MTN Nigeria has awarded N100 million in funding to 20 high-potential startups in Lagos, reinforcing its commitment to strengthening the country’s innovation and entrepreneurship ecosystem.
The beneficiaries, selected under the inaugural MTN Cloud Accelerator Programme, each received a non-equity grant of N5 million. Beyond funding, the cohort gained access to MTN’s APIs, cloud infrastructure, Africa’s largest telecom network, mentorship from industry experts, and opportunities to pitch to investors.
Speaking at the presentation ceremony, MTN Nigeria’s Chief Enterprise Business Officer, Lynda Saint-Nwafor, said the initiative stemmed from the company’s ambition to build a world-class data centre and introduce MTN Cloud as a platform that removes traditional barriers to digital capability.
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“It all began with a dream to build a world-class data centre and launch MTN Cloud,” she said. “We then made a promise to create an accelerator programme that would empower African startups to scale and compete globally. Today, we have delivered. Africa does not lack ideas – what entrepreneurs need are the right partnerships, tools and environments to grow.”
During a panel session, MTN Nigeria’s Chief Strategy and Investment Officer, Babalola Oyeleye, emphasised the importance of collaboration among corporates, development organisations and other stakeholders. He noted that while MTN currently works with over 180 partners, deeper partnerships with startups are essential for building sustainable, inclusive solutions.
Technology investor Victor Asemota, who has worked with MTN for over two decades, called for stronger corporate involvement in the startup ecosystem. He urged telecom operators to consider mergers and acquisitions as a pathway to supporting high-growth companies, while highlighting regulatory challenges as a key barrier to startup success in Africa.
The Accelerator Programme brought together some of the continent’s most promising innovators in fintech, healthtech, agritech, edtech and related fields. Participating startups demonstrated strong potential for scale across Africa by leveraging MTN’s infrastructure, APIs and strategic partnerships.
Notable startups in the cohort include DoktorConnect (Joseph Olowe), MYITURA (Shina Arogundade), Regxta (Bello Rukayat), Creditchek (Kingsley Ibe), and Solarcorple (Oyekanmi Stephen). Others are Hadi Finance, Proconnect, PBR Life Sciences, ProDevs, PipeOps, Uri Creative, and Precious Zino.
