MTN Foundation has launched a N1 billion Y’ellopreneur fund to address financing gaps for women-led MSMEs in Nigeria.
The initiative, launched in Lagos on Thursday in partnership with the Bank of Industry (BOI), uniquely combines accessible funding, tailored enterprise development, and ongoing capacity-building support to address the specific challenges faced by women-led MSMEs.
Chairman of the MTN Foundation, Mosun Belo-Olusoga, said the programme had moved beyond basic training to support business expansion.
“We recognise that training alone is no longer enough. This fund is about enabling women to grow into sustainable enterprises,” she said.
1,000 women will receive training, while 200 will access loans of up to N5 million each.
Executive Director of the MTN Foundation, Odunayo Sanya, said the scheme’s integrated approach—blending finance, personalised mentorship, and structured enterprise support—is designed specifically for women-led enterprises aiming for growth.
“Y’ellopreneur 3.0 is structured to build resilient and scalable ventures,” she said.
Executive Director of the Bank of Industry, Oluwatoyin Ahmed, said the focus included agro-processing, manufacturing, renewable energy and digital services.
She added that the partnership would improve access to structured credit for women entrepreneurs facing financing barriers.
Wife of the Lagos State Governor, Dr Ibijoke Sanwo-Olu, said women’s empowerment drives inclusive economic growth.
“When women succeed in business, the impact extends to families and the wider economy,” she said.
MSMEs account for nearly half of Nigeria’s GDP, underscoring the critical role of improved access to finance in driving growth and creating jobs.
The Y’ellopreneur scheme has so far trained over 5,700 entrepreneurs and disbursed more than N301 million in equipment loans.
With targeted funding, mentorship, and training, the new phase of the Y’ellopreneur scheme aims to accelerate the growth of women-led enterprises and drive broader economic advancement across Nigeria.
