MTN Foundation, BoI inaugurate N1bn fund for womenT

he MTN Foundation and Bank of Industry (BoI) have inaugurated a N1 billion fund to support women entrepreneurs across Nigeria under it’s Y’ellowpreneur 3.0 programme.The Chairman of the MTN Foundation, Dr Mosun Olusoga, made the announcement during a news conference on Tuesday at the MTN Plaza, Ikoyi, Lagos.Olusoga said the initiative highlighted the important role of women in economic development.“We believe the real barometer of Nigeria’s economic health is the determination of women building businesses,” she said.She said that over 5,700 women had been trained under previous editions, with more than N304 million given to 122 entrepreneurs. “We are launching a N1 billion fund to support 200 women to grow their businesses. We are looking for innovators and builders,” the foundation’s chairman said.Also, the Managing Director of BoI, Dr Olasupo Olusi, said the programme marked a strong partnership between the bank and MTN.Olusi, who was represented by the Executive Director, MSME at BoI, Mr Oluwatoyin Edun, said the bank was pleased to deepen its collaboration with the launch of the N1 billion Y’ellowpreneur 3.0 Matching Fund.He explained that 1,000 women would receive training, while 200 would access loans of up to N5 million each.“We measure success by impact in job creation and economic growth, not just profit,” he said.In her remarks, the Executive Director of the MTN Foundation, Mrs Odunayo Sanya, said the programme focused on purpose-driven investment.“We are creating a model that looks at profit through people, planet and purpose,” she said.She explained that the initiative combined funding with training and mentorship.“We know women need both funding and knowledge to grow sustainable businesses,” she said.Sanya added that the foundation aimed at training 30,000 women and supporting 10,000 businesses in five years.She reaffirmed that applications had opened for interested participants.“We are offering training for 1,000 women and loans for 200. This is an opportunity for women to grow their businesses,” she said.Adesola Ogunleye, President of the Country Women Association of Nigeria also raised concerns about rural women.“We see that most women entrepreneurs are in rural areas, but many empowerment programmes focus on cities,” she said.Also speaking, Special Assistant to the Lagos State Governor on SDGs, Dr Oreoluwa Finnih-Awokoya, said the State supported gender equality.“We ensure women have access to funding, training and opportunities,” she said.In a goodwill message, the First Lady of Lagos State, Dr Claudiana Ibijoke Sanwo-Olu, who was represented by Mrs Oyinlola Agoro, commended the initiative.“We believe that when women are empowered, families and communities grow stronger,” she said.