MTN Foundation and Bank of Industry launch N1bn Women Entrepreneurs Fund to support 200 women in scaling their businesses across Nigeria

MTN Foundation and the Bank of Industry (BOI) have unveiled a N1 billion matching fund aimed at supporting women entrepreneurs across Nigeria. The announcement was made during the launch of the BOI–MTN Foundation Y’ellopreneur 3.0 Matching Fund in Lagos on Tuesday.

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MTN Foundation Chairman Mosun Belo-Olusoga said the initiative is designed to provide equipment financing for 200 women, enabling them to expand from small-scale operations to industrial-level businesses.

She highlighted that women’s empowerment is no longer just a social goal but a cornerstone for national development.

“It is often said that the great barometer of Nigeria’s economic health isn’t found on the stock exchange tickers. More often, it resides in the grit and sheer determination of a Nigerian woman turning business into a huge enterprise,” Belo-Olusoga stated.

Representing BOI Managing Director Olasupo Olusi, Oluwatoyin Edu emphasised that the fund reflects a shared commitment to advancing entrepreneurship and creating opportunities for enterprise growth.

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He noted that both organisations have previously collaborated on programmes including the Youth Entrepreneurship Development Programme in 2018 and Y’ellopreneur Programme in 2022.

The fund will be jointly financed on a 50:50 basis by MTN Foundation and BOI. Applicants across the country are encouraged to participate to benefit from this empowerment initiative.