Empowering 20,000 Nigerian Women: MTN, Mastercard, and EDC Launch Entrepreneurial Training Program

2025-01-07

In a groundbreaking initiative to bridge the gender gap and foster economic empowerment, MTN Foundation, in collaboration with Mastercard Foundation and the Enterprise Development Centre (EDC) of Pan-Atlantic University, has launched a comprehensive entrepreneurial training program for 20,000 Nigerian women. This four-week program, part of the MTN Y’ellopreneur Initiative, aims to equip women with essential business skills, including website creation, business planning, and access to low-interest loans.

Program Overview

The initiative seeks to address the challenges faced by female entrepreneurs in Nigeria, particularly the lack of adequate training and funding opportunities. After receiving 35,000 applications, 500 women were selected for an intensive training program conducted by EDC. The training covers a wide range of topics, from business registration and online visibility to growth planning and networking.

Post-training, participants will receive three months of advisory and business support services. Additionally, a marketplace event will be organized to showcase their businesses, and Mastercard Foundation will provide funding support for those interested in scaling their ventures. Trainees who complete the program will also be eligible for loans, with a 25% grant incentive for timely repayment.

Strategic Partnerships

This initiative is a testament to the power of collaboration. MTN Foundation and Mastercard Foundation have joined forces to empower women, aligning with Mastercard’s broader goal of empowering 30 million people across Africa, including 8 to 10 million young Nigerians. The EDC’s role in delivering the training ensures that participants receive high-quality, practical knowledge to sustain and grow their businesses.

Addressing Economic Challenges

The program comes at a critical time when Nigeria faces significant economic challenges, including the devaluation of the naira and its impact on businesses. By empowering women entrepreneurs, this initiative not only addresses gender inequality but also contributes to economic resilience and growth.

What Undercode Say:

The MTN Y’ellopreneur Initiative is a commendable effort to address the systemic barriers faced by female entrepreneurs in Nigeria. By focusing on capacity building, access to finance, and mentorship, the program tackles the root causes of gender inequality in entrepreneurship. Here’s a deeper analysis of its potential impact:

1. Closing the Gender Gap: Women in Nigeria, like in many other parts of the world, face significant barriers to entrepreneurship, including limited access to education, funding, and networks. This program directly addresses these challenges by providing targeted training and financial support. By empowering 20,000 women, the initiative has the potential to create a ripple effect, inspiring more women to pursue entrepreneurship and contribute to the economy.

2. Economic Resilience: Nigeria’s economy has been under strain due to factors such as currency devaluation and inflation. By equipping women with entrepreneurial skills, the program not only empowers individuals but also strengthens the broader economy. Small and medium-sized enterprises (SMEs) are the backbone of any economy, and supporting women-led businesses can drive job creation and economic stability.

3. Sustainability and Scalability: The inclusion of post-training support, such as advisory services and marketplace events, ensures that the impact of the program is sustainable. Additionally, the partnership with Mastercard Foundation provides a scalable model that can be replicated in other regions or countries facing similar challenges.

4. Digital Transformation: The focus on website creation and online visibility is particularly noteworthy. In an increasingly digital world, having an online presence is crucial for business success. By training women in digital skills, the program ensures that they are not left behind in the digital economy.

5. Collaborative Approach: The success of this initiative highlights the importance of collaboration between the private sector, non-profits, and educational institutions. MTN Foundation, Mastercard Foundation, and EDC each bring unique strengths to the table, creating a holistic program that addresses multiple facets of entrepreneurship.

6. Long-Term Vision: Mastercard Foundation’s goal of empowering 30 million Africans, including 8 to 10 million Nigerians, aligns with the United Nations Sustainable Development Goals (SDGs), particularly Goal 5 (Gender Equality) and Goal 8 (Decent Work and Economic Growth). This initiative is a step towards achieving these global targets, demonstrating how corporate social responsibility can drive meaningful change.

In conclusion, the MTN Y’ellopreneur Initiative is more than just a training program; it is a catalyst for gender equality, economic growth, and digital transformation. By empowering 20,000 Nigerian women, the program sets a precedent for how strategic partnerships and targeted interventions can create lasting impact. As these women grow their businesses, they will not only transform their own lives but also contribute to the broader socio-economic development of Nigeria.