Folorunso Alakija Set To Sponsor 2,500 Female Businesses In Nigeria With N1 Billion Fund

Nigerian businesswoman, philanthropist and founder of Flourish Africa, Folorunso Alakija, has announced the launch of a N1 billion fund to promote female-owned businesses in Africa.

According to the statement announcing the fund, Mrs Alakija disclosed that the initiative would focus on supporting the entrepreneurial activities of at least 2500 female-owned businesses through funding and structured training over a period of 5 years.

In her announcement, she said “I’m happy to launch the Flourish Africa 1 billion Naira fund on my 70th birthday as a gift to hardworking and enterprising women. This initiative will focus on empowering women economically and socially for the benefit of their immediate families and the society.”

“She further explained that a minimum of 500 female micro-entrepreneurs would be trained annually. After the training, 100 audacious entrepreneurs from the pool will be able to access grants to the tune of N2 million each for their businesses from an annual fund of 200 million Naira.

Source: LinkedIn

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