Y’ello, you are welcome to the MTN Y’ellopreneur page. MTN Y’ellopreneur is an initiative of the MTN Foundation designed to provide capacity-building and funding opportunities to qualified Nigerian female entrepreneurs, in collaboration with the Bank of Industry.
The Foundation is committed to bridging female entrepreneurial skills gap, through a 4-week virtual training programme meant to ultimately empower more female folks, in alignment with the Federal Government’s Sustainable Development Goals Agenda.
The participants of the training who meet the set criteria for selection of the top 100 entrepreneurs, will receive equipment loans of up to N2 million, to enable them grow and sustain their businesses. Upon full payback of the equipment-loan, grants would be extended to those who meet expectation of the credit terms.
Having taken time to visit this page, and you are an interested female entrepreneur with keen interest to grow your business, do take steps to apply and fill the form below. Entries close on Wednesday, July 20, 2022. Only shortlisted candidates will be contacted. Thank you.
Q What is the MTN Y’ellopreneur?
A The MTN Y’ellopreneur aims to contribute to the reduction in women’s unemployment and advance women’s development in ‘Entrepreneurship’ through capacity building to enhance their entrepreneurial abilities.
Q Who can apply for the MTN Y’ellopreneur?
A Female entrepreneurs who display passion and commitment to self-employment and run an existing business of two years and above in manufacturing, processing, agriculture, ICT/digital services, financial services, etc. The focus is on businesses that source raw materials locally.
Q What is the minimum qualification for the target female entrepreneurs?
A The minimum qualification is a Secondary School Certificate.
Q Who is the implementing partner on this initiative with MTN Foundation?
A The implementing partner is the Bank of Industry (BOI).
Q Would Capacity Building (Training) be involved and who will be delivering the Training?
A Yes, there will be virtual (online) training sessions that will involve self-paced and instructor-led sessions. MTN will provide data throughout the training period.
Q What organisation will deliver the Training?
A The Training session will be handled by the Enterprise Development Centre of the Lagos Business School.
Q What is the scheduled period for the Training?
A The virtual Training is scheduled to hold for a 4 weeks period in August 2022. Only shortlisted applicants will be contacted.
Q Will the Training be held physically in a particular location or virtually?
A This is an online Training that addresses the entrepreneurial skills gap
Q What other things do I require for this Training?
A You will be required to possess a laptop or tablet or internet-enabled device. Mobile data to connect for the training will be provided by MTN.
Q Would assessment/test be part of the Training session?
A Yes, there will be an assessment for the selected 500 female entrepreneurs at the end of each module and at the end of the training. The assessment scores will form part of the requirements to qualify 100 female entrepreneurs for the equipment loan/grants stage.
Q How much am I required to pay for this Training?
A The Training is free. You are not required to make any payment.
Q Will I be shortlisted for the equipment loan/grant opportunity if I do not attend the training?
A No, you will not be shortlisted for the equipment loan/grant opportunity if you do not attend the training.
Q Will I be awarded a Certificate at the end of the Training?
A Yes, each participant will be awarded E-Certificate.
Q What is the value of the equipment loan?
A Each female entrepreneur will receive up to a N2million equipment loan subject to their business plan analysis.
Q What is the repayment period for the equipment loan?
A The repayment period is 6 months moratorium and 36 months repayment period. However, this is subject to the terms & conditions reached between the female entrepreneur and BOI.
Q Is there an interest rate on the equipment loan and what is the interest rate?
A Yes, there is an interest rate, and it is 2.5% on the equipment loan value less 25% as Grant. The interest rate is fixed for the repayment tenure.
Q I do not have a full understanding of the part of the GRANT?
A Upon the full repayment of the equipment loan by the female entrepreneur, 25% of the loan value will be refunded to each entrepreneur as a grant.
Q How many Phases of this initiative have been implemented?
A This is the maiden (first) phase of the program.
Q Is it only for female entrepreneurs from specific States?
A The initiative is for female entrepreneurs across all the states in Nigeria and who are Nigerians.
Q How many female entrepreneurs will be shortlisted for the Training stage?
A MTN will shortlist 500 female entrepreneurs for the Training session.
Q Sounds exciting! So, how do I apply for this Training?
A All applications for the Training should be through the application link: www.mtn.ng/yellopreneur to apply. Please note that terms and conditions apply.
Q When does the Application exercise end?
A: The application closes on Wednesday, July 20, 2022. Late application will be disqualified.