Two firms, Ayoba and Adanian Labs, have partnered to boost the operations of Small and Medium Enterprises (SME) in Nigeria.
According to recent statistics, small and medium enterprises account for over 90 per cent of businesses in Africa, contributing approximately 50 per cent of employment and 33 per cent of the continent’s GDP.
In Nigeria alone, SMEs represent about 96 per cent of businesses, employing millions of people and serving as engines of innovation and economic progress.
Recognising the importance of this sector, Ayoba and Adanian Labs have joined forces to establish a specialised accelerator programme tailored to the needs of Nigerian SMEs.
Addressing SME challenges through this collaboration, the SME accelerator aims to address the key challenges faced by small businesses, including limited access to capital, technology infrastructure gap, access to market and mentorship.
The Ayoba-Adanian Labs partnership brings together Ayoba’s comprehensive all-in-one app, which offers a messaging suite, hyperlocal content, gaming, music and e-commerce, with Adanian Labs’ expertise in technology solutions and ecosystem development.
By leveraging these capabilities, the SME Accelerator programme will provide Nigerian SMEs with access to vital resources, including digitalisation, mentorship, access to networks, technological support and mobilisation of partners for funding enabling them to overcome barriers and achieve sustainable growth.
Head of Ecosystem Development at Ayoba, Shiela Yabo, said: “The potential impact of empowering Nigerian SMEs is significant. By strengthening this sector, the country can experience accelerated economic growth, increased job opportunities and enhanced competitiveness on the global stage.
“Furthermore, supporting small businesses fosters entrepreneurship, drives innovation and contributes to wealth creation, ultimately improving the overall socio-economic landscape of Nigeria.”
Country Manager for Adanian Labs, Killian Mayua, said that by offering tailored mentorship, access to funding opportunities and technological resources, the accelerator aims to equip Nigerian SMEs with the tools they need to thrive in the digital age, as the SME Accelerator programme holds great promise for Nigerian small businesses.
