Source: Punch Newspaper
Flourish Africa, a non-profit organization founded by businesswoman Folorunso Alakija, recently empowered 515 female entrepreneurs through its latest training cohort, while increasing its total grant funding to N1.3 billion. During the Grant Award Ceremony and 8th Annual Conference held in Lagos, the organization awarded seed grants of up to N3 million to 100 graduates of its Business and Life Skills Training Programme.
The grant increase this year, raising the amount per recipient from N2 million to N3 million, reflects Flourish Africa’s dedication to addressing economic challenges and promoting sustainable growth across Africa. Since launching its initial N1 billion funding initiative, the program has achieved notable progress, training 1,539 female entrepreneurs and disbursing N400 million to 200 women-owned businesses, thereby boosting both local and national economic growth.
In her remarks, Alakija highlighted the transformative effect of empowering women, stating, “When women gain access to economic resources and equal opportunities, they enhance their own well-being along with that of their families. This empowerment allows them to engage in and influence economic decision-making within society, contributing to poverty reduction and economic growth.”
Themed “She-Champions: Elevating Women’s Participation in Economic Development,” this year’s conference gathered leading business figures to discuss gender equality’s role in economic decision-making. Ayodeji Megbope, CEO of No Left-Overs, referenced studies showing that closing the gender gap in workforce participation could boost global GDP by £28 trillion by 2025. Olufunto Igun, CEO of Sorami Enterprises, emphasized the importance of mentorship in helping women entrepreneurs achieve self-sufficiency and empower others.
Folarin Alakija, Executive Director of Flourish Africa, underscored the far-reaching economic benefits of investing in women, noting that education and business training are crucial for societal growth. The four-month training program offers comprehensive instruction in business strategy, finance, legal compliance, marketing, and human resources, equipping female entrepreneurs to build profitable and sustainable ventures.
Since its inception in 2021, Flourish Africa has set an ambitious goal to empower 2,500 female business owners by 2026, beginning in Nigeria with plans to expand across Africa. Alakija called on individuals and organizations to continue supporting the initiative, saying, “We aim to empower more African women to fulfill their potential. With ongoing support, we can extend our impact across the continent.”
