Starting a business requires a lot of effort, market skills, and capital. A deficit of any of these factors will easily lead to a moribund prospect for the business. While women may even find it more difficult to maintain a business without sufficient capital. So, the giant telecommunication network in Africa decided to help women to expand their business. Hence, the MTN Y’ellopreneur program welcomes all Nigerian females to pitch their need for capital expansion in business. They will in turn loan 500 successful females a sum of 2 million Naira.
So, are you a female? Do you run a business in any of the areas listed on this page? Are you a self-motivated individual? Do you need more capital to grow your business? Then, we recommend you consider applying for the MTN Y’ellopreneur program.
Ensure you know what and how to apply for a loan, to make profits. MTN Y’ellopreneur program seeks committed women who believe in self-employment.
However, a four-week training program will take place to entertain and better train the winners. Teaching them better market strategies and best practices to put the money to use. Meanwhile, carefully go through this page to learn all about the application guidelines and requirements.
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About The MTN Y’ellopreneur Program
The MTN Y’ellopreneur program is an initiative of the MTN Foundation. The program has a designed motive to provide capacity-building and funding opportunities to competent Nigerian female entrepreneurs. Meanwhile, the MTN Y’ellopreneur in collaboration with the Bank of Industry brought to this initiative.
Nonetheless, the Foundation has a great commitment to bridging the female entrepreneurial skills gap, through a 4-week virtual training program. Thus, this program tends to primarily empower more female folks, cognizant of the Federal Government’s Sustainable Development Goals Agenda.
While, upon full payback of the equipment loan, those who meet expectations of the credit terms will receive free grants extension.
Hence, for have taken your time to visit this page, and you have an interest as a female entrepreneur with a keen interest in growing your business, do take steps to apply and fill out the application form. You can see the entry close date below on this page while you also read to see the application guidelines.
About MTN Foundation
The MTN Foundation is an initiative of MTN to help grow and empower brilliant and skill full fellows. While the MTN Y’ellopreneur is one of their programs for this initiative, they also handle other financial aid programs specifically for students. Among them includes the MTN foundation scholarship. This scholarship scheme seeks to attract high-performing full-time students studying in public tertiary institutions in Nigeria. These may either be universities, polytechnics, and colleges of education. The scholarship provides financial assistance to students who face financial challenges and cannot pay for their tertiary education. Hence, the MTN Foundation aims to recognize and reward academic excellence.
We recommend you click here to see the Apply for MTN Foundation Scholarship for Nigeria Students
How Many People Win The MTN Y’ellopreneur Program 2024
Firstly, 500 candidates will be selected. While 100 participants who meet the criteria after a 4-week training will win the award.
Benefits Of The MTN Y’ellopreneur Program
Which Category Of Business Can Apply?
Provided you are female entrepreneur. While you also display passion and commitment to self-employment and run an existing business of two years and above in the fields below, you can apply;
However, the MTN Y’ellopreneur program focuses on businesses that source raw materials locally.
If you intend to participate in the MTN program, you must ensure to meet the following criteria below;
How to Apply For The MTN Y’ellopreneur Program
Do you seek how to apply for the MTN Y’ellopreneur program? Then, search no further as the application always holds online. You’d have to visit the official MTN website to apply. Meanwhile, we recommend you click on the apply now button below to directly take you to the application portal. Ensure you fill in all your details correctly and endeavor to cross-check before submission.
Is The MTN Y’ellopreneur program Application Ongoing?
As of the time of this publication, the MTN Y’ellopreneur program application has ended for the year 2023. Shortlisted candidates will be notified and awarded. However, we await the next application date for 2024. The application process usually/ status is open for a month. We recommend you subscribe to this website to receive updates when it starts. While you can check other scholarship programs and grants listed on this website scholarafrika.com
MTN Y’ellopreneur Program Application Deadline
Application 2023 closed on Wednesday, July 20, 2023. So, we await the 2024 announcement. While you keep in mind that late applications will lead to disqualification.
Is There An Interest Rate On The Equipment Loan, What Is The Interest Rate?
Yes, the equipment loan has a 2.5% on the equipment loan. The value is 25% less than Grant’s. Meanwhile, the interest rate remains fixed for the repayment tenure. This means you’d have to repay the sum of 2.5 million naira in total.
What Is The Repayment Period For The Equipment Loan?
The repayment period lasts for about 42 months with 6 months moratorium and 36 months (3 years) repayment period. So this makes it easy for, winners to repay. The 6 months moratorium implies that winners will not pay anything for the first six months on the loan. While subsequently, they use 3 years (36 months) to pay up. People who meet the repayment criteria will be refunded the 25% upon repayment completion.
However, the terms and conditions depend on the agreement reached between the female entrepreneur and BOI.
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Frequently Asked Questions About The MTN Y’ellopreneur Program
What is the MTN Y’ellopreneur programme?
The MTN Y’ellopreneur targets to contribute to the decrease in women’s unemployment while they advance women’s development in ‘Entrepreneurship’ through capacity building to improve their entrepreneurial abilities.
Who is the implementing partner on this initiative with MTN Foundation?
The major implementing partner of MTN Foundation is the Bank of Industry (BOI).
What is the minimum qualification need to apply?
The minimum qualification needed to apply is a Secondary School Certificate.
Would Capacity Building (Training) be involved and who will be delivering the Training?
Yes, virtual (online) training sessions will be held that will involve self-paced and instructor-led sessions. Meanwhile, MTN will provide data throughout the training interval.
What organization will deliver the Training?
The Training will be chaired by the Enterprise Development Centre of the Lagos Business School.
What is the scheduled period for the Training?
The virtual Training is a 4 week of training to be held in August. Only shortlisted applicants will be contacted to attend.
Will the Training be held physically in a particular location or virtually?
This is going to be an online Training addressing the entrepreneurial skills gap
What other things do I require for this Training?
You only need to have a laptop or tablet/ an internet-enabled device. Additionally, mobile data to connect for the training will be provided by MTN.
Would assessment/test be part of the Training session?
Yes, at the end of each module, there will be an assessment for the selected 500 female entrepreneurs, and at the end of the training. While the assessment scores will form part of the requirements to qualify 100 female entrepreneurs for the equipment loan/grants.
How much am I required to pay for this Training?
The Training is free. You don’t have to make any payment.
Will I be shortlisted for the equipment loan/grant opportunity if I do not attend the training?
No. You have to attend the training to get the opportunity to be shortlisted for the equipment loan/grant.
Will I be awarded a Certificate at the end of the Training?
Yes, every participant will obtain an E-Certificate.
What is the value of the equipment loan?
Each female entrepreneur will receive up to a sum of N2 million equipment loan. Although, it is subject to business plan analysis.
Is it only for female entrepreneurs from specific States?
No. The Yellowpreneur program initiative is for all female Nigerian entrepreneurs across the states in Nigeria.
Finally, if you have carefully gone through this page, you should have learned all about the MTN Y’ellopreneur Program. This includes its application procedures and requirements.
We recommend female entrepreneurs apply for this opportunity and grow their businesses. However, if you need more assistance, use our comment box.