MTN Foundation Opens Yellopreneur Grant and Loan 2024 for Female Entrepreneurs

The MTN Y’ellopreneur Initiative aims to play a role in decreasing female unemployment and promoting women’s development in entrepreneurship. This is achieved through capacity building and providing access to capital in the form of loans, grants, and advisory support services, with the goal of ensuring long-term business sustainability.

This initiative specifically targets female entrepreneurs across the country who demonstrate passion and commitment to self-employment. Eligible candidates are those who have been running an existing business for two years or more, focusing on sectors such as circular economy, manufacturing, processing, agriculture, ICT/digital services, waste management, and more.

Notably, the initiative emphasizes businesses that locally source their raw materials. By supporting and empowering female entrepreneurs in these sectors, the MTN Y’ellopreneur Initiative aims to contribute to the growth and sustainability of businesses while fostering women’s economic empowerment and advancement in entrepreneurship.

In 2022, the MTN Nigeria Foundation initiated the pilot phase of the Y’ellopreneur Initiative. During Phase One, a total of 4,711 female entrepreneurs underwent training in essential business management and development skills.

This training equipped them with the knowledge and skills needed to compete for the chance to receive up to N2 Million as equipment loans or grants to enhance the growth of their businesses. Subsequently, equipment loans totaling over N94 Million were disbursed to 50 female entrepreneurs as part of this initiative.

Upon the complete repayment of the loan, participating Y’ellopreneurs will be eligible to receive 25% of the loan value as grants. This innovative approach not only provides financial support to female entrepreneurs but also encourages the sustainability and success of their businesses, contributing to the overall empowerment and advancement of women in the entrepreneurial landscape.

Stages of the Program

Stage 1: Entrepreneurial skills training for 1000 female entrepreneurs

Stage 2: Development and Presentation of Bankable Business plan

Stage 3: Equipment loan support of up to 3 million naira each for 250 female entrepreneurs

Stage 4: Business advisory support services

Stage 5: Seamless loan repayment processes to ensure project sustainability.

ABOUT MTN FOUNDATION

The MTN Foundation was established in 2004 to oversee Corporate Social Responsibility (CSR) initiatives for MTN Nigeria Communications PLC, making it one of the pioneering corporations in Nigeria to launch such an initiative. Commissioned in May 2005, MTN Nigeria Communication PLC pledged to allocate up to 1% of its Profit after Tax (PAT) as the primary funding source for projects under the foundation.

Since its inception, the MTN Foundation has made significant contributions, investing over NGN23.7 Billion across the 36 states of the federation and the Federal Capital Territory (FCT). The foundation has implemented projects in more than 1,017 locations throughout Nigeria, featuring 50 distinct initiatives that span 3,319 communities, reaching and impacting the lives of over 31,234,793 people. Through its sustained efforts, the MTN Foundation continues to make a positive and far-reaching impact on communities across Nigeria.