As part of efforts to boost the country’s startup ecosystem, MTN Nigeria has released N100 million to 20 innovative entrepreneurs in Lagos.
Through the MTN Cloud Accelerator programme, it provided a robust support system – integration with MTN’s APIs and cloud infrastructure, access to the continent’s largest telecom network, mentorship from industry leaders and investor pitch opportunities.
A N5 million non-equity cheques were presented to all 20 participants in the first cohort of the programme.
Chief Enterprise Business Officer at MTN Nigeria, Lynda Saint-Nwafor, recalled: “It all began with a dream – to build a world-class data centre and launch MTN Cloud, a solution designed to deliver on world-class capabilities without the usual barriers. 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. For too long, our continent has been described as ’emerging’, but what we see are markets already bursting with innovation, resilience and grit. 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”
During a panel discussion, Chief Strategy and Investment Officer, MTN Nigeria, Babalola Oyeleye, canvassed collaboration among development agencies, corporations and other stakeholders.
He observed that MTN Nigeria has over 180 partners on a transactional level, adding that there is a need to partner with startups to co-create inclusive and sustainable solutions.
On his part, technology investor, Victor Asemota, advocated for more corporate participation in order for more unicorns to emerge from the country. Specifically, he identified regulatory issues as a major gap for startups on the continent
Saying he has been a partner with MTN over the past two decades, he suggested telecom operators should buy companies through mergers and acquisitions (M&A) instead of buying products.
The Accelerator programme brought together some of the continent’s most promising startups in the areas of fintech, healthtech, agritech, and edtech, among others.
These startups have displayed outstanding prowess to scale across the continent by leveraging MTN’s infrastructure, APIs, and strategic partnerships.
Some of the startups are 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. Others are Hadi Finance, Proconnect, PBR Life Sciences, ProDevs, PipeOps, Uri Creative and Precious Zino.
