Grow Enterprise Africa (GEA) has selected more than 40 small and medium-sized businesses from more than 550 applications for the inaugural edition of its SME Accelerator, an eight-week programme designed to strengthen business operations, support market expansion and improve investment readiness.

The GEA SME Accelerator 2026 was officially launched on September 19 at The Good House in Lagos, where participating entrepreneurs met with faculty members, partners and other members of the business community.

The selected businesses come from 14 states and the Federal Capital Territory, with participants drawn from Lagos, Kaduna, Akwa Ibom, Taraba, Abuja, Kano, Adamawa, Kwara, Kebbi and Oyo, among other locations.

According to GEA, agriculture accounts for the largest share of the cohort. Many of the participating businesses have operated for between five and 10 years, while their workforces average approximately four to eight employees.

The organisation said the accelerator was established to tackle structural challenges that often prevent small businesses from progressing beyond their early stages, even when they have viable products or services.

Throughout the eight-week programme, participating founders will focus on management, governance, marketing, sales and finance. The sessions are intended to help entrepreneurs identify weaknesses within their businesses and introduce more structured approaches to growth.

Speaking at the launch, GEA founder Remi Ademiju said stronger SMEs could contribute to broader economic development by helping entrepreneurs establish more sustainable businesses.

“A thriving SME sector is the bedrock of a prosperous society. Entrepreneurs play a vital role in driving economic development, and their growth directly shapes the socio-economic advancement of our communities,” Ademiju said.

“At GEA, our purpose is to bridge critical growth gaps. Through the SME Accelerator, we are equipping founders with the structure, insight, network and access to finance and markets needed to scale sustainably and contribute meaningfully to the economy.”

The accelerator is structured around five areas of business development: People and Leadership; Legal and Governance; Marketing and Brand Visibility; Sales and Market Growth; and Finance and Capital Readiness.

Participants will take part in practical training, assignments, mentorship and peer-learning sessions, while also engaging with professionals from various areas of business.

GEA said the curriculum is designed around three broad outcomes: improving businesses’ preparedness for external investment and finance, strengthening sales and market access, and helping founders develop more effective internal systems and management practices.

Participation in the programme does not itself guarantee funding or investment. GEA said its role is to improve the readiness of participating businesses before connecting suitable companies with potential sources of capital and other opportunities.

The accelerator’s faculty comprises professionals with experience across human resources, corporate governance, finance, marketing and commercial strategy.

They include Goodness Armstrong, founder of StartupHR Africa and former HR Business Partner at Microsoft; Rosemond Phil-Othihiwa, Chairperson of the Corporate Governance and Compliance Committee of the Nigerian Bar Association Section on Business Law; and Florence Damilola Olatunbosun, co-founder of SME financial management service Akkant.

Other faculty members include Victor Bella, founder of marketing company Socialander, and Lolia Kienka, who is facilitating the accelerator’s sales component.

Kienka said many of the participating founders already have products and ambition but require more consistent systems to turn opportunities into sales.

“These founders are not short of ambition or of good products. What most of them are missing is a repeatable sales process,” she said.

“My sessions will focus on building one: knowing who is worth chasing, and what happens next every single time.”

According to Kienka, questions raised by participants during the opening sessions indicated that many entrepreneurs were seeking practical business structures rather than motivational instruction.

“These entrepreneurs are not looking for motivation; they are looking for structure. That is precisely what a well-run accelerator should give them,” Kienka added.

Some entrepreneurs participating in the accelerator said they joined the programme to strengthen their businesses and expand their networks.

Joyce Folaranmi, founder of Agro Haven, said the programme’s opening sessions had already provided useful insights.

“I’m quite excited about the programme. The few sessions we had have been insightful. The facilitators know their onions, and they’ve been able to pass down that knowledge as well,” Folaranmi said.

“I’m looking forward to learning more, connecting with other builders, and taking advantage of all the programme has to offer.”

Paul James Eteudo, founder of Vegituber Farms Limited, described the launch as interactive and said he expected the programme to create opportunities for new commercial relationships.

“It was an interactive and engaging experience. I loved the intimacy of the gathering. It gave room for everyone to be seen and heard,” Eteudo said.

“My team and I look forward to getting more market access, funding opportunities, amongst other collaborations that will be profitable for our enterprise.”

Beyond the accelerator

GEA said its engagement with the participating businesses will continue after the formal eight-week curriculum ends.

The organisation plans to build relationships with corporate organisations, development finance institutions, banks and other financial institutions, as well as angel investors that could potentially support businesses emerging from the programme.

The strategy also includes developing a pipeline of SMEs whose governance, financial management and operational structures have been strengthened enough to engage potential investors or lenders.

The longer-term impact of the accelerator will be reflected in what happens to participating businesses after the training, with indicators such as revenue growth, jobs created, new markets entered, capital raised and business survival providing measures of the programme’s impact beyond completion of the eight-week curriculum.

GEA describes itself as an SME support organisation that provides practical business education, mentorship, access to professional networks and opportunities.

With its first accelerator cohort now underway, the organisation is seeking to address a challenge faced by Nigerian entrepreneurs: moving from operating a viable business to developing the structures, processes and commercial relationships needed for sustainable growth.

Source: The Guardian