What CAC’s new AI portal means for startups and SMEs in Nigeria
- CAC launched an AI-powered registration portal to incorporate businesses within 30 minutes.
- The new system automates critical steps such as name reservation and documentation checks.
- This initiative aims to ease the formalization process for startups and SMEs in Nigeria.
The introduction of the AI-powered registration portal by the CAC is a significant advancement for Nigeria's entrepreneurial ecosystem. However, without addressing the underlying systemic issues, such as high capital requirements and sector-specific licensing, the full potential of this innovation may not be realized. A holistic approach is essential for fostering a more conducive environment for business growth.
