Encomium
MTN Foundation’s Y’elloprenuer initiative kicks off in its second phase in style with a media parley at the MTN Plaza, Falomo on the 5th of March, 2023. The second phase of this initiative aims to train 1,000 women entrepreneurs across the country with equipment loan extended to 150.
The outstanding 150 female entrepreneurs with great business ideas will be supported with an equipment loan of up to 3 million Naira each at a fixed interest rate of 2.5% and a 36-month repayment duration.
In 2023, the National Bureau of Statistics (NBS) reported that 40% of micro, small, and medium enterprises (MSMEs) in Nigeria are owned by women. This finding represents a substantial advancement towards greater gender parity in the entrepreneurial sector. This is evidence that the efforts from initiatives like MTN’s Y’ellopreneur are yielding positive results.
Speaking at the event, the Executive Director, MTN Foundation, Odunayo Sanya, stated, “While we are encouraged that more women are taking on entrepreneurship in the country, there is more to do as women are still largely disadvantaged in capital and business skills. Through the Y’ellopreneur programme, we can empower this critical demography in the country while supporting the government’s effort towards economic revitalisation.”
The Y’ellopreneur initiative is in partnership with Zenith bank. The initiative is part of the MTN Foundation’s efforts to improve women’s empowerment and assist in the reduction of female unemployment in Nigeria. This initiative also aims to transform small businesses for women across the country.
