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From Lukman Olabiyi
The MTN Foundation, in partnership with the Bank of Industry (BOI), has launched the third phase of women empowerment initiative, Y’ellopreneur 3.0, to tackle the persistent financing challenges faced by female entrepreneurs in Nigeria.
The new phase introduces a N1 billion matching fund designed to provide capacity building, business training, and access to equipment loans for women-led micro and small enterprises across the country.
The initiative seeks to address key barriers confronting women in business, including limited access to credit, lack of collateral, and poor documentation, which often hinder their ability to scale operations.
Executive Director, MTN Foundation, Odunayo Sanya, said at the launch on Tuesday in Lagos: “The programme is part of a broader goal to strengthen 30,000 female entrepreneurs and unlock funding for 10,000 women-led businesses by 2030.
“A major component of Y’ellopreneur 3.0 is the ‘Train-to-Fund’ model, under which 1,000 women will undergo a four-week virtual training programme focused on entrepreneurship, record-keeping, and business growth, facilitated by the Enterprise Development Centre.
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Sanya added that top-performing participants particularly the top 200 businesses will be eligible for equipment loans of up to N5 million, with opportunities to access grants upon successful repayment.
She noted that the programme targets women-led businesses that have been in operation for at least two years, with priority given to sectors such as agriculture, manufacturing, ICT, and processing.
Chairman, MTN Nigeria Foundation, Mosun Belo-Olusoga, said the initiative builds on the success of previous phases, which have trained over 5,700 women and facilitated more than N304 million in loans for 122 female entrepreneurs: “The application portal is now open to women entrepreneurs across various sectors, offering them an opportunity to benefit from the programme.”
Managing Director, BOI, Olasupo Olusi, described the initiative as critical to integrating women at the base of the economic pyramid into the formal financial system, thereby promoting sustainable growth and economic resilience.
Represented by Oluwatoyin Ahmed Edu, Olusi said the programme is structured as a pilot to test and refine financing models that best support women entrepreneurs.
The launch also featured a panel discussion moderated by Ebun Ejirinde-Emelogu, with contributions from Oreoluwa Finnih-Awokoya, Adesola Ogunleye, and Hansatu Adegbite.
