AfriPulse
LAGOS (SUNDIATA POST) – The MTN Foundation has unveiled a N1 billion Y’ellopreneur fund to tackle financing gaps affecting women-led MSMEs in Nigeria.
The initiative, launched in Lagos on Thursday with the Bank of Industry, combines funding with enterprise development and capacity building support.
Chairman of the MTN Foundation, Mosun Belo-Olusoga, said the programme moved beyond basic training to business expansion support.
“We recognise that training alone is no longer enough. This fund is about enabling women to grow into sustainable enterprises,” she said.
Get real-time news updates, interviews and much more. Join our WhatsApp Channel now
The News Agency of Nigeria (NAN) reports that 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 integrates finance, mentorship and structured enterprise support.
“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.
NAN also reports that MSMEs account for nearly half of Nigeria’s GDP, making improved access to finance critical for growth and jobs.
The Y’ellopreneur scheme has so far trained over 5,700 entrepreneurs and disbursed more than N301 million in equipment loans.
The new phase is expected to deepen impact through funding, mentorship and training for women-led enterprises. (NAN)
Post navigation
Source: Sundiatapost.com | Read the Full Story…
