MTN Foundation and BOI Launch N5m Financing for Women Entrepreneurs

MTN Foundation and the Bank of Industry (BOI) have initiated the third edition of the Y’ellopreneur initiative to support women-owned businesses in Nigeria. A pitch session was held at the MTN Rooftop Events Centre in Ikoyi, Lagos, following six weeks of intensive training at the Enterprise Development Centre of Pan-Atlantic University.

This training focused on business planning, management, market readiness, and accessing equipment financing. The Y’ellopreneur program aims to assist up to 200 women entrepreneurs with equipment financing of up to N5 million, backed by a N1 billion matching fund financed equally by MTN Foundation and BOI.

The program also offers business advisory support to enhance operations and sustainability. Sandra O. Yoroh, state manager at BOI, stated that the training has equipped participants with essential knowledge for building viable businesses.

The latest edition featured 760 entrepreneurs, with 200 expected to receive financing.