Flourish Africa Grants N300m to Women Entrepreneurs

Flourish Africa, a women-focused empowerment initiative founded by philanthropist Apostle Folorunsho Alakija, has awarded N300 million in grants to 100 women entrepreneurs across Nigeria. The announcement was made at the organisation’s ninth annual conference in Lagos, themed ‘She Champions’, which convened entrepreneurs, regulators, development partners, and private-sector leaders.

The grants concluded the fourth cycle of the Flourish Africa Grants Programme. Following a nationwide call, 506 women entrepreneurs completed intensive business training. Of these, 409 submitted comprehensive business plans; 200 advanced to a rigorous pitch stage before an independent panel of judges. Ultimately, 100 businesses were selected to each receive N3 million.

The founder, Alakija, emphasised that the programme’s structure prioritises merit, preparedness, and accountability. “We designed this process to be rigorous because Nigerian women entrepreneurs are capable of building serious businesses,” she stated. “Out of 506 women trained, only 100 emerged for funding. That discipline matters because access to capital must be matched with capacity, structure, and accountability if businesses are to survive and scale.”

Flourish Africa notes that Nigeria consistently ranks among countries with the highest rates of female entrepreneurship globally. However, many women-owned enterprises struggle to access formal finance and scalable growth opportunities. The initiative aims to bridge this gap by integrating skills development with exposure to investment and governance standards.

The selected beneficiaries operate across diverse sectors including manufacturing, agribusiness, food processing, fashion, beauty, and services. Judges for this cycle reportedly observed improved presentation quality, clearer business models, and stronger market articulation compared to previous cohorts, though they also highlighted a continued need for deeper financial literacy among participants.

Beyond direct funding, the programme strongly emphasises business governance, meticulous record-keeping, and scalability strategies to prepare entrepreneurs for engagement with formal lenders and investors. “Women are already driving Nigeria’s informal and small-business economy,” Alakija added. “What Flourish Africa is doing is formalising that strength by equipping women with skills, governance, and funding. When women succeed in business, they reinvest in their families and communities, creating a multiplier effect that drives inclusive economic growth.”

As economic pressures challenge small businesses nationwide, targeted support for sustainable women-led enterprises is seen as critical for job creation and local economic development. Each beneficiary under this cycle will receive the N3 million grant to implement their vetted business plans.