Niteon beat Brazilian food giant to win UN sustainable Enterprise Accelerator Fund

The United Nations recently opened its latest funding round for enterprises focused on sustainable economic development, attracting a shortlist of notable participants from emerging markets. Among them was Niteon, a four-arm trade and finance ecosystem based in Lagos, Nigeria. Despite facing competition from larger, more established Latin American companies, Niteon emerged victorious, securing a $400,000 funding grant from UNSEAF.

Niteon's founder and CEO, Tony Nwose, emphasized that this victory validates his years-long vision that Africa's trade infrastructure doesn't require imported solutions but should be developed natively by those who understand the local challenges. Niteon is not a standalone product but an entire ecosystem, with its core being a B2B marketplace, "The African Trade Center," connecting over 19,000 suppliers to buyers across various industries.

This platform has facilitated more than $11 million in sales and moved over a million products to international buyers. The ecosystem also includes three additional arms addressing different aspects of the trade puzzle. Nwose explained that the ecosystem approach was a crucial factor in UNSEAF's selection process, as the funders are now focusing on African trade and fintech infrastructure growth.

The $400,000 grant will be used for expanding Niteon's lending book, scaling logistics into new corridors, and enhancing data coverage through AI technology. The funding announcement comes at a time when investors are paying close attention to Africa's supply chain modernization.