How MTN And SMEDAN Are Closing Nigeria’s $158bn Funding Gap for 40 Million Small Businesses

Nigeria’s mySMEville platform is becoming a key driver for Africa’s digital economy by closing the financial and skills gaps holding back the country’s nearly 40 million MSMEs.

This was highlighted on Tuesday, May 12, 2026, during a visit hosted by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to the MTN head office by Angola’s INAPEM, the National Institute of Support for Micro, Small and Medium Enterprises.

The delegation was led by its Chairman, Mr. Bráulio Augusto.

The delegation was focused on studying the success of the MTN and SMEDAN mySMEville partnership. The initiative targets four core areas: information, funding, infrastructure, and markets, to support a sector that contributes 48% of Nigeria’s GDP but remains largely underserved.

mySMEville moved quickly from a strategic idea (the MOU was signed in November 2025) to a continental success. After a pilot in Lagos onboarded 200 businesses in December, the platform rapidly grew to include over 2,600 businesses nationwide by May 2026.

This rapid expansion is essential given that 80% of Nigerian SMEs are currently informal and only 3.9% access formal credit, leaving a staggering $158 billion annual financing gap.

Emphasising the strategic necessity of this collaboration, Lynda Saint-Nwafor, Chief Enterprise Business Officer at MTN Nigeria, stated: “Our goal is simple, we want to be the best technology partner out there, helping African businesses grow fast, compete globally, and make a real, lasting impact.”

Supporting this view, Dr Charles Odii, Director-General of SMEDAN, said that the initiative represents the future of business on the continent, asserting that “What we are witnessing here is a formidable force for economic progress. Through this deliberate Public-Private Partnership, Nigeria is aligning its public and private sectors to lead the way for Africa.”

Olatunbosun Agosu, Senior Specialist, ICT Segment Management, MTN Business demonstrated with a live demo, how the mySMEville platform, a joint effort by MTN and SMEDAN, is the “one-stop orchestrator” for Nigeria’s 40 million small businesses.

The platform is an intuitive, centralised platform that bridges the $158 billion funding gap and digital divide. By aggregating diverse partners, it gives entrepreneurs direct access to funding, infrastructure (like solar power), e-commerce tools, and essential growth information.

INAPEM’s Chairman, Mr. Bráulio Augusto, confirmed that Angola intends to adapt the framework to its own economic reality.

Reflecting on the visit, the Chairman stated during his remarks, “The key thing I learned here is the strength of the public and private sector partnership. mySMEville clearly shows what’s possible, and we will absolutely use these insights as we adapt this model back home in Angola.”

Looking ahead, the partnership aims to reach a monumental target of 5 million MSMEs through the mySMEville Academy, e-commerce integrations, and national policy advocacy.

As the platform continues to grow into a “one-stop shop” for resources, it’s clear that Africa’s future depends not on luck, but on the smart, collaborative work of partners like MTN and SMEDAN.