MTN Foundation and the Bank of Industry (BOI) have announced a N1 billion matching fund in partnership with the Bank of Industry to support women entrepreneurs.
The fund was unveiled on Tuesday in Lagos during the launch of the BOI–MTN Foundation Y’ellopreneur 3.0 Matching Fund.
Chairman of MTN Foundation Mosun Belo-Olusoga, said the initiative is aimed at supporting women to grow their businesses through equipment financing.
She said the fund will provide support for 200 women to expand their operations.
“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,” she said.
Mrs Belo-Olusoga said the foundation now sees women’s empowerment as part of national development.
“At the MTN Foundation, we have moved far beyond the era of women’s empowerment as social goods or checkboxes on a CSR report. We see it as a cornerstone for nation-building,” she said.
Announcing the fund, she said, “This is a N1bn intervention fund designed to provide equipment financing for 200 women, enabling them to transition from small-scale operations to industrial-level businesses.”
She called for awareness of the programme across the country and urged women to apply.
Managing Director of the Bank of Industry Olasupo Olusi who was represented by Oluwatoyin Edu, said the partnership reflects a shared plan to support women-led businesses.
“The partnership between the Bank of Industry and the MTN Nigeria Foundation reflects a shared commitment to advancing entrepreneurship, empowering women, and creating opportunities for enterprise growth across Nigeria,” he said.
Mr Olusi said both organisations have worked together on previous programmes, including the Youth Entrepreneurship Development Programme in 2018 and the Y’ellopreneur Programme in 2022.
He said the new fund is jointly financed by both institutions.
“Today, we are pleased to deepen this collaboration with the launch of the N1bn Y’ellopreneur 3.0 Matching Fund, jointly funded by both institutions on a 50:50 basis,” he added.
