The Carol & Prince Arheghan Foundation has awarded ₦2 million in grants to support emerging entrepreneurs, reinforcing its commitment to youth empowerment and grassroots business development.

The disbursement took place during the 2025 Business Summit, held at The Emunah Conference Centre, Shasha, Akowonjo, Lagos, and drew participants from across the city’s small and medium enterprise sector.

Four beneficiaries received ₦500,000 each, a move the foundation said was intended to provide practical support for young business owners seeking to scale their operations and adapt to the shifting economic climate.

Speaking at the summit, Carol Arheghan, Creative Director and Chief Executive Officer of Karotiz Couture, and host of the event, said, “The grants are part of our ongoing effort to encourage innovation and provide real, tangible support to emerging entrepreneurs. We believe that empowering youth at the grassroots level is critical for building resilient businesses that can withstand economic challenges.”

The summit, organised by the Carol & Prince Arheghan Foundation with support from the Bank of Industry, was themed “Thriving Through Innovation: Future-Proofing African Businesses in a Shifting & Challenging Economy.” It included contributions from Prince Arheghan, Chairman of Karotiz Couture; Dr Jamie Pajoel, Founder and Chief Executive Officer of JMP Leadership Institute, Canada; business strategist Olushola Olayeye; financial coach Coach Nancy; media personality Treasure Kalu; and Gabriel J. Nissim, founder of Gabi Media. Speakers addressed topics including leadership development, technology adoption, brand positioning, and business resilience.

Mr Prince Arheghan, Chairman of Karotiz Couture, said the grant initiative aimed to bridge the gap between opportunity and capacity for young business owners. “We are not just talking about business growth; we are putting resources directly into the hands of those who are prepared to innovate and expand,” he said.

Open to the public at no cost, the summit offered attendees a platform to engage with industry experts, investors, and fellow entrepreneurs, with a focus on practical strategies for navigating rising operational costs, evolving consumer behaviour, and digital transformation.

The event reaffirmed the foundation’s mission to foster entrepreneurship and leadership development across Africa, positioning innovation and targeted financial support as key drivers of sustainable business growth.