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By Lukman Olabiyi
The MTN Foundation, in partnership with the Bank of Industry (BOI), has launched the third phase of its flagship women empowerment initiative, Y’ellopreneur 3.0, aimed at tackling the persistent financing challenges faced by female entrepreneurs in Nigeria.
The new phase introduces a ₦1 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.
L–R: Pastor Simon Aranonu, Director, MTN Foundation; Mrs. Oyinlola Agoro, wife of the Lagos State Head of Service (representative of Her Excellency, Dr. (Mrs.) Ibijoke Sanwo-Olu, First Lady of Lagos State); Dr. Mosun Belo-Olusoga, Chairman, MTN Foundation; Mr. Oluwatoyin Ahmed Edu, Executive Director, Micro, Small and Medium Enterprises (MSME), Bank of Industry Limited; and Victoria Udeme, Founder of The Victoria King and a recipient of the Y’ellopreneur Initiative, during the launch of the MTN Foundation Y’ellopreneur 3.0 held at MTN Rooftop Plaza on Tuesday, March 17, 2026.
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.
Speaking at the launch held in Lagos, Executive Director of the MTN Foundation, Odunayo Sanya, said 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.
She explained that 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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Hansatu Adegbite, National Consultant, Private Sector Partnerships, UN Women; Dr. Oreoluwa Finnih-Awokoya, Special Adviser to the Lagos State Governor on Sustainable Development Goals (SDGs); Odunayo Sanya, Executive Director, MTN Foundation; Oluwatoyin Ahmed Edu, Executive Director, Micro, Small & Medium Enterprises (MSME), Bank of Industry Limited; Princess Adesola Ogunleye, National President, Country Women Association of Nigeria (COWAN)and Mrs. Ebun Ejirinde-Emelogu, Group Executive Director, Dixon & Ricks Consulting during a panel session at the Y’ellopreneur 3.0 media parley held at the MTN Rooftop Plaza on Tuesday, March 17, 2026.
Sanya added that top-performing participants particularly the top 200 businesses will be eligible for equipment loans of up to ₦5 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 of 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 ₦304 million in loans for 122 female entrepreneurs.
According to her, the application portal is now open to women entrepreneurs across various sectors, offering them an opportunity to benefit from the programme.
Also speaking, Managing Director/Chief Executive Officer of 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.
The Y’ellopreneur 3.0 programme is expected to expand support for women entrepreneurs, fostering a more inclusive and resilient business environment across Nigeria.
