Grow Enterprise Africa (GEA) has selected more than 40 small and medium-sized businesses from over 550 applications for the inaugural edition of its SME Accelerator, an eight-week programme focused on strengthening business operations, market growth and investment readiness.

The GEA SME Accelerator 2026 was formally launched on September 19 at The Good House in Lagos, bringing together participating entrepreneurs, faculty members, partners and other members of the business community.

Selected businesses are drawn from 14 states and the Federal Capital Territory, with participants coming from locations including Lagos, Kaduna, Akwa Ibom, Taraba, Abuja, Kano, Adamawa, Kwara, Kebbi and Oyo.

Agriculture represents the largest sector within the cohort, according to the organisation, while many of the participating businesses have been operating for between five and 10 years and employ an average of approximately four to eight people.

GEA said the programme was created to address some of the structural challenges that prevent small businesses from moving beyond their early stages despite having viable products or services.

Over the eight weeks, participating founders will work on areas including management, governance, marketing, sales and finance, with the aim of identifying weaknesses within their businesses and introducing more structured approaches to growth.

Building stronger businesses

Speaking at the launch, GEA founder Remi Ademiju said strengthening SMEs could contribute to wider economic development by helping entrepreneurs build more sustainable businesses.

“A thriving SME sector is the bedrock of a prosperous society. Entrepreneurs play a vital role in driving economic development, and their growth directly shapes the socio-economic advancement of our communities,” Ademiju said.

“At GEA, our purpose is to bridge critical growth gaps. Through the SME Accelerator, we are equipping founders with the structure, insight, network and access to finance and markets needed to scale sustainably and contribute meaningfully to the economy.”

Rather than concentrating on a single area of business development, the accelerator has been organised around five areas: People and Leadership, Legal and Governance, Marketing and Brand Visibility, Sales and Market Growth, and Finance and Capital Readiness.

Participants will undertake practical training, assignments, mentorship and peer-learning sessions while interacting with professionals drawn from different areas of business.

GEA said the curriculum is intended to support three broad outcomes: improving businesses’ readiness for external investment and finance, strengthening sales and market access, and helping founders establish more effective internal systems and management practices.

Access to the programme itself, however, does not guarantee funding or investment. The organisation said it intends to help participating companies improve their readiness and subsequently connect suitable businesses with potential sources of capital and other opportunities.

Faculty drawn from business, finance and governance

The programme’s faculty includes professionals working across human resources, corporate governance, finance, marketing and commercial strategy.

They include Goodness Armstrong, founder of StartupHR Africa and former HR Business Partner at Microsoft; Rosemond Phil-Othihiwa, Chairperson of the Corporate Governance and Compliance Committee of the Nigerian Bar Association Section on Business Law; and Florence Damilola Olatunbosun, co-founder of SME financial management service Akkant.

Others include Victor Bella, founder of marketing company Socialander, and Lolia Kienka, who is facilitating the accelerator’s sales component.

Kienka said many of the participating founders already had products and ambition but needed more consistent systems for converting opportunities into sales.

“These founders are not short of ambition or of good products. What most of them are missing is a repeatable sales process,” she said.

“My sessions will focus on building one: knowing who is worth chasing, and what happens next every single time.”

She said questions from participants during the opening sessions suggested that many were seeking practical business structures rather than motivational instruction.

“These entrepreneurs are not looking for motivation; they are looking for structure. That is precisely what a well-run accelerator should give them,” Kienka added.

Entrepreneurs target markets and finance

Some participating entrepreneurs said they joined the accelerator hoping to strengthen their businesses and gain access to wider networks.

Joyce Folaranmi, founder of Agro Haven, said the initial sessions had provided useful insights.

“I’m quite excited about the programme. The few sessions we had have been insightful. The facilitators know their onions, and they’ve been able to pass down that knowledge as well,” Folaranmi said.

“I’m looking forward to learning more, connecting with other builders, and taking advantage of all the programme has to offer.”

Paul James Eteudo, founder of Vegituber Farms Limited, described the launch as interactive and said his business hoped the programme would provide opportunities for new commercial relationships.

“It was an interactive and engaging experience. I loved the intimacy of the gathering. It gave room for everyone to be seen and heard,” Eteudo said.

“My team and I look forward to getting more market access, funding opportunities, amongst other collaborations that will be profitable for our enterprise.”

Beyond the accelerator

GEA said it plans to maintain contact with participating businesses after the eight-week programme rather than ending support when the formal curriculum concludes.

The organisation plans to develop relationships with corporate organisations, development finance institutions, banks and other financial institutions, as well as angel investors that could potentially support businesses emerging from the programme.

Part of that strategy involves developing a pipeline of SMEs that have improved their governance, financial management and operational structures sufficiently to engage potential investors or lenders.

For an accelerator of this nature, the longer-term test will be what happens to participating businesses after the training ends.

Measures such as revenue growth, employment created, new markets entered, capital raised and business survival could provide a clearer indication of the programme’s impact than the number of entrepreneurs completing its eight-week curriculum.

GEA describes itself as an SME support organisation providing practical business education, mentorship and access to professional networks and opportunities.

With its first accelerator cohort now underway, the organisation is attempting to address a familiar challenge for Nigerian entrepreneurs: moving from having a viable business to building the structures, processes and commercial relationships required to grow it sustainably.