The MTN Foundation, in partnership with the Bank of Industry (BOI), has opened applications for the third edition of its Y’ellopreneur programme, a ₦1 billion matching-fund initiative implemented through the Enterprise Development Centre (EDC) of Pan-Atlantic University.
The programme is designed to empower women-led micro, small, and medium enterprises (MSMEs) across Nigeria by providing structured access to financing, capacity development, mentorship, and business advisory support.
Recent insights underscore the urgent need for such interventions: 85% of Nigerian women identify as entrepreneurs, and 90% express intent to start their own businesses. This growing ambition highlights the critical demand for targeted financing and structured support systems to help women-led enterprises scale across multiple sectors.
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, wife of the Lagos State Head of Service, emphasised the transformative potential of the Y’ellopreneur programme.
“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,” Sanwo-Olu said.
“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 BOI is a testament to what we can achieve when the public and private sectors align to champion the African woman.”
Dr. Mosun Olusoga, Chairman of the MTN Foundation, underscored the strategic importance of collaboration in supporting women entrepreneurs and highlighted the significance of the Foundation’s partnership with the Bank of Industry.
“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,” Olusoga stated.
“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 continued: “It is with distinct honour that I 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.”
Representing Dr. Olasupo Olusi, Managing Director and CEO of the Bank of Industry, Oluwatoyin Ahmed Edu—Executive Director, MSME, emphasised BOI’s commitment to gender-focused financing and entrepreneurship development.
“This initiative aligns strongly with BOI’s strategic priority areas: gender balance, MSME growth, financial inclusion, and entrepreneurship development,” Edu noted.
“Today represents more than a financial partnership; it symbolises our collective belief in the power of women to drive inclusive and sustainable economic progress.”
During her presentation, Odunayo Sanya, Executive Director of the MTN Foundation, highlighted the programme’s track record and called for broader industry participation to accelerate support for women-led businesses.
“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,” Sanya remarked.
The launch event featured a market activation at the MTN Nigeria Rooftop Event Centre for past Y’ellopreneurs, alongside a panel session with Dr. Oreoluwa Finnih-Awokoya—Special Adviser to the Lagos State Governor on Sustainable Development Goals (SDGs); Princess Adesola Ogunleye, National President, Country Women Association of Nigeria (COWAN); and Hansatu Adegbite, National Consultant, Private Sector Partnerships, UN Women.
Speaking on the theme “Beyond Empowerment: Building Resilient Women-Led Businesses in Nigeria’s Emerging Economy,” the panel highlighted the need for strengthened support systems, improved access to financing, and enabling policies that empower women entrepreneurs to scale sustainably.
Applications are now open to women entrepreneurs across sectors including agriculture, energy, trading, fashion, ICT and digital services, waste management, recycling, food processing, and manufacturing in Nigeria.
Interested candidates can apply via: www.mtn.ng/foundation/yellopreneur/
