The MTN Foundation, in partnership with the Bank of Industry, has launched a ₦1 billion matching fund under the third edition of its Y’ellopreneur programme to support women-led businesses across Nigeria, with a focus on driving inclusive and sustainable economic growth.
The initiative, implemented by the Enterprise Development Centre, will provide financing, capacity building, mentorship and business advisory services to women-owned micro, small and medium enterprises (MSMEs), particularly in sectors critical to sustainability such as agriculture, energy, waste management and manufacturing.
Speaking at the launch event in Lagos, representatives of the Lagos State Government said targeted investments in women entrepreneurs are essential to expanding economic participation and strengthening resilience across communities. The First Lady of Lagos State, Dr Ibijoke Sanwo-Olu, represented by Mrs Oyinlola Agoro, noted that the programme aligns with broader efforts to integrate women more fully into the state’s industrial and economic development agenda.
Chairman of the MTN Foundation, Dr Mosun Olusoga, said the programme reflects a growing recognition of women’s economic participation as a catalyst for sustainable development rather than a corporate social responsibility obligation. She said the fund will support 200 women with equipment financing to help scale their businesses from small-scale operations to more industrial levels.
According to her, empowering women entrepreneurs has a multiplier effect on households and local economies, contributing to improved livelihoods, education outcomes and community stability—key pillars of sustainable development.
Also speaking, the Executive Director for MSMEs at the Bank of Industry, Oluwatoyin Ahmed Edu, said the partnership reinforces the bank’s focus on gender inclusion, financial access and enterprise development. He described the initiative as a strategic intervention to unlock the economic potential of women while supporting broader national goals around inclusive growth.
Executive Director of the MTN Foundation, Odunayo Sanya, said the programme is structured to deliver measurable impact by equipping participants with the skills, networks and financing required to build resilient businesses capable of withstanding economic shocks.
The 2026 edition comes amid data highlighting the strong presence of women in Nigeria’s entrepreneurial landscape, with a significant proportion either running businesses or expressing interest in starting one. Stakeholders at the event said this underscores the urgency of addressing structural barriers such as access to finance and market opportunities.
The launch also featured engagements with previous beneficiaries and discussions on strengthening women-led enterprises within Nigeria’s evolving economic environment, with emphasis on sustainability, innovation and long-term business viability.
Applications for the programme are open to women entrepreneurs nationwide across multiple sectors, including ICT, fashion, food processing and trading, as part of ongoing efforts to deepen economic inclusion and support sustainable enterprise development.
