From Micro to Mainstream: How the MTN, BOI N1bn fund is set to transform female MSMEs

Recent insights highlight a strong entrepreneurial drive among Nigerian women, with 85 percent identifying as entrepreneurs and 90 percent expressing intent to start their own businesses.

This growing ambition underscores the need for targeted financing and structured support systems to enable scale and strengthen women‑led enterprises across multiple sectors.

In a bid to achieve this, the MTN Foundation, in partnership with the Bank of Industry (BOI), has launched applications for the Y’ellopreneur 3.0 programme, a N1 billion matching‑fund initiative implemented through the Enterprise Development Centre (EDC) of the Pan‑Atlantic University.

This third edition focuses on enabling women-led micro, small, and medium enterprises (MSMEs) across Nigeria to scale through structured access to financing, capacity development, mentorship, and business advisory support.

Speaking at a media parley hosted at MTN Headquarters in Lagos, Ibijoke Sanwo‑Olu, the First Lady of Lagos State,  represented by Oyinlola Agoro, wife of the Lagos State Head of Service, highlighted the importance of initiatives like the MTN Y’ellopreneur which provides women with access to the skills, financing, and networks necessary to grow sustainable businesses.

She said ‘’The Lagos state administration remains deeply committed to initiatives that transition our women from the margins of the economy to the mainstream of industrial growth. I am immensely proud of the past Y’ellopreneurs who have stepped up to transform their skills into scalable enterprises. This partnership with MTN and the BOI is a testament to what we can achieve when the public and private sectors align to champion the African woman.’’

Also speaking was Mosun Olusoga, Chairman, MTN Foundation, who underscored the importance of collaboration in supporting women entrepreneurs and highlighted the significance of the Foundation’s partnership with the Bank of Industry.

She stated: “At the MTN Foundation, we have moved far beyond the era of viewing women’s empowerment as ‘social good’ or a checkbox in a CSR report. We see it as a cornerstone for nation-building. Because when a woman thrives, the circular economy is no longer a theoretical concept. It becomes a reality that feeds families, educates children, and stabilises communities.”

She continued: “It is with my distinct honour to announce our partnership with the Bank of Industry as we launch the MTN x BOI Y’ellopreneur 3.0 Matching Fund, a N1 billion intervention.

This fund is specifically designed to provide equipment financing for 200 deserving women, enabling them to transition from small‑scale operations to industrial‑strength businesses. We are looking for innovators, disruptors, and builders- women who are ready to take their seat at the table of the digital economy.”

Representing Olasupo Olusi, Managing Director and CEO of the Bank of Industry, Oluwatoyin Ahmed Edu, Executive Director, MSME, emphasised BOI’s commitment to gender-focused financing and entrepreneurship development.

He noted: “This initiative aligns strongly with BOI’s strategic priority areas: gender balance, MSME growth, financial inclusion, and entrepreneurship development. Today represents more than a financial partnership; it symbolizes our collective belief in the power of women to drive inclusive and sustainable economic progress.”

During her presentation, Odunayo Sanya, Executive Director, MTN Foundation, also highlighted the programme’s impact and encouraged broader industry participation to accelerate support for women-led businesses.

She remarked: “Y’ellopreneur 3.0 is designed to deliver measurable impact by equipping women with the skills, networks, and financial support required to grow resilient businesses that contribute meaningfully to Nigeria’s economy.”

The launch event featured a market activation at the MTN Nigeria Rooftop Event Centre for past Y’ellopreneurs and a panel session with Oreoluwa Finnih‑Awokoya, Special Adviser to the Lagos State Governor on Sustainable Development Goals (SDGs); Princess Adesola Ogunleye, National President, Country Women Association of Nigeria (COWAN) and Hansatu Adegbite, National Consultant, Private Sector Partnerships, UN Women.

Speaking on the theme “Beyond Empowerment: Building Resilient Women‑Led Businesses in Nigeria’s Emerging Economy,” the panel highlighted the need for strengthened support systems, improved access to financing, and enabling policies that empower women entrepreneurs to scale sustainably.

Applications are now open to women entrepreneurs across sectors including agriculture, energy, trading, fashion, ICT and digital services, waste management, recycling, food processing and manufacturing in Nigeria.