Connect with us

    MTN Foundation lunches phase two of ‘Yellopreneur’ initiative

    Business

    MTN Foundation lunches phase two of ‘Yellopreneur’ initiative

    MTN Foundation, the Corporate Social Responsibility arm of MTN Nigeria, has launched phase two of its ‘Yellopreneur’ initiative, aiming to empower female entrepreneurs across the country. The initiative offers N450 million in loans to successful applicants, with each entrepreneur receiving N3 million to boost their businesses.

    Odunayo Sanya, the Executive Director of the MTN Foundation, announced the opening of applications during a press briefing at the MTN head office in Lagos. She highlighted that 150 female entrepreneurs will be selected to receive the loans after undergoing a 5-week online entrepreneurial skills training program.

    MTN Foundation is investing N600 million in the second phase of the program, focusing on providing financial support and capacity building for women in entrepreneurship. The loans carry a 2.5% flat interest rate, with a 6-month moratorium and a 36-month repayment period. Upon full repayment, participants will receive 25% of the loan amount as grants.

    The ‘Yellopreneur’ initiative aims to reduce women’s unemployment and promote their development in entrepreneurship by enhancing their skills and providing financial assistance. Eligible applicants must have a minimum SSCE education background and operate businesses in areas such as manufacturing, agriculture, ICT/digital services, waste management, and energy generation.

    Applications for the program opened on March 5, 2024, and will close on March 30, 2024. Female entrepreneurs meeting the eligibility criteria are encouraged to apply for this opportunity to receive financial support and advisory services for sustainable business growth.

    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    More in Business

    All the best news stories, sport & showbiz from the Naija One, the top destination for big laughs and home of fun stuff.
    Advertisement

    Trending

    Advertisement
    To Top