The Bank of Industry and the MTN Foundation have unveiled a N1 billion matching fund to empower female entrepreneurs, focusing on equipment financing to help 200 women scale their businesses.
The fund was launched at the official unveiling of the BOI–MTN Foundation Y’ellopreneur 3.0 Matching Fund in Lagos on Tuesday. Chairman of the MTN Foundation, Dr Mosun Belo-Olusoga, said the initiative goes beyond traditional empowerment to deliver real economic impact.
“It is often said that the great barometer of Nigeria’s economic health isn’t found on the stock exchange tickers. More often, it resides in the grit and sheer determination of a Nigerian woman turning business into a huge enterprise,” Belo-Olusoga remarked.
She added that the foundation sees women’s empowerment as a critical driver of national development, noting, “When a woman thrives, the secular economy is no longer a theoretical concept. It becomes a reality that feeds families, educates children, and stabilises communities.”
The N1 billion fund will provide equipment financing for 200 deserving women, enabling them to transition from small-scale operations to industrial-strength businesses. Belo-Olusoga called for wider awareness of the programme, saying, “We want every Nigerian woman who has an ambition to know that her dream is valid.”
Representing BOI Managing Director Dr Olasupo OlusiBank of Industry MD”], Executive Director for Micro, Small and Medium Enterprises, Oluwatoyin Edu, said the fund will expand collaboration between the institutions and strengthen support for women-led enterprises.
The Y’ellopreneur initiative builds on previous programmes, including a N100 million Youth Entrepreneurship Development Programme in 2018 and the N300 million Y’ellopreneur Programme in 2022. The 2026 programme significantly increases funding and scope.
Under the initiative, 1,000 women entrepreneurs will participate in structured capacity-building programmes, while 200 women-led MSMEs will have access to affordable loans of up to N5 million to expand their businesses. The programme targets high-impact sectors, including agro-processing, light manufacturing, fashion, energy, waste management, and digital services.
Executive Director of the MTN Foundation, Odunayo Sanya, emphasised that the programme addresses both funding and skills gaps, combining capacity building with access to capital. She added that the foundation aims to build capacity for 30,000 women and fund 10,000 female-led businesses over the next five years.
Sanya stated, “We are creating an ecosystem that empowers women, strengthens enterprises, and contributes meaningfully to Nigeria’s economic transformation.”
