Nigeria: MTN to Invest Over N65 Million in Nigerian Startups Through Grants

27 October 2022
This Day (Lagos)
By Emma Okonji

MTN is set to invest in Nigerian owned businesses through a campaign tagged: 'MTN PulseBlowMyHustle', which aims to economically empower Nigerian youths involved in scalable businesses.

The investment is sequel to the 'side hustles' by Nigerian youths, which ranks highest among other African countries.

'Side hustles' amongst Nigerian youths have become prevalent compared to previous generations. According to a 2019 Geo Poll, side hustles have become fast-rising, with Nigeria leading the pack at 44.4 per cent, followed by Kenya at 40.8 per cent. The report sampled youths from Nigeria, Kenya, South Africa, Uganda and Tanzania, and found some of the major side hustles to include agriculture, entertainment, Information and Communications Technology (ICT), online business, logistics, and food and beverage sectors, among others.

Speaking at the MTN Pulse launch event 2022 in Lagos last week, Chief Marketing Officer, MTN Nigeria, Adia Sowho, said: "The 'hustle spirit' amongst Nigeria's young people is truly inspiring as they are innovative and entrepreneurial. MTN is here to support that 'hustle' so that their dreams can become reality. Young business owners have told us what they need, and with MTN Pulse Blow My Hustle, we will share business skills from experts in relevant fields and create access to financial grants. We look forward to the transformation that this initiative will propel."

The campaign, according to MTN, is geared towards further building entrepreneurial skills amongst Nigerian youths and providing them with the right principles to excel in various business industries.

The shortlisted 100 candidates of the initiative will gain access to virtual training on Business Management, Digital Marketing, Financial Literacy, Investment Strategies, Business Legal Requirements, Elevator Pitches amongst others; and tasks will be assigned after each class. The top 20 contestants will be selected based on performance after the two-week training period as finalists who will present their business ideas to a panel of judges, engage in a brief question and answer session.

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