Folorunsho Alakija via her women empowerment program, Flourish Africa has announced the launch of a N1bn fund set to promote female-owned businesses in Africa.
This information is contained in a statement issued on Thursday by the platform.
The statement disclosed that the initiative would focus on supporting the entrepreneurial activities of at least 2,500 female-owned businesses.
Alakija said, “I am happy to launch the Flourish Africa N1bn fund on my 70th birthday as a gift to hardworking and enterprising women. This initiative will empower women economically and socially for the benefit of their immediate families and the society”.
She explained that a minimum of 500 female entrepreneurs would be trained annually, after which 100 best performers from the pool would be able to access grants of up to N2m each from an annual fund of N200m.
The female empowerment platform is designed to help women achieve their full potential.