The MTN Foundation and the Bank of Industry (BOI) have partnered to establish a N1 billion Matching Fund aimed at expanding access to finance and capacity-building support for women-led microenterprises across Nigeria. This initiative, operating under the Y’ellopreneur 3.0 programme, is designed to reach women who run viable businesses but are often excluded from formal credit due to collateral and documentation requirements.
Speaking at the signing ceremony in Lagos, MTN Foundation Executive Director Odunayo Sanya highlighted that the renewed partnership builds on previous pilot phases, which helped refine the approach and scale impact in supporting women-led businesses. The new phase targets faster and more measurable outcomes, aiming to build capacity for 30,000 female-led enterprises by 2030, up from nearly 6,000 reached so far, while providing access to capital for 10,000 women-owned businesses through the collaboration with BOI. Sanya emphasized that combining training, mentorship, and financing, the programme could serve as a blueprint for broader public–private cooperation in unlocking new sources of capital for enterprise development and inclusive growth in Nigeria.
BOI Managing Director and CEO Dr. Olasupo Olusi noted that the partnership focuses on women operating viable businesses at the base of the economic pyramid who remain excluded from structured finance. He explained that women sustain a significant portion of micro-businesses and contribute to household income and local economic activity, yet traditional lending models often do not reflect the realities of their businesses. The initiative aims to bridge this financing gap with a tailored model that can be tested, refined, and sustainably expanded over time.
Beyond credit provision, the programme incorporates capacity building, business development support, and mentorship. Olusi shared plans to train around 1,000 women entrepreneurs in areas such as record-keeping, growth management, and competitiveness. He emphasized that strengthening microenterprises contributes to productivity, stabilizes incomes, and enhances broader economic resilience. Both MTN Foundation and BOI are committed to ensuring transparency, sustainability, and measurable outcomes to create a replicable model for supporting women entrepreneurs nationwide.
