Grow Enterprise Africa (GEA) has launched an eight-week Small and Medium Enterprises (SMEs) Accelerator programme aimed at addressing capital, market access and operational challenges limiting the growth of African businesses.

The programme, which is free to participating founders, will equip 30 businesses with skills, networks, market access and capital-readiness support to enable them to scale sustainably.

The accelerator is structured around three key pillars: capital readiness, market growth and operational excellence.

Founder and Executive Director of GEA, Remi Ademiju, said the initiative was designed to bridge critical gaps that prevent small businesses from moving from survival and early growth stages to sustainable expansion.

According to him, a thriving SME sector is essential to a prosperous society because entrepreneurs contribute significantly to job creation, innovation and the strengthening of local economies.

He 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 market needed to scale sustainably and contribute meaningfully to the economy.”

The first cohort, comprising 30 businesses, is scheduled to run from September 19 to November 6, following applications, selection and interviews conducted between July and August.

Speaking during a webinar on the sales component of the programme, Commercial and Corporate Strategy Leader, Lolia Kienka, identified weak sales systems as another challenge affecting the ability of many entrepreneurs to scale.

Kienka said having a good product alone was not sufficient to guarantee business growth, noting that many entrepreneurs had strong products and ambition but lacked a repeatable sales process capable of consistently converting prospects into customers.

She said the programme would help participating founders understand who to target, how to pursue prospective customers and what should happen at each stage of the sales process.

According to her, entrepreneurs needed structure rather than motivation alone to build businesses capable of achieving sustainable growth.

GEA said its existing portfolio comprised 29 active Nigerian SMEs operating across 12 sectors and 14 states, with 17 of the businesses generating more than N10 million in annual revenue.

The organisation said 55 per cent of the businesses in its portfolio had raised external capital, while 72 per cent were at the growth stage.

It added that 83 per cent of the businesses were seeking grant capital, highlighting the importance of alternative funding sources for SMEs seeking to expand their operations.

The accelerator will provide participants with opportunities to strengthen their investment readiness, improve business operations and connect with potential sources of finance and market opportunities.

GEA said partners could participate in the initiative by joining the cohort, committing to a segment of its portfolio, undertaking a 30-day diligence sprint or participating in partner roundtables.

The organisation said the programme was aimed at helping African entrepreneurs overcome barriers to capital, market access and operational capacity while building businesses capable of creating jobs and contributing to economic growth.