BOI and MTN Foundation Unveil N1 Billion Fund to Empower Women-Led Businesses Across Nigeria
The Bank of Industry (BOI) and MTN Nigeria Foundation have officially launched a substantial N1 billion fund specifically designed to support and empower women-led businesses throughout Nigeria. This significant initiative, announced at a high-profile event in Lagos, operates under the established Y’ellopreneur 3.0 programme and represents a powerful 50:50 partnership between the two major institutions.
Structured Support for Female Entrepreneurs
The core objective of this fund is to provide critical equipment financing for 200 carefully selected women entrepreneurs, enabling them to scale their operations from small-scale ventures into fully-fledged, sustainable businesses. In addition to this direct financial support, the programme incorporates a comprehensive capacity-building component.
A total of 1,000 women entrepreneurs will participate in a structured training programme, which will be expertly delivered by the Pan-African University Enterprise Development Centre. This dual approach of funding and education is crafted to ensure long-term success and business resilience.
Financial Access and Sector Focus
For the 200 women-led Micro, Small, and Medium Enterprises (MSMEs) receiving direct support, the programme offers access to affordable loans of up to N5 million. These funds are intended to facilitate business expansion and operational scaling.
The initiative strategically targets several key economic sectors to maximize impact and foster diverse growth. The focused sectors include:
- Agro-processing
- Light manufacturing
- Fashion and design
- Energy creation and solutions
- Waste management
- Digital services and technology
Leadership Perspectives on Empowerment
Speaking at the launch ceremony, the Executive Director for Micro, Small, and Medium Enterprises at the Bank of Industry, Oluwatoyin Edu, who represented the Managing Director and CEO, Dr. Olasupo Olusi, emphasized the partnership's deeper significance.
"This collaboration reflects our shared and unwavering commitment to advancing entrepreneurship, empowering women comprehensively, and creating tangible opportunities for enterprise growth across every region of Nigeria," Edu stated.
In his remarks, the Chairman of the MTN Foundation, Dr. Mosun Bello, articulated a evolved perspective on corporate support for women. He declared that the foundation has progressed beyond viewing women's empowerment merely as a social good or a checkbox in a Corporate Social Responsibility (CSR) report.
"It is now a cornerstone for genuine nation-building," Bello asserted. "When a woman thrives economically, the circular economy is no longer just a theoretical concept discussed in boardrooms. It becomes a living reality that feeds families, educates children, and fundamentally stabilizes communities."
Acknowledging Persistent Challenges
During a panel discussion held as part of the launch event, participants highlighted the ongoing obstacles faced by women entrepreneurs, despite their notable achievements and exploits in the business landscape. Panellists particularly lamented the persistent challenges confronting women in rural areas.
These challenges were broadly categorized into three critical areas: accessibility to markets and resources, restrictive cultural norms, and systemic barriers. The panellists succinctly summarized the core problems as issues related to power dynamics, equitable resource distribution, and an often unsupportive systemic framework.
The launch of this N1 billion fund marks a major step forward in addressing these very challenges, providing not just capital, but a structured pathway to business growth and economic independence for women across Nigeria.
