KEY POINTS
- The Bank of Industry (BoI) and MTN Nigeria Foundation have partnered to launch a N1 billion matching fund specifically for women-owned businesses.
- Under the Y’ellopreneur 3.0 initiative, 1,000 women will receive entrepreneurship training, while 200 selected businesses will access loans of up to N5 million each.
- The fund is designed to provide equipment financing and working capital for female-led businesses in sectors such as agro-processing, manufacturing, and digital services.
- This initiative marks a significant scaling of the partnership, which has grown from a N100 million programme in 2018 to its current N1 billion capacity.
MAIN STORY
The Bank of Industry and the MTN Nigeria Foundation officially opened the call for applications for the Y’ellopreneur 3.0 Matching Fund on Tuesday in Lagos. Managed by BoI Managing Director Dr. Olasupo Olusi and represented by Mr. Oluwatoyin Edu, the initiative is a 50-50 financed collaboration aimed at bridging the economic gaps that limit women’s participation in industrial-level business.
The programme combines intensive capacity building with direct financial support. Following a five-week training phase conducted by the Pan-Atlantic University Enterprise Development Centre, beneficiaries will develop business growth plans to qualify for funding. The ultimate goal is to enable women to transition from small-scale operations to more robust, industrial-scale enterprises.
Chairman of the MTN Nigeria Foundation, Mrs. Mosun Belo-Olusoga, emphasized that women’s empowerment is now a central pillar of nation-building rather than just a corporate social responsibility project. She highlighted that the fund’s focus on equipment financing is a strategic move to ensure that women have the physical tools necessary to scale their production and compete in sectors like waste management, fashion, and energy.
Lagos State First Lady, Mrs. Ibijoke Sanwo-Olu, commended the initiative, noting that it arrives at a crucial time for tackling unemployment. Since its inception, the programme has already trained over 5,700 women, and the new N1 billion fund is expected to accelerate the foundation’s broader goal of supporting 30,000 female-led businesses over the next five years.
WHAT’S NEXT
- The application portal is now open for women entrepreneurs across Nigeria to submit their business details for the first phase of selection.
- Successful applicants will begin their five-week structured training sessions with the Enterprise Development Centre later this quarter.
- Following the training, the top 200 business plans will be selected for the N5 million equipment and working capital disbursements.
WHAT’S BEING SAID
- “This programme aligns strongly with BoI’s 2025–2027 strategy for enterprise development and economic transformation,” stated Dr. Olasupo Olusi.
- “This fund provides equipment financing, enabling women to transition from small-scale operations to industrial-level businesses,” said Mrs. Mosun Belo-Olusoga.
- “When women are empowered, families thrive, communities prosper, and the economy grows stronger,” noted Mrs. Ibijoke Sanwo-Olu.
BOTTOM LINE
The Bottom Line is that the Y’ellopreneur 3.0 fund turns training into tangible assets. By moving beyond simple workshops and providing millions in matching equipment loans, the BoI and MTN are giving Nigerian women the actual “hardware” required to scale their businesses and contribute significantly to the national GDP.
