The Bank of Industry and the MTN Foundation have signed a memorandum of understanding (MoU) to establish a N1 billion Matching Fund to expand access to finance and capacity building for women-led micro enterprises across Nigeria.
 According to both institutions, the matching fund, under the Y’ellopreneur 3.0 programme, is a pilot designed to reach women operating viable businesses who are typically excluded from formal credit due to collateral and documentation requirements.
  
Speaking at the signing ceremony yesterday in Lagos, the Managing Director and Chief Executive Officer, BOI, Dr Olasupo Olusi, said the initiative represents more than the continuation of an existing collaboration, but is also a deliberate intervention targeted at women at the base of the economic pyramid, who operate viable businesses but remain excluded from structured finance.
 He said across Nigeria, women sustain a large share of micro-businesses in the markets and communities, while processing and providing services that support household income and local economic activity.
 Olusi said, however, many of them cannot access affordable capital because traditional lending models often require documentation, collateral and financial histories that do not reflect how these businesses actually operate.
  
According to him, this partnership is designed to specifically bridge that gap, adding that the programme is structured more as a pilot to test, learn and refine the model that works for women entrepreneurs who need financing the most, while building a framework that can be sustainably expanded over time.
 He said beyond credit, the programme embeds capacity building, business development support and mentorship, with plans to train about 1,000 women entrepreneurs in record-keeping, growth management and competitiveness.
 “An expanding opportunity at the microenterprise level strengthens productivity, stabilises income and contributes to broader economic resilience. BOI remains committed to working closely with MTN Foundation and all stakeholders to ensure the effective implementation of this programme. Our focus will be on transparency, on sustainability and measuring outcomes so the program delivers real value and provides a model that can be replicated under other programme,” he added.
 
On her part, the Executive Director, MTN Foundation, Odunayo Sanya, said the renewed partnership builds on earlier pilots that helped both institutions refine their approach and scale impact in women-led businesses.
 She said this new phase is aimed at delivering faster and more measurable outcomes for women-owned businesses, noting that the foundation targets building capacity for 30,000 female-led businesses by 2030, up from the nearly 6,000 reached presently. The foundation also aims to unlock access to capital for 10,000 women-owned enterprises with the renewed partnership with the bank.
 
According to her, the partnership would also deepen support for women entrepreneurs, improve business survival rates and attract additional partners to scale funding for the segment.
 She added that the initiative is expected to blend training, mentorship and financing, while also serving as a blueprint for broader public–private cooperation in unlocking new pools of capital for enterprise development and inclusive growth in the country.