BOI and MTN Foundation Launch ₦1bn Fund to Support Women Entrepreneurs in Nigeria
Bank of Industry (BOI) and the MTN Foundation have signed a partnership to create a ₦1 billion Matching Fund to support women-led micro and small businesses across Nigeria.
The fund will run under the Y’ellopreneur 3.0 programme and is designed mainly for women who run viable businesses but cannot access bank loans because they lack collateral, formal records or complete documentation.
According to the Managing Director of BOI, Olasupo Olusi, the programme is targeted at women operating at the base of the economic pyramid, especially traders, processors and service providers who sustain households and local markets.
“This partnership is designed to specifically bridge that gap and create a model that works for women entrepreneurs who need financing the most.”
What women will benefit from
The programme will not only provide funding. It will also include:
Business training and capacity building
Record-keeping and financial management support
Growth and competitiveness coaching
Business mentorship
BOI disclosed that about 1,000 women entrepreneurs will be trained during the pilot phase to improve how they manage and grow their businesses.
The Executive Director of the MTN Foundation, Odunayo Sanya, explained that the new phase builds on previous pilots and is focused on delivering faster and measurable results for women-owned businesses.
She added that the Foundation plans to build capacity for 30,000 women-led businesses by 2030 and support 10,000 women entrepreneurs with access to finance through the renewed partnership with BOI.
How women entrepreneurs can be part of the programme
Women who already run small businesses and want to benefit should:
Watch out for official application announcements on BOI and MTN Foundation platforms
Prepare basic business information such as business location, type of business and simple sales records
Be willing to attend training and mentorship sessions
Join community or market associations that often receive information about such programmes
The programme is focused on women who are already operating a business, even if it is informal.
This ₦1bn fund offers real hope for women entrepreneurs who are excluded from traditional bank loans. By combining funding, training and mentorship, the BOI–MTN Foundation partnership is helping women grow stronger businesses and build more stable incomes for their families and communities.
