MTN Foundation and the Bank of Industry (BOI) have launched the third edition of the Y'ellopreneur initiative, offering up to N5 million in equipment financing to 200 women entrepreneurs in Nigeria. The programme, backed by a N1 billion matching fund, aims to strengthen women-owned businesses through a combination of business training, pitching, advisory support, and access to finance.
Pitch Session and Training Programme
The organisations held a pitch session for female entrepreneurs participating in the programme at the MTN Rooftop Events Centre in Ikoyi, Lagos. The pitch followed six weeks of intensive training at the Enterprise Development Centre of Pan-Atlantic University. The training focused on business planning, management, market readiness, and preparing participants to access equipment financing.
The latest edition featured 760 entrepreneurs during the pitch session, with up to 200 women expected to receive equipment financing of up to N5 million each. The fund is jointly financed on a 50:50 basis by MTN Foundation and BOI.
Eligibility and Sector Focus
Eligible women-led micro, small, and medium-sized enterprises can access equipment financing of up to N5 million. The programme is also designed to provide participants with business advisory support to help them improve their operations and build sustainable enterprises.
The entrepreneurs operate across sectors including agro-processing, light manufacturing, fashion, energy, waste management, and digital services.
BOI Explains Benefits of Training
Sandra O. Yoroh, state manager at BOI, said the training had helped participants understand the importance of having a properly structured business. She said the programme had given the entrepreneurs a better understanding of what they need to build viable businesses.
Yoroh said: “They understand what they need to have a structure in the business and what it means for a business to be properly structured.” According to her, BOI will provide business advisory services and assess the businesses presented by participants during the pitch session. She added that the partnership was focused on helping women develop sustainable enterprises.
Key Features of Y’ellopreneur 3.0
- N1 billion matching fund established by MTN Foundation and BOI
- Up to N5 million equipment financing available to eligible businesses
- Up to 200 women entrepreneurs targeted for financing
- Six weeks of intensive business training
- Business advisory support from BOI
- Pitching opportunities for participating entrepreneurs
- Focus on sectors including agriculture, manufacturing, fashion, energy, waste management, and digital services
Y’ellopreneur 3.0 seeks to address part of this gap by combining access to finance with business training and advisory services, with the latest edition featuring 760 entrepreneurs during the pitch session and up to 200 women expected to receive equipment financing.
