The SME Accelerator aims to address the key challenges faced by small businesses, including limited access to capital, technology infrastructure, access to market and mentorship.  The program is designed to foster innovation, improve competitiveness, drive growth and create sustainable employment opportunities.

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 program will provide Nigerian SMEs with access to vital resources, including digitalization, mentorship, access to networks,  technological support, and mobilization of partners for funding enabling them to overcome barriers and achieve sustainable growth.

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. The program officially launches on Monday 10th July; businesses will have two weeks to apply and the top 20 will be announced. Applications will be through the Adanian Labs website.

According to recent statistics, small and medium enterprises account for over 90% of businesses in Africa, contributing approximately 50% of employment and 33% of the continent's GDP. In Nigeria alone, SMEs represent about 96% of businesses, employing millions of people and serving as engines of innovation and economic progress.

Shiela Yabo, ayoba’s Head of Ecosystem Development 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.”

"We are excited to partner with Adanian Labs in launching the SME Accelerator, a pivotal initiative that will empower Nigerian small businesses," further stated Yabo. "Through this collaboration, we aim to unlock the potential of Nigerian SMEs, driving economic prosperity and creating opportunities for sustainable development."

Killian Mayua, Country Manager for Adanian Labs, Nigeria said "We are thrilled to collaborate with Ayoba in launching the SME Accelerator program, which holds great promise for Nigerian small businesses. Adanian Labs is a firm believer that Africa will realize its full potential once its SME sector is transformed. We have dedicated our work to building solutions that powers and digitizes SME’s. Our joint efforts will support the growth of SMEs, boost economic resilience, and contribute to the overall development of this important sector."

The partnership between Ayoba and Adanian Labs, through the launch of the SME Accelerator, represents a significant milestone in fostering innovation, driving entrepreneurship, and contributing towards economic empowerment positioning Nigeria as a hub for SME growth and development.