Moderated by Cynthia Chisom, programme manager of the MTN Cloud Accelerator, the panel featured:

• Babalola Oyeleye (Babs), chief strategy & innovation officer, MTN Nigeria
• Victor Asemota, a technology investor and founder, Keita Wealth Advisory (joining remotely)

The conversation explored emerging innovation trends, corporate participation in tech ecosystems, and the evolution of Africa’s investment landscape.

Startups Are Expanding Beyond Fintech

Responding to a question on innovation trends across the continent, Asemota said African founders are increasingly tackling critical gaps in health, logistics, energy, and sustainability.

He cited Trashcoin, a waste-management rewards platform, as an example of the emerging wave of impactful innovation.

“Funding will begin shifting into these new sectors,” he said. “Founders are building where the gaps are clear, and investors will follow the impact.”

Corporates Must Embrace Co-Creation, Not Transactions

Oyeleye emphasized that the traditional corporate–startup relationship, primarily transactional, is no longer sufficient.

“Co-creation is now essential,” he said. “Corporates bring infrastructure, customers and scale. Startups bring innovation and speed. When we build together, we shorten time to market and create real impact.”

He stressed that accelerators serve as outsourced R&D engines, enabling corporates to innovate faster while reducing risk.

MTN’s Evolution: From Vendor-Driven to Innovation-Driven

Reflecting on MTN’s transformation, Asemota noted that the company has made “one of the most significant shifts on the continent.”

“I’ve worked with MTN for over two decades. What I see now is different, they’re backing collaboration with real resources: cloud infrastructure, data centres, partnerships. This is not promise-driven; it’s execution-driven.”

Why Corporates Remain Cautious

Oyeleye pointed out that risk aversion remains a major barrier for many Nigerian corporates.

“When capital is limited, companies choose certainty over experimentation,” he said. “But our demographics and challenges demand deeper involvement.”

He revealed that MTN is already exploring what a more structured investment fund could look like, a natural evolution from accelerators to full corporate investment.

What Must Change in Africa’s Investment Landscape

The panelists agreed on the urgent need to expand corporate involvement in funding and acquisitions.

Asemota noted that in Silicon Valley, corporates drive majority of M&A activity, while African corporates still attempt to build everything internally.

“We need corporates to buy, invest, acquire and partner,” he said. “That’s how mature ecosystems grow.”

He also called for reduced ecosystem fragmentation through unified collaboration across investors, founders, corporates and accelerators.

Oyeleye added that access to corporate assets, especially infrastructure and regulatory support, must become easier for startups.

“Telcos have opened up. Banks and other sectors must do more. Collaboration is the way forward.”

A Call to Action

Moderator Cynthia Chisom closed the session by highlighting that Africa’s innovation future depends on coordinated action across technology builders, regulators, investors and corporates.

The panel concluded with a shared message: Africa must build boldly, invest locally, and collaborate deeply to unlock the next decade of innovation.

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.