Flourish Africa, a non-profit founded by businesswoman Folorunso Alakija, has empowered 515 female entrepreneurs in its latest training cohort and increased its grant funding to N1.3 billion. The organization awarded seed grants of up to N3 million each to 100 graduates of its Business and Life Skills Training Programme during its Grant Award Ceremony and 8th Annual Conference in Lagos.
This year’s grant increase, from N2 million to N3 million per recipient, responds to current economic conditions and reflects Flourish Africa’s commitment to supporting sustainable growth across the continent. The program has made significant strides since its initial N1 billion funding initiative, training 1,539 female entrepreneurs and disbursing N400 million to 200 women-owned businesses, driving local and national economic growth.
In her address, Alakija emphasized the life-changing impact of empowering women: “When women have access to economic resources and equal opportunities, they improve their well-being and that of their families. This empowerment enables them to participate in and influence economic decision-making within society, thus helping to eradicate poverty and foster economic growth.”
The conference, themed *‘She-Champions: Elevating Women’s Participation in Economic Development,’* brought together influential business leaders who discussed the importance of gender equality in economic decision-making. Ayodeji Megbope, CEO of No Left-Overs, highlighted studies showing that closing the gender gap in labor force participation could add £28 trillion to global GDP by 2025. Olufunto Igun, CEO of Sorami Enterprises, underscored the critical role of mentorship in helping women entrepreneurs become self-sufficient and empower others.
Folarin Alakija, Executive Director of Flourish Africa, stressed the broader economic impact of investing in women, noting that education and business training contribute to societal growth. The four-month training program offered in-depth instruction on business strategy, finance, legal compliance, marketing, and human resources, equipping female entrepreneurs to build profitable, sustainable businesses.
Since its inception in 2021, Flourish Africa aims to empower 2,500 female business owners by 2026, initially in Nigeria, with plans to expand across Africa. Alakija called for continued support from individuals and organizations to extend the initiative’s reach, saying, “We want to see more African women empowered to reach their potential. With this support, we can deepen our impact across the continent.”
