Two prominent Nigerian organizations are joining forces to uplift women entrepreneurs in the beauty industry with an exclusive grant and support program.
Beauty Hut Africa, in partnership with Paystack, a top-tier fintech company, is rolling out a business empowerment initiative aimed at female-owned beauty ventures across Nigeria. The program promises funding up to ₦5 million, along with access to expert mentorship, targeted workshops, and a supportive entrepreneurial network.
According to the announcement shared online by Beauty Hut, this initiative is more than just financial aid—it’s a comprehensive platform to elevate women building brands in makeup, skincare, fragrances, and haircare.
“We’re excited to launch the Beauty Hut Grant alongside @paystackhq,” the company stated. “This is a rare opportunity for female beauty founders in Nigeria to receive ₦2 million in funding and up to ₦5 million in payment processing perks via Paystack—plus, gain insider knowledge, guidance from experienced mentors, and join a thriving sisterhood of beauty entrepreneurs.”
Application Deadline:
Entries must be submitted by Saturday, May 31, 2025. Businesswomen in the beauty space are encouraged to apply early and seize the opportunity to fuel their growth. The application form is accessible online.
The Booming Beauty Market in Nigeria
The Nigerian beauty and personal care sector is on a rapid upward trajectory. As reported by Euromonitor International, the market saw a dramatic surge in 2023, reaching $1.64 billion in sales despite tough economic conditions. This marks the most substantial growth in more than a decade.
The data highlights that consumers—particularly women—view personal care items such as skincare, oral hygiene, bath and shower products, and cosmetics as daily necessities. Among them, skincare leads the market with a massive $382.7 million in sales, followed by haircare ($270 million), deodorants ($242.1 million), and bath & shower essentials ($229.4 million).
More Support for Women Entrepreneurs
In a related development, Access Bank recently obtained a $100 million fund from international development partners to support female-led businesses across Nigeria. The facility, led by Germany’s DEG and supported by FinDev Canada, ILX Netherlands, and Austria’s DFI OeEB, signals a growing commitment to nurturing Nigeria’s small business ecosystem—especially those spearheaded by women.
