The MTN Foundation in partnership with the Bank of Industry and the Enterprise Development Centre (EDC) has officially launched the first phase of the Y’ellopreneur programme for female entrepreneurs in Nigeria.
The announcement was made in a statement by the telecom operator on Wednesday.
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The Y’ellopreneur initiative is designed to build the entrepreneurial skills of 500 women, through capacity-building sessions that will run for four weeks.
The outstanding 150 entrepreneurs with recommended bankable businesses will be supported with an equipment loan of up to N2 million each at a fixed interest rate of 2.5% and a 36-month repayment duration.
The programme is focused on advancing women’s development in the area of entrepreneurship through capacity building, advisory and business support services.
The Director, MTN Foundation, Dr Mosun Belo-Olusoga, highlighted the impact the Y’ellopreneur initiative will have on women-owned businesses in Nigeria.
“This is a cause I am particularly passionate about, and I am gratified that MTN is demonstrating its continued commitment to supporting women’s development through the implementation of the Y’ellopreneur initiative.
“The initiative will contribute to reductions in female unemployment and advance our development through training designed to enhance the entrepreneurial abilities of the 500 women,” she said.
Executive Secretary of MTN Foundation, Odunayo Sanya, said, “We were particular about the types of business that we wanted to fund. For us, it was about the real economy, and today we are training women across a range of businesses including; manufacturing, processing, ICT, agriculture, waste management and recycling.”
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