MTN Foundation, BOI unveil ₦1bn fund to power Women entrepreneurs nationwide
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“At the MTN Foundation, we have moved far beyond the era of viewing women’s empowerment as ‘social good’ or a checkbox in a CSR report. We see it as a cornerstone for nation-building. Because when a woman thrives, the circular economy is no longer a theoretical concept. It becomes a reality that feeds families, educates children, and stabilises communities,” she said.
The MTN Foundation, in partnership with the Bank of Industry (BOI), has unveiled applications for the third edition of its Y’ellopreneur programme, a ₦1 billion matching fund initiative aimed at supporting women-led businesses across Nigeria.
The initiative, implemented through the Enterprise Development Centre (EDC) of Pan-Atlantic University, is designed to strengthen micro, small and medium enterprises (MSMEs) owned by women by providing access to financing, capacity building, mentorship and business advisory services.
The 2026 edition focuses on helping women entrepreneurs scale their operations amid growing evidence of strong female participation in business. Recent data indicates that 85 per cent of Nigerian women identify as entrepreneurs, while 90 per cent express interest in starting their own ventures, figures that organisers say reinforce the need for targeted support.
Speaking at a media parley held at MTN headquarters in Lagos, the First Lady of Lagos State, Dr Ibijoke Sanwo-Olu, represented by Mrs Oyinlola Agoro, said initiatives like Y’ellopreneur are critical to driving inclusive economic growth.
“The Lagos state administration remains deeply committed to initiatives that transition our women from the margins of the economy to the mainstream of industrial growth. I am immensely proud of the past Y’ellopreneurs who have stepped up to transform their skills into scalable enterprises. This partnership with MTN and the BOI is a testament to what we can achieve when the public and private sectors align to champion the African woman,” she said.
Chairman of MTN Foundation, Dr Mosun Olusoga, said the programme reflects a shift from viewing women’s empowerment as a social obligation to recognising it as a driver of economic development.
“At the MTN Foundation, we have moved far beyond the era of viewing women’s empowerment as ‘social good’ or a checkbox in a CSR report. We see it as a cornerstone for nation-building. Because when a woman thrives, the circular economy is no longer a theoretical concept. It becomes a reality that feeds families, educates children, and stabilises communities,” she said.
She added: “It is with my distinct honour to announce our partnership with the Bank of Industry as we launch the MTN x BOI Y’ellopreneur 3.0 Matching Fund, a ₦1 billion intervention. This fund is specifically designed to provide equipment financing for 200 deserving women, enabling them to transition from small-scale operations to industrial-strength businesses. We are looking for innovators, disruptors, and builders—women who are ready to take their seat at the table of the digital economy.”
Also speaking, the Executive Director, MSME at BOI, Oluwatoyin Ahmed Edu, who represented the bank’s Managing Director and Chief Executive Officer, Dr Olasupo Olusi, said the partnership aligns with the bank’s strategic priorities.
“This initiative aligns strongly with BOI’s strategic priority areas: gender balance, MSME growth, financial inclusion, and entrepreneurship development. Today represents more than a financial partnership; it symbolizes our collective belief in the power of women to drive inclusive and sustainable economic progress,” he said.
Executive Director of MTN Foundation, Odunayo Sanya, said the programme is structured to deliver measurable economic impact.
“Y’ellopreneur 3.0 is designed to deliver measurable impact by equipping women with the skills, networks, and financial support required to grow resilient businesses that contribute meaningfully to Nigeria’s economy,” she said.
The launch also featured a market activation session for previous beneficiaries and a panel discussion on building resilient women-led enterprises in Nigeria’s emerging economy. Participants stressed the need for improved access to finance, stronger support systems and policies that enable sustainable growth.
Applications are open to women entrepreneurs in sectors such as agriculture, energy, ICT, fashion, trading, waste management, food processing and manufacturing.
MTN Nigeria, part of the MTN Group, currently connects over 87.3 million subscribers nationwide and continues to position itself as a key player in advancing digital and economic inclusion across Africa.
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