The Bank of Industry (BOI) and MTN Nigeria Foundation have launched the N1 billion Y’ellopreneur 3.0 Matching Fund to expand financing and business development opportunities for women-owned enterprises across Nigeria.

The fund was unveiled in Lagos as part of efforts to increase women’s participation in entrepreneurship, improve access to finance and support the expansion of women-led micro, small and medium-sized enterprises (MSMEs).

Speaking at the launch, BOI Managing Director, Dr Olasupo Olusi, said the initiative demonstrated the shared commitment of both institutions to entrepreneurship development and women’s economic empowerment.

Olusi, who was represented by the Executive Director, MSMEs, Oluwatoyin Edu, explained that the partnership had expanded substantially from a N100 million youth-focused programme introduced in 2018 to the current N1 billion matching fund, with BOI and MTN Nigeria Foundation contributing equally.

“Today, we are pleased to deepen this collaboration with the launch of the N1 billion Y’ellopreneur 3.0 Matching Fund.”

He added that the programme was aligned with BOI’s 2025–2027 strategy, which focuses on enterprise development and economic transformation.

Through the initiative, 1,000 women entrepreneurs will undergo structured business training, while 200 women-led MSMEs will be eligible for loans of up to N5 million each.

The programme will support businesses across several sectors, including agro-processing, light manufacturing, fashion, energy, waste management and digital services. The beneficiaries are expected to use the opportunities to strengthen their operations and expand their businesses.

The Chairman of MTN Nigeria Foundation, Mrs Mosun Belo-Olusoga, said the initiative acknowledged the significant contribution of women to economic development.

She said the Foundation now considers women’s empowerment a critical part of nation-building, rather than viewing it solely as a corporate social responsibility obligation.

Belo-Olusoga disclosed that more than 5,700 women had already been trained through earlier phases of the programme, which is designed to tackle economic barriers restricting women’s participation and growth in business.

“This fund provides equipment financing, enabling women to transition from small-scale operations to industrial-level businesses.”

She also highlighted the need to increase awareness of the programme, especially in rural communities, so women in different locations can have access to the opportunity.

The Executive Director of MTN Nigeria Foundation, Mrs Odunayo Sanya, said the programme brings together capacity building and access to capital to provide women entrepreneurs with a stronger foundation for business expansion.

She disclosed that beneficiaries would undergo a five-week training programme delivered by the Pan-Atlantic University Enterprise Development Centre. Following the training, participants would develop business growth plans.

Sanya said the Foundation aims to build 30,000 female-led businesses over five years, with 10,000 of those businesses expected to receive funding.

“We believe this partnership with BOI opens the door to scaling women-owned businesses through working capital and equipment financing.”

Also speaking, Mrs Ibijoke Sanwo-Olu, wife of the Lagos State Governor, described the initiative as timely, particularly because of its potential to address unemployment and unlock women’s economic potential.

Represented by Mrs Oyinlola Agoro, she said providing women entrepreneurs with relevant skills, mentorship and business planning tools would enable them to establish stronger and more resilient enterprises.

Sanwo-Olu commended earlier phases of the programme, which trained more than 5,700 women and provided equipment support to 122 beneficiaries.

“This shows that when women are empowered, families thrive, communities prosper and the economy grows stronger.”

She said the new N1 billion matching fund would further strengthen financial inclusion and support the expansion of women-led enterprises across Nigeria.

Sanwo-Olu also reaffirmed her commitment to initiatives focused on women’s empowerment, economic independence and inclusive development.

The Y’ellopreneur 3.0 Matching Fund marks a significant expansion of the partnership between BOI and MTN Nigeria Foundation. The initiative combines entrepreneurship training, mentorship, equipment financing and access to capital to help more women-owned businesses progress from small-scale operations to sustainable and scalable enterprises.

Source: MSME Africa Online