Odunayo Sanya, the Executive Secretary of The MTN Foundation, has announced a new initiative aimed at empowering female entrepreneurs with global business skills. This effort is part of the sixth phase of the ICT and business skills training capacity-building program, specifically designed for female entrepreneurs and business owners aged 18 to 35. The program is a collaborative venture involving MTN Foundation Y’ellopreneur, Mastercard Foundation, and Enterprise Development Centre.
During a media gathering to unveil this phase, Odunayo Sanya emphasized the importance of addressing the gender gap in business ownership and management. She pointed out that research conducted by the foundation revealed a significant disparity in funding allocation for women-led or women-founded businesses. In 2021, only a mere two percent of venture capitalists' funds globally were directed towards such enterprises.
Recognizing the pressing need to bridge this gap, the Y’ellopreneur initiative focuses primarily on capacity-building for women entrepreneurs. Sanya highlighted that this initiative not only aligns with Sustainable Development Goal (SDG) five, which emphasizes gender equality, but also aims to fill a crucial void in the business landscape. The program partners with the Bank of Industry and the Enterprise Development Centre (EDC) to further enhance its impact.
Sanya explained, "The Y’ellopreneur is really first about capacity building. And then yes, you build capacity and then what do you do next? And that’s where we now iced it like a cake with the partnership with a Bank of Industry even though they are fully funded and EDC. EDC is our knowledge partner who will train the women and then the Bank of Industry will administer for us the funds that MTN Foundation was given."
This collaborative effort underscores the commitment to empower female entrepreneurs by providing them with essential skills and resources to succeed in the global business landscape.
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