Flourish Africa, a female empowerment organization founded by philanthropist Apostle Folorunso Alakija, recently awarded N3 million grants to 100 female-owned businesses, supporting a new wave of women entrepreneurs across Africa. This initiative, part of Flourish Africa’s Business and Life Skills Training Programme, has so far trained 515 women, providing vital resources to strengthen Africa’s growing MSME sector.
The grant recipients, chosen from program graduates who excelled in a business pitch competition, were celebrated at Flourish Africa’s 8th Annual Conference and Grant Award Ceremony. This year, the organization also expanded its total funding commitment to N1.3 billion.
Alakija emphasized the significance of economic inclusion, saying, “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, thereby contributing to eradicating poverty and fostering economic growth.”
Supporting this vision, Ayodeji Megbope, CEO of No Left-Overs, highlighted research showing that closing the gender gap in workforce participation could boost global GDP by £28 trillion by 2025. She noted that empowering women in business benefits not only individuals but entire economies.
Also speaking at the event, Olufunto Igun, CEO of Sorami Enterprises, underscored the role of mentorship in entrepreneurship. “Trust, mutual respect, and setting SMART goals are essential. With effective mentorship, women entrepreneurs become self-sufficient and can empower others,” Igun said.
The four-month training program is designed to address key challenges faced by female-led MSMEs in Africa, covering business strategy, finance, legal compliance, marketing, and human resources. The curriculum aims to equip women with the skills needed to establish sustainable, profitable businesses, creating ripple effects in local communities and economies.
Through initiatives like these, Flourish Africa is helping drive Africa’s economic transformation by empowering a new generation of female entrepreneurs, furthering the continent’s goals of sustainable development and gender equality in business.
