MTN Cloud Accelerator has moved from its launch stage into the learning phase with the 20 selected startups beginning structured sessions focused on growth and market integration. The cohort represents a focused approach to addressing Nigeria’s startup ecosystem challenges, as the country currently ranks 66th globally with 846 startups and has dropped two positions from its 2024 ranking.
Each of the 20 participating startups receives ₦5 million in equity-free grant funding as part of the broader ₦100 million program investment. This funding model contrasts with traditional accelerators, as MTN is not taking equity in exchange for the support.
As part of the early programme activities, founders engaged with business leaders across travel, fintech, mobility and lending. The discussions featured Bayo Adedeji, Group CEO at Wakanow, Dapo Awobokun, Startup Partner at Paystack, Damilola Olokesusi, CEO of Shuttlers and Tobi Amira, Senior Vice President of Business Loans at Moniepoint. These interactions are particularly valuable given that companies participating in ecosystem support programs are 23% more successful in securing investment and more likely to be generating new jobs.
The programme also included practical learning sessions targeting sectors where Nigeria shows strength. Lagos alone hosts over 2,000 startups, with Fintech leading the ecosystem, making the technical sessions particularly relevant. Niyi Yusuf, Managing Partner at Verraki Africa, presented business transformation frameworks. Saad Syed, CEO of Chenosis, discussed API driven growth, while Adebayo Ajibade, CEO of Loubby AI, spoke on the role of AI in driving efficiency and scalability.
Chinyelu Chikwendu, Senior Manager, Strategy and Innovation at MTN Nigeria, and Akinbulejo Onabolu, Senior Manager, SME Segment, provided context on how startups can connect with MTN’s cloud and API infrastructure. This integration approach is significant given MTN’s scale—the company added 3.8 million mobile subscribers in the first half of 2025, bringing its total to 84.7 million, while active data users climbed to 51 million.
Onabolu has previously explained MTN’s broader vision for enterprise solutions, noting at the NextNow Business Forum that the company’s platforms are designed to create affinity. “Today, we showcased the CPaaS platform, which marks a complete transformation in how businesses engage with their customers. This product is designed to create affinity, drive engagement, and build meaningful connections between brands and customers.”
The startups span fintech, healthtech, cleantech, agritech and edutech sectors that align with Nigeria’s startup landscape where 1,495 companies have secured funding as of September 2025. The job creation potential is significant, as 76% of Nigerian ventures are creating jobs with an average of 8.5 full-time employees per venture.
Ajibade described his facilitation experience as an example of collaboration between corporates and startups, adding that the goal is to provide founders with tools that can support both local and wider market solutions.
The MTN Cloud Accelerator will run until December with a Demo Day set to hold in November as a major highlight. The timing follows Nigeria’s successful hosting of GITEX Nigeria 2025, where MTN participated alongside over 650 startups from across Africa, the Middle East, and Asia, plus 200 investors and venture capitalists. The event showcased startups from over 27 countries across 29 different industries, demonstrating the scale of opportunity for Nigeria’s tech ecosystem.
The next phase will show how the ₦100 million investment and structured sessions can support measurable business outcomes. Success will be measured against the broader context where Nigeria’s startup ecosystem as of April 2025, grew by 5.4% with the expectation that targeted corporate support can accelerate revenue growth, job creation and social impact in Nigeria’s technology ecosystem.
