FirstBank empowers female entrepreneurs with ₦10m funding initiative

FirstBank has reaffirmed its commitment to supporting women entrepreneurs by awarding ₦10 million in grants to outstanding women-owned businesses through its Spark A Gem Challenge. The initiative, launched under the bank's Women Preneur Pitch-A Ton programme and FirstGem platform, aims to equip female business owners with funding, mentorship, business development training and networking opportunities to help them grow sustainable enterprises. The competition attracted 356 applications from women operating in sectors such as agriculture, education, healthcare, food services and other key industries. After a rigorous selection process, eight finalists took part in an intensive four-day business development programme before pitching their ideas to an independent panel of judges.

At the end of the competition, Onyinye Obayi, founder of Honeypot Confections Limited, emerged as the overall winner, receiving a ₦5 million grant. The first and second runners-up were awarded ₦3 million and ₦2 million respectively, bringing the total prize fund to ₦10 million. Speaking on the initiative, FirstBank's Group Executive for e-Business and Retail Products, Chuma Ezirim, said empowering women entrepreneurs goes beyond providing access to finance. He noted that business success is strengthened when funding is combined with mentorship, financial literacy and access to strong professional networks. He added that women-owned businesses play a vital role in driving economic growth, creating jobs and supporting communities, making continued investment in their development essential. According to the bank, the initiative forms part of its broader efforts to promote financial inclusion, strengthen women-led enterprises and contribute to inclusive economic growth across Nigeria.

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