MTNF Invests N600m to Reduce Female Unemployment in Nigeria

MTNF Nigeria Foundation has recently launched the second phase of its Y’ellopreneur initiative, with a massive investment of N600 million aimed at reducing female unemployment in Nigeria.

The initiative targets female entrepreneurs across the country, focusing on those who display passion and commitment to self-employment and run an existing business of at least two years in various sectors, including circular economy, manufacturing, processing, agriculture, ICT/digital services, and waste management.

The initiative aims to contribute to the reduction of women’s unemployment and advance women development in ‘Entrepreneurship’ through capacity building and access to loans, grants, and advisory support services for long-term business sustainability.

The Y’ellopreneur initiative also emphasizes the importance of sourcing raw materials locally, promoting a sustainable and self-sufficient business environment.

During the launch of the phase 2 of the Yellopreneur initiative in Lagos, the Executive Director of the Foundation, Mrs Odunayo Sanya, highlighted the crucial role of gender equality in combating hunger and poverty. According to a research report from WFP Gender Policy and Strategy, 60% of constantly hungry people are women and girls.

To address this issue, continued involvement of women in entrepreneurship and business management is expected to provide income for their families and contribute to the social-economic development of Nigeria.

The Y’ellopreneur initiative was created to bridge the entrepreneurship skills gap and enhance women’s self-employment, aligning with the federal government’s development agenda and contributing to the achievement of the Sustainable Development Goals (SDGs).

The first phase of the initiative empowered 4,711 female entrepreneurs in partnership with the Enterprise Development Centre (EDC) and Mastercard Foundation.

The second phase will administer a 5-week online entrepreneurial skills and masterclass training for 1,000 female entrepreneurs.

In this phase, N450 million is available for qualified Y’ellopreneurs to access as equipment loans, with 25% of the loan value refunded as grants upon full repayment.

The MTNF’s Y’ellopreneur initiative is a significant step towards reducing female unemployment in Nigeria and promoting women’s development in entrepreneurship.

By offering training, access to loans, grants, and advisory support services, the initiative aims to empower female entrepreneurs and contribute to the social-economic development of the country.