Flourish Africa, a women-focused empowerment initiative founded by Apostle Folorunsho Alakija, has rolled out N300m in grants for women entrepreneurs across the country, following a rigorous national training and business pitch process.
The grant announcement was made at Flourish Africa’s ninth annual conference in Lagos, held under the theme ‘She Champions’, which brought together entrepreneurs, regulators, development partners, and private-sector leaders.
The grants were awarded under the fourth cycle of the Flourish Africa Grants Programme, during which 506 women entrepreneurs underwent intensive business training.
Out of this number, 409 participants submitted business plans, 200 advanced to the pitch stage, and 100 businesses were eventually selected to receive N3m each after evaluation by an independent panel of judges.
According to the founder of Flourish Africa, Alakija, the structure of the programme was deliberately designed to emphasise merit, preparedness, and accountability among beneficiaries.
“We designed this process to be rigorous because Nigerian women entrepreneurs are capable of building serious businesses. 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,” Alakija was quoted as saying, according to a statement on Sunday.
The organisation maintained that Nigeria has one of the highest rates of female entrepreneurship globally, yet many women-owned businesses continue to face challenges in accessing formal finance and growth opportunities.
Flourish Africa’s intervention, it was said, seeks to bridge this gap by combining skills development with practical exposure to investment and governance standards.
The selected businesses cut across sectors such as manufacturing, agribusiness, food processing, fashion, beauty, and services.
Judges involved in the process reportedly observed improved presentation quality, clearer business models, and stronger market articulation among participants compared to previous cohorts, while also highlighting the need for deeper financial literacy.
Beyond funding, the programme places strong emphasis on business governance, record-keeping, and scalability, with the aim of preparing participants for engagement with lenders, investors, and institutional markets.
“Women are already driving Nigeria’s informal and small-business economy. 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,” Alakija added.
As economic pressures continue to weigh on small businesses nationwide, initiatives aimed at strengthening sustainable women-led enterprises are expected to play a growing role in job creation and local economic development. Under the scheme, each beneficiary is expected to get N3m each.
