Calabar—In a move to address the chronic funding gap facing Nigeria’s small and medium-scale enterprises (SMEs), StrideVest Ltd., an investment-driven empowerment company, has unveiled a platform to support grassroots businesses through equity-based investments, mentorship, and strategic partnerships NEGROIDHAVEN has garnered.
At a recent press briefing, the leadership of StrideVest—including CEO Wilson Obidi, COO Samuel Nekwu, and other top executives—explained that the company’s mission is to empower viable but underfunded businesses across Nigeria by offering funding in exchange for equity, rather than loans or grants.
“We’re not giving out loans or grants. We are investing—becoming co-owners—so that we can grow with the businesses we believe in,” CEO Obidi said.
Citing research by PwC, Obidi noted that over 41 million SMEs exist in Nigeria, and at least 40% identify access to funding as their biggest challenge. StrideVest aims to close this gap by investing between ₦50,000 and ₦2 million in viable small businesses, particularly those operating at the grassroots level—such as local food vendors, artisans, and roadside service providers.
Not Just Money—Mentorship Too
The company emphasized that funding would be accompanied by mentorship, registration assistance, and capacity-building, helping informal businesses transition into formal, scalable ventures.
“We’ll help businesses register, build corporate identity, and organize their finances. It’s about long-term sustainability,” said Christal Ogar, Chief Legal Officer.
Investment Model: Equity, Not Charity
StrideVest operates as a hybrid between angel investors and incubators, offering flexible equity terms depending on business viability and projected returns. There’s no fixed equity percentage, with each deal negotiated based on the unique value and stage of the business.
“We might take as little as 5% or as much as 30%, depending on the risk and involvement required,” said one of the executives.
Importantly, businesses that don’t qualify for investment will receive constructive feedback on why they weren’t selected, with the option to revise and reapply.
Inclusive and Accessible
While digital registration is a core part of StrideVest’s operations, the team acknowledged Nigeria’s digital divide and announced that physical agents will be deployed to markets and rural areas to identify promising businesses and assist with applications.
“We’re not here just for the polished pitch decks. A roadside fish vendor who has scaled from one employee to four in two years is just as valuable,” said Samuel Daniel, an executive team member.
Partnership Opportunities
Beyond direct investments, StrideVest also offers consultancy services to NGOs, politicians, and development agencies seeking to empower entrepreneurs effectively, with proper monitoring and impact evaluation.
“We’re building a support system that reduces unemployment by helping real businesses grow and create jobs,” the team emphasized.
What’s Next?
StrideVest is rolling out commercial infomercials and an online portal in the coming days to facilitate applications. A registration fee of ₦5,000 will apply, and selected beneficiaries from local communities will be publicly empowered as pilot cases.
As one executive concluded, “We are here to change the narrative—one small business at a time.”
