Launched on July 1 by Dr. Bosun Tijani, the minister of Communications, Innovation and Digital Economy, the MTN Cloud Accelerator was built as a “real engine for scale,” not a ceremonial initiative, said Ayham Moussa, chief operating officer, MTN Nigeria, in his opening remarks.

“Africa’s next unicorn will be built by founders who deeply understand the continent, supported by local infrastructure that can scale globally,” Moussa said. “Build fast, build lean, and design for resilience from day one.”

A ₦100 Million Commitment to Startup Growth

Delivering the keynote address, Lynda Saint-Nwafor, chief enterprise business officer (CEBO) at MTN Nigeria, highlighted the company’s intentional investment in Africa’s digital future.

She stated that MTN’s ₦100 million in direct funding to the cohort was strategically deployed to help startups overcome two major barriers: infrastructure gaps and market access.

Beyond funding, founders gained seamless access to local and scalable MTN infrastructure including:

• MTN Cloud for local, reliable and predictable computing power
• MoMo Payment Solutions for easy integration of payment collections
• Chenosis APIs for faster development cycles

“Acceleration is more than technology, it requires exposure, structure and clarity,” she said. “Our founders are leaving sharper, more confident, and better equipped to scale.”

Startups also participated in ecosystem tours and intensive masterclasses covering investor readiness, product design, CX, go-to-market strategies, sales execution and founder wellness.

Founders Celebrate Transformative Experience

Speaking on behalf of the 20-startup cohort, valedictorian Dr. Joseph Olowe, founder of Doktor Connect, described the programme as “nothing short of transformative.”

He celebrated MTN’s leadership, speakers, mentors and programme managers, Cynthia Chisom, programme manager, Cloud Accelerator and Napa Onwusah, managing partner, B4B Partners, for their hands-on support.

He also highlighted real-world business impacts, including product improvements, revenue opportunities and collaborative wins among participating startups.

“We are leaving as better businesses and a connected community,” Olowe said. “One idea shared in a demo session added an estimated $3,000 per user in annual revenue. That is the kind of bottom-line impact this accelerator created.”

MTN Reaffirms Long-Term Commitment to Africa’s Innovation Agenda

In her closing remarks, Njideka Jack, general manager, Enterprise Marketing at MTN Nigeria, applauded the founders, investors, mentors and global partners who contributed to the success of the programme.

“This is an exciting time for Nigeria and Africa,” she said. “We must move from potential to actual, building solutions in Africa, by Africans, for Africans. MTN will continue enabling these opportunities.”

Founders received mentorship from some of Africa’s most respected technology leaders, including Mitchell Elegbe (Interswitch), Funke Opeke (MainOne), Adewale Yusuf (TalentQL), Atinuke Idowu (Termii), Tomie Balogun (Twelve Inc.), Cynthia Alabi, and Nubi Kay (Paystack).

The MTN Cloud Accelerator Demo Day showcased innovative solutions across fintech, sustainability, logistics, health, agriculture, cybersecurity, and more, reaffirming MTN’s commitment to driving Africa’s digital and entrepreneurial growth.

The keenly contested award was jointly presented to him by the Regional Managing Partner, EY West Africa, Anthony Oputa and Nigeria’s Honourable Minister for Trade and Investment, Otunba Adeniyi Adebayo, at a prestigious gala which took place in Lagos on Thursday, March 16, 2023.

Elegbe was awarded for his laudable contributions as an entrepreneur, to the economic development of Nigeria and the West African region, having distinguished himself in business leadership and technology development.

This latest win is particularly significant as it follows his emergence as the Ernst and Young Entrepreneur of the Year (Emerging Entrepreneur category) 11 years ago, in 2012.

The EY Entrepreneur of the Year Awards programme celebrates successful entrepreneurs who have combined ingenuity, hard work and perseverance to create and sustain successful growing businesses. The programme, a yearly global event, has enjoyed international recognition for over 30 years.

The inaugural edition in West Africa took place in 2011 and the programme has since then awarded several worthy Nigerians including Alhaji Aliko Dangote, President, Dangote Group; Aigboje Aig-Imoukhuede, past Group Managing Director, Access Bank and Dr. Cosmas Maduka of Coscharis Group.

The recognition automatically qualifies Mitchell Elegbe to contest in the Ernst & Young World Entrepreneur of the year 2023 to be hosted in Monte Carlo, Monaco.

Speaking concerning the award, Elegbe, who expressed gratitude to the programme organisers, said “I am indeed humbled to have been honoured with this award and I express my heartfelt gratitude to the panel of judges and to Ernst and Young West Africa for providing this platform that acknowledges and celebrates entrepreneurs in the region.”

He said: “A founder is only as effective as the team around him or her, and so this award is a reflection of the hard work and dedication of the team at Interswitch who have dedicated themselves to creating solutions that enable individuals and communities prosper across Africa. This recognition will serve to further entrench our commitment to never stop pushing the boundaries of innovation in a bid to create an Africa where payments are a seamless part of everyday life.”

Mitchell Elegbe is a multiple award-winning professional and a renowned business leader in the Information Technology and Financial Services industry and is recognised for driving revolutionary payment innovation in Africa.

He has won several awards, some of which include Harvard Business School Association (Nigeria) Leadership Award in the General Management Category; African Banker Awards 2019 as the African Banker Icon; CNBC/Forbes All African Business Leader (AABLA) Awards for West Africa as well as Financial Technology (Fintech) Africa Awards, Payments and Transfer category in 2016, among other deserving recognitions.

Mitchell Elegbe founded Interswitch in 2002 to provide a solution to problems associated with payments in Nigeria.

Since then, the company has grown to be a leading payment and digital commerce company that helps to build and manage payment infrastructure and provides robust technology-based solutions to individuals, financial institutions, and governments across Africa.