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MTN Nigeria To Fund Micro Businesses With N5m Grant.

MTN Nigeria raises N125bn through commercial paper

MTN Nigeria is set to fund unskilled businesses, micro enterprises and artisans with grants of up to N5million, as a part of the  Blow My Hustle’ campaign.

This initiative aims to put the spotlight on informal businesses in need of funding.

The International Monetary Fund(IMF), said  approximately 5.5 million people own, operate or are employed under informal business structures in Lagos alone, which is about three quarters of the state’s labour force .

This comprises artisans, street hawkers, vendors, traders, domestic workers, among others.

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With these figures, MTN said, it is evident that a considerable percentage of Nigerian entrepreneurs and businesses are in the informal sector.

MTN Nigeria said it is dedicated to empowering Nigerian businesses, adding that, ‘The Blow My Hustle’ campaign, which was launched on 19th October, 2022, aims to empower young Nigerians with scalable businesses through capacity building and grants.

Through the Pulse “Nominate Your Hustler” campaign, which is part of the Blow My Hustle campaign, 50 artisans and informal business owners will enjoy a one-time grant of N100, 000 from MTN to scale their businesses and enhance profitability.

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The initiative requires individuals to nominate artisans or hustlers in the informal sector, such as; barbers, vulcanisers, hairdressers, who are diligent in their vocation and need a grant to scale their hustle.

To nominate a hustler for this grant, anyone, other than the hustler, can upload a 60 second video on their personal Instagram or Twitter page, using the #MTNPulseBlowMyHustle. In the video, the nominator is expected to describe the nominee’s business, stating the location, business type and the relevance of the ‘hustle’ to the society. The video has to be explanatory and convincing enough for the nominee to access the grant.

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Credible and compelling videos are the basis of selection for this grant. MTN said, all video entries will be scrutinised by a panel of judges to ensure equity and fairness.

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