Bank of Industry and MTN Nigeria Foundation have unveiled a N1 billion fund to support women-led businesses across Nigeria under the Y’ellopreneur 3.0 programme.

The initiative, announced in Lagos, is a 50:50 partnership aimed at empowering female entrepreneurs through funding and training.

This fund is specifically designed to provide equipment financing for 200 women, enabling them to transition from small-scale operations to businesses.

Under the initiative, 1,000 women entrepreneurs will participate in a structured capacity-building programme delivered by the Pan-African University Enterprise Development Centre. The 200 women-led MSMEs will receive access to affordable loans of up to N5 million to expand their businesses.

The programme focuses on sectors such as agro-processing, light manufacturing, fashion, energy creation, waste management, and digital services.

Speaking during the launch, the Executive Director, Micro, Small and Medium Enterprises at the Bank of Industry, Oluwatoyin Edu, who represented the Managing Director and Chief Executive Officer, BOI, Dr Olasupo Olusi, said the partnership reflects a shared commitment to advancing entrepreneurship, empowering women, and creating opportunities for enterprise growth across Nigeria.

Also speaking, the Chairman of MTN Foundation, Dr Mosun Bello, said the MTN Foundation has moved far beyond the era of viewing women’s empowerment as a social good or a checkbox in a Corporate Social Responsibility (CSR) report, but a cornerstone for nation-building.

He said: “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.”

During a panel discussion, panellists lamented that despite women’s exploits, they, especially those in rural areas, are still facing challenges of accessibility, culture and others. They summed problem being faced by women as power, resources and the system.