MTN reiterates commitment to women empowerment with Y’ellopreneur

Over the years, women have shown remarkable skills for phenomenal contributions to society, hence the need for a fair playing field and support. Aside from this, global and regional organisations have continuously advocated for equal opportunities across gender, race and ethnicity. Globally, women actively contribute to social and economic growth in a variety of ways […]

Over the years, women have shown remarkable skills for phenomenal contributions to society, hence the need for a fair playing field and support. Aside from this, global and regional organisations have continuously advocated for equal opportunities across gender, race and ethnicity.

Globally, women actively contribute to social and economic growth in a variety of ways as workers, business owners, and service providers. However, their contributions—as well as their economic and social rights—are frequently ignored.

In high-income areas, women are more likely to work part-time in formal positions, make up most of the unprotected informal sector, and have greater rates of unemployment. In addition, they are underrepresented in positions that include making financial decisions and they spend a greater amount of time providing unpaid care.

As a result, a number of stakeholders have embraced women empowerment initiatives to bridge the socio-economic gaps in the world. The United Nations reported in 2023 that one out of every 10 women (or 10.3%) is extremely poor. The report further noted that 342.4 million women and girls, or 8% of the world’s female population, are projected to live on less than $2.15 per day by 2030 if present trends continue. Of these figures, 220.9 million of them live in sub-Saharan Africa.

Undoubtedly, there is the need for active collaboration and significant efforts at all levels aimed at empowering women. Women’s economic empowerment means giving women equal access to markets, decent work, social protection, and control over their own time, money, and bodies. It also entails giving them more agency, voice, and meaningful participation in economic decision-making at all levels, from the home to international institutions.

In Nigeria, various organisations and bodies have been instrumental in empowering women by providing an enabling platform for them to thrive. While the UN has been helpful with provision of policies, data, facts and figures, the federal government is also taking steps aimed at supporting women and providing an avenue for them to thrive as well.

Private organisations such as Wema Bank and MTN Nigeria have also taken steps in empowering women in Nigeria. The ‘She Empowers Her Award By SARA’ is an initiative of Wema Bank that provides an avenue to celebrate women who inspire inclusion and support women in different fields.

MTN Nigeria, through the MTN Foundation, also established the ‘Y’ellopreneur’ initiative in 2022.. This initiative is majorly focused on women enabling female business owners to upscale.

The Y’ellopreneur programme came as a result of MTN’s commitment to women empowerment and gender inclusion and equality. After its first phase in 2023, the initiative proved to be a sustainable programme aimed at empowering women, particularly Nigerian female entrepreneurs. MTN has also launched a second phase, and it entails great opportunities for Nigerian women.

In this second phase, 1,000 women will receive entrepreneurial training covering themes including creating and presenting bankable business plans, providing support services, and ensuring project sustainability, among other things.

Following a pitching process, 150 women will be selected out of the 1,000 and each of the 150 female entrepreneurs will get a loan of N3 million for business equipment.

This initiative reiterates the importance of private organisation’s contribution to economic development in the country. While MTN is not only concerned about the financial commitment being invested in empowering women alone,  the  company is also more inclined to impacting lives and doing the right thing to  improve Nigeria’s citizenry.

Commendably, MTN Nigeria is one of the few companies that constantly dedicates up to 1 per cent of its annual profit after tax to fund the MTN Foundation as a social investment vehicle.

So far, MTN Foundation has invested over N28.2 billion in projects across Nigeria from inception till date. Additionally, over 31 million lives have been impacted through MTN Foundation projects since inception.