The MTN Nigeria Foundation has announced a N600 million investment in the second phase of its Y’ellopreneur initiative, aimed at empowering women and reducing female unemployment in Nigeria.
This initiative focuses on advancing women’s development in entrepreneurship by providing capacity-building, access to loans, grants, and advisory support services for sustainable business growth. It targets female entrepreneurs across Nigeria who demonstrate passion and commitment to self-employment, particularly in sectors like circular economy, manufacturing, agriculture, ICT/digital services, and waste management, with an emphasis on locally sourced raw materials.
Odunayo Sanya, the Executive Director of MTN Nigeria Foundation, highlighted the importance of addressing gender inequality to combat hunger and poverty. She emphasized that promoting women’s involvement in entrepreneurship and business management can generate income for families and contribute to Nigeria’s socioeconomic development.
The Y’ellopreneur initiative aligns with the federal government’s development agenda and aims to achieve Sustainable Development Goals (SDGs) 1, 2, 3, 5, 8, and 17. In its first phase, the initiative empowered 4,711 female entrepreneurs, facilitated business pitch sessions, and disbursed equipment loans totaling over N94 million to 50 Y’ellopreneurs, with 25% refunded as grants upon full repayment.
In the second phase, the initiative will provide 5-week online entrepreneurial skills and masterclass training for 1,000 female entrepreneurs. MTN is investing N600 million, with N450 million available for 150 qualified Y’ellopreneurs to access as equipment loans. Upon full repayment, N112.5 million will be refunded as grants to the beneficiaries.
The initiative received praise from Mrs. Bolaji Dada, the Lagos State Commissioner for Women Affairs and Poverty Alleviation, who commended its role in addressing women unemployment and poverty in the state. She encouraged female entrepreneurs to apply for the second phase of the initiative.
Mrs. Aishatu Sadauki, a Director at MTN Nigeria Foundation, emphasized the importance of empowering women for socioeconomic development. She highlighted the gender gap in entrepreneurship and labor market participation and underscored the Y’ellopreneur Initiative’s role in providing resources to support female entrepreneurs and enhance their entrepreneurial skills.
