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Ayoba launches Nigeria accelerator programme with Adanian Labs

FG begins loan payment to manufacturers, MSMEs to bolster economy

African Superapp Ayoba has announced the launch of its Nigeria Accelerator Programme in partnership with Adanian Labs, aimed at empowering and accelerating the growth of small businesses in Nigeria. The initiative comes at a crucial time when Nigerian SMEs play a vital role in driving economic growth and job creation in the country.

According to a statement seen by BusinessDay, the SME Accelerator programme aims to address the key challenges faced by small businesses, including limited access to capital, technology infrastructure, market access, and mentorship.

“By fostering innovation, improving competitiveness, and driving growth, the program seeks to create sustainable employment opportunities and empower Nigerian SMEs,” Ayoba said.

It added “Ayoba’s all-in-one app, which offers a messaging suite, hyperlocal content, gaming, music, and e-commerce, combined with Adanian Labs’ expertise in technology solutions and ecosystem development, forms the foundation of this partnership.”

By leveraging these capabilities, Ayoba said the SME Accelerator programme is expected to provide Nigerian SMEs with vital resources such as digitalization, mentorship, access to networks, technological support, and partner mobilization for funding, enabling them to overcome barriers and achieve sustainable growth.

“The accelerator aims to equip Nigerian SMEs with the necessary tools to thrive in the digital age by offering tailored mentorship, access to funding opportunities, and technological resources,” It added.

The programme officially launched on Monday, July 10th, with a two-week application period. The top 20 selected businesses will be announced after the application process, which will be conducted through the Adanian Labs website.

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Recent statistics show that small and medium enterprises account for over 90 percent of businesses in Africa, contributing around 50 percent of employment and 33 percent of the continent’s GDP.

In Nigeria alone, SMEs represent approximately 96 percent of businesses, employing millions of people and serving as engines of innovation and economic progress.

Shiela Yabo, ayoba’s Head of Ecosystem Development, emphasised the significant potential impact of empowering Nigerian SMEs. Strengthening this sector could lead to accelerated economic growth, increased job opportunities, and enhanced competitiveness on the global stage. A

“Additionally, supporting small businesses fosters entrepreneurship, drives innovation, and contributes to wealth creation, ultimately improving the overall socio-economic landscape of Nigeria,” Yabo said.

Yabo further expressed excitement about partnering with Adanian Labs, stating that through this collaboration, they aim to unlock the potential of Nigerian SMEs, driving economic prosperity and creating opportunities for sustainable development.

Killian Mayua, country manager for Adanian Labs in Nigeria, also shared his enthusiasm for the partnership.

He believes that Africa will realize its full potential once its SME sector is transformed. Adanian Labs has dedicated its work to building solutions that power and digitize SMEs. The joint efforts of Ayoba and Adanian Labs aim to support the growth of SMEs, boost economic resilience, and contribute to the overall development of this crucial sector.