Business · Companies · 4 hrs ago
Kuramo launches accelerator for Nigerian small-business fund managers
Kuramo launched a fund-manager accelerator in Lagos for people seeking to finance Nigerian small businesses.
The programme selected 22 emerging managers from 84 applicants across Nigeria’s six geopolitical zones.
Over 12 weeks, participants will work on investment plans, financial modelling, fundraising, legal structures and other skills needed to run a fund.
The Wholesale Impact Investment Fund aims to raise $1 billion to support small businesses, but plans to start with a $100 million first series and has not yet reached its first close.
It will invest in funds that then finance businesses, rather than lending to companies directly.
Nigeria has about 39.7 million micro, small and medium enterprises, which faced an estimated $32.2 billion financing gap in 2022.
Kuramo says success could mean two cohort funds secure backing, either from WIIF or other investors.
The Kuramo Foundation for Sustainable Development launched the WIIF SME Fund Accelerator in Lagos on October 30.
The 12-week programme enrolled 22 emerging fund managers selected from 84 applicants across Nigeria’s six geopolitical zones.
The accelerator aims to prepare managers to raise and manage funds for Nigerian small businesses.
The Wholesale Impact Investment Fund is a naira-denominated fund targeting $1 billion and plans to make a $100 million first close, which it has not yet reached.
WIIF invests in funds that finance small businesses rather than investing in businesses directly.
- Who
- The Kuramo Foundation for Sustainable Development launched the accelerator. It is for first-time and emerging fund managers.
- What
- The WIIF SME Fund Accelerator is a 12-week training programme for managers of funds serving small businesses.
- When
- It launched on October 30. The year is not stated.
- Where
- Lagos, Nigeria.
- Why
- To prepare managers to raise and manage funds for Nigerian small businesses.
This story does not have two clearly opposing sides.
Nigeria’s Federal Ministry of Finance announced that the government would commit $50 million to WIIF.
The Kuramo Foundation for Sustainable Development launched the accelerator in Lagos and enrolled 22 managers selected from 84 applicants.
- Cohort
- 22 managers selected from 84 applicants
- Programme length
- 12 weeks
- WIIF target
- $1 billion
- Planned first close
- $100 million; not yet reached
- Government commitment
- $50 million announced in June 2025
What people are saying
We have not made a first close yet.
Capital deployed into managers who are not yet investment-ready does not create durable results.