Flourish Africa, a leading non-governmental organization dedicated to empowering women across Africa, has completed the training of its third cohort of 515 female entrepreneurs. The organization has also raised its grant funding to a remarkable N1.3 billion, marking a significant milestone in its mission to promote economic independence among African women.
The organization, founded by prominent Nigerian businesswoman and philanthropist, Apostle Folorunso Alakija, hosted a Grant Award Ceremony and the 8th Annual Conference in Lagos, where it celebrated the achievements of 100 women graduates from the Business and Life Skills Training Programme. These women were recognized for their exceptional performance in business pitch competitions, with each receiving seed grants of up to N3 million. The increase in the grant amount, from N2 million to N3 million per recipient, was a direct response to the current economic challenges in the region and underscores Flourish Africa’s commitment to addressing these challenges by providing sustainable support to female entrepreneurs.
Apostle Folorunso Alakija, speaking at the ceremony, emphasized the profound impact that economic empowerment has on women and their communities. “When women have access to economic resources and equal opportunities, they improve their well-being and that of their families,” she said. “This empowerment enables them to participate in and influence economic decision-making within society, thereby contributing to eradicating poverty and fostering economic growth.”
The conference, themed “She-Champions: Elevating Women’s Participation in Economic Development”, brought together some of the most influential business leaders to discuss the importance of women’s economic participation. One of the key speakers, Ayodeji Megbope, Founder and CEO of No Left-Overs, shared eye-opening research showing that closing the gender gap in labor force participation could add an estimated £28 trillion to global GDP by 2025.
Olufunto Igun, CEO of Sorami Enterprises, also highlighted the importance of mentorship for entrepreneurial success. She stressed that “Trust, mutual respect, and setting SMART goals are essential. With effective mentorship, women entrepreneurs become self-sufficient and can empower others.” Igun’s words resonated with many of the attendees, reinforcing the idea that strong support networks and guidance are critical for the growth of female-owned businesses.
Flourish Africa, which Apostle Alakija established as a platform to advance African women, is increasingly seen as a catalyst for women’s empowerment across the continent. Through initiatives like the Business and Life Skills Training Programme, the organization provides young women with the tools, knowledge, and networks they need to succeed in both their professional and personal lives. Flourish Africa aims to equip women not only with business acumen but also with the self-confidence to lead in all areas of their lives.
Apostle Alakija’s dedication to seeing women thrive led to the launch of a N1 billion fund for female entrepreneurs in Africa, unveiled on her 70th birthday in July 2021. This fund is designed to further fuel the growth of female-owned businesses across the continent, offering much-needed financial support and mentorship opportunities to women striving to take their businesses to the next level. With the increase in the fund to N1.3 billion, Flourish Africa continues to make strides towards ensuring that more women have access to capital, resources, and opportunities to succeed.
As the organization looks towards the future, Flourish Africa’s commitment to supporting African women remains unwavering. Its vision is clear: to create a continent where women not only have equal access to opportunities but are also empowered to lead, influence, and contribute meaningfully to the economic development of their communities. With each new cohort of entrepreneurs trained, and each new grant awarded, Flourish Africa takes a step closer to realizing that vision.