In commemoration of International Women’s Day (IWD) 2024, MTN Foundation, the Corporate Social Responsibility division of MTN Nigeria, has reaffirmed its dedication to advancing women’s empowerment and fostering women entrepreneurship through its “Y’ellopreneur Initiative.”
Odunayo Sanya, the Executive Director of the MTN Foundation, announced that 1,000 female entrepreneurs will directly benefit from investments totalling N600 million during the official launch of Phase 2 of the Y’ellopreneur initiative at the telecom company’s headquarters in Lagos.She disclosed that the application process for the program, which officially commenced on Tuesday, March 5, 2024, and is expected to conclude on March 30, 2024, is tailored to target female entrepreneurs in medium-sized enterprises with a minimum SSCE education background, demonstrating passion and commitment to self-employment.
Eligible applicants should have been running an existing business for two years or more, particularly in circular economy sectors such as manufacturing, processing, agriculture, ICT/digital services, waste management, and energy generation, with a focus on businesses that predominantly source their raw materials locally.
Dada added: “I want to congratulate you once again for being partners in progress and in the reduction of poverty and hunger in Nigeria.”Founder of Women in Successful Careers (WISCAR), Amina Oyagbola during her speech, demonstrated that the Y’ellopreneur initiative resonates with the objective of this year’s International Women Day (IWD) celebration theme tagged: “Invest in Women: Accelerate Progress”, aimed at tackling economic disempowerment, with “Inspire Inclusion” as the campaign theme.I think this is a fantastic initiative by the MTN Foundation. It’s an initiative whose time has come”, she said.“It’s a catalytic initiative. And I’m so delighted to have been given the opportunity to be here because one way in which the economic challenges that Nigeria has, can be solved is through initiatives like this. Gone are the days when how many companies can employ how many people? We’re a huge population.“So, it’s only through entrepreneurship that we can really create jobs. And one low-hanging fruit, really is the woman. This is why the IWD theme this year talks about inspiring inclusion and investing in women, which is what this project is all about; they’re truly investing in women.”The MTN Y’ellopreneur project, she emphasised, will have a catalytic effect, encouraging others to join the programme and contribute to solving economic problems.Addressing the challenges that hinder the growth of women in businesses in Nigeria, Oyagbola highlighted the importance of partnership stating: “The solution to most problems in the world is partnership and I think the MTN Foundation philosophy has showcased the power of partnership.“Even the Y’ellopreneur is a partnership work. They didn’t sit down and say they believe they know everything, no. They identified all the critical partners, Entrepreneurship Development Centres (EDCs) and others across the board to ensure that the module that they’ve designed is effective and impactful.WISCAR boss further canvassed for Public Private Partnerships (PPP), insisting it’s the only means to effectively tackle economic challenges.“So, for me, I think Public Private Partnerships (PPP) is the way. So public sector, government, private sector, MTN Foundation, Civil Society Organisations (CSOs), Non-Governmental Organisations (NGOs) like Women in Successful Careers (WISCAR) and others that exist alongside other technical partners. Because everybody brings their own unique strength, and knowledge to the table.“And through that mechanism, collectively; you make a collective impact and you scale to be able to power forward. And that really is the way to go because if you want to go fast, you go alone. But if you must go far, then you have to go with people,” she added.