Nigerian Firm To Compete In $637m Mentoring Software Market

With the nascent global mentoring software market attracting steady investments of $637 million and predicted to hit $2 billion by 2036, Mentor’s Tower Limited, a Nigerian-based mentoring firm, has disclosed plans to compete in the space.

Latest findings by researchers have indicated the growing appetite for mentorship by corporates and individuals for career advancement and productivity boosting.

Riding on these waves, Mentors’ Tower is expanding its operations to deliver cross-border services through the new mobile App which provides avenues for mentors and mentees to work through a wide range of possibilities to achieve desired results.

Mentoring software is a technology platform that facilitates the organisation, management and measurement of effective mentoring programmes, including matching mentors and mentees, scheduling sessions and tracking progress.

According to the latest findings by Research Nestler, a leader in global market analysis, the mentoring software market size is poised to reach $2 billion by the end of 2036, growing at a cumulative annual growth rate (CAGR) of 20 per cent during the forecast period spanning 2024 to 2036. Meanwhile, the industry size was estimated at just $637 million by the end of 2023.

The growth is impelled by growing online education across the globe, founder and director of Mentors’ Tower, Dr. Clement Obadimu, disclosed at the launching of Mentors’ Tower App, over the weekend in Lagos.

Over the past ten years, there has been a noticeable increase in the number of people pursuing online learning as people have been able to acquire new skills owing to growing usage of the internet, the availability of many online learning systems which are often less expensive than conventional mentoring and coaching systems, Obadimu stated.

The founder averred that a lot of people want to become great in life, but they don’t know how to navigate their career path, adding that Mentors Tower app will foster professional growth and bridge the gap between experienced professionals and aspiring individuals.

“Mentorship is crucial for personal and professional development. The Mentors’ Tower is our solution to make this vital resource accessible to everyone, regardless of their location or industry. So, you can link up the best mentors anywhere in the world, as we have international mentors on the platform.

Speaking on efforts to address the skill gap in the ICT sector, the CEO said, “We plan to commence a degree program, post-graduate degree and professional degree programme. The idea is to draft a curriculum that will tackle issues such as brain drain in society.”

Also speaking at the gathering, a mentor at the firm and Nigerian Professor, Ruth Adelagun, stressed that initiatives such Mentors’ Towers are needed to bridge identified gaps between the education obtained in the classroom and what is required to be productive in the society.

She further envisaged the future possibility of introducing mentorship programmes into the curriculum used in Nigerian higher institutes of learning.

She said: “In the classroom, we emphasise educating people academically, but not much about their character or what they really need to fit in. We’ve had cases of someone that made first class in the university but character-wise, they are not there. So, they came into the society and found it difficult to functionally blend with the society. “This is part of the gaps that Mentors’ Tower is closing and it is fascinating that smart technology is being deployed to achieve that purpose.”