MTN Rewards 20 Startups With N100m Funding

MTN has rewarded 20 Startups with N100 million in funding at its maiden MTN Cloud Accelerator Demo Day over the weekend in Lagos.

The event drew the attention of innovators, investors and industry leaders, where some of the country’s most promising startups presented solutions designed to drive Africa’s digital growth.

Speaking at the Cloud Accelerator Demo Day, the chief operating officer (COO) for MTN Nigeria, Ayham Moussa, in his welcome address, said the accelerator programme is aimed at equipping young technology companies with the tools, mentorship and cloud infrastructure needed to scale sustainably in a competitive market.

Ayang said the programme, launched on July 1, 2025, attracted 8,000 founders of various platforms across Africa who expressed interest. However, after careful screening and selection, only 20 founders were chosen.

He said the programme was not just an initiative but a real engine for growth, and the current cohort showcased products developed through weeks of technical workshops, business advisory sessions, and hands-on support from MTN specialists.

Delivering the keynote address, MTN Nigeria’s chief enterprise business officer, Lynda Saint-Nwafor, outlined the vision behind the programme as a strategic force backed by a N100 million fund to help address challenges that slow founders down, including the need for reliable infrastructure and market access.

She highlighted the growing relevance of cloud technology in supporting Nigeria’s expanding digital economy, noting that the solutions unveiled demonstrated the potential for homegrown innovation to solve persistent development challenges.

The Cloud Accelerator Demo Day featured a panel session. The 20 founders, who received cheques of N5M million each, took turns speaking about their respective brands.

The 20 founders and brands are: Abiola Jimoh – XChangebox, Kolade Adewoye – Fusion Intelligence Technologies, Boluwatife Arewa – Scrapays Inc., Lanre Ogungbe – Prembly, Pierre Nwoke – Sproutly, Oyekanmi Stephen – Solarcorp Technologies, Joseph Olowe – DoktorConnect, Bidemi Adebayo – Hadi Finance, Shina Arogundade – Myltura, Elda David Kehinde – Proconnect, Kingsley Ibe – Creditchek, Bello Rukayat – Regxta, Ayodeji Alaran – PBR Life Sciences, William Nwogbo – ProDevs, Samuel Ogbonyomi – PipeOps, and founders of Uri Creatives, AgroVesto, Trashcash, Bunce and Debt Recuva.

The general manager of Enterprise Marketing, Njideka Jack, gave the closing remark, expressing her gratitude to MTN leadership for taking a bold step in supporting founders who develop digital solutions to drive the economy, while also congratulating the beneficiaries.

The Demo Day concluded with a networking mixer at the same venue, providing founders with an opportunity to connect with investors, corporate partners, and fellow innovators as they explore pathways to commercial growth and broader market adoption.