
- Creditchek led by Kingsley Ibe
- Solarcorple led by Oyekanmi Stephen
Other beneficiaries were Hadi Finance, Proconnect, PBR Life Sciences, ProDevs, PipeOps, Uri Creative, and Precious Zino. This strategic investment by MTN marks a concrete step towards bridging the scale-up gap for Nigeria's most promising tech ventures.
