Prime Highlights
- MTN Foundation and Bank of Industry signed an MoU to establish a N1 billion Matching Fundto expand financial access for women-led micro enterprises.
- The initiative aims to unlock funding for 10,000 women-owned businessesand build capacity for 30,000 female-led businesses by 2030.
Key Facts
- The fund operates under the Y’ellopreneur 3.0 programmeand combines financial support with structured training and mentorship.
- The pilot programme will train about 1,000 women in record-keeping, growth management, and competitiveness, targeting those excluded from traditional finance.
Background
The MTN Foundation and the Bank of Industry have signed a memorandum of understanding to establish a N1bn Matching Fund aimed at expanding access to finance for women-led micro enterprises across Nigeria.
The institutions announced that the fund, launched under the Y’ellopreneur 3.0 programme, will operate as a pilot scheme. It seeks to support women running viable businesses who often struggle to access formal loans due to strict collateral and documentation requirements.
Speaking at the signing ceremony in Lagos, Executive Director of MTN Foundation, Odunayo Sanya, said the renewed partnership builds on earlier pilot phases that helped both organisations improve their approach to supporting women entrepreneurs. She stated that the foundation plans to build capacity for 30,000 female-led businesses by 2030, up from nearly 6,000 already supported. Through the new partnership, the institutions also aim to unlock funding access for 10,000 women-owned enterprises.
Sanya explained that the initiative will combine financial support with structured training and mentorship. She described the programme as a model for broader public-private collaboration to unlock more capital for small businesses and drive inclusive growth.
Managing Director and Chief Executive Officer of the Bank of Industry, Dr Olasupo Olusi, said the initiative focuses on women operating at the base of the economic pyramid. He noted that many women manage active businesses in markets and communities but remain excluded from structured finance because traditional lending systems require formal records and collateral.
Olusi said the pilot will test and refine a funding model designed specifically for women entrepreneurs who need affordable credit the most. Beyond loans, the programme will provide business development support and train about 1,000 women in record-keeping, growth management and competitiveness.
Both institutions said they will focus on transparency, sustainability and measurable results to ensure the programme delivers lasting impact and can be expanded nationwide.
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