First Bank of Nigeria Ltd. (FirstBank) has strengthened its support for women entrepreneurship with the launch of the Spark A Gem Challenge, awarding N10 million in grants to outstanding women-owned businesses.
The bank said the initiative, a flagship programme under its Women Preneur Pitch-A-Ton programme and FirstGem proposition, is designed to provide women entrepreneurs with business training, mentorship, networking opportunities and funding support.
According to the bank, the challenge attracted 356 applications from women-owned businesses across sectors including agriculture, education, healthcare and food services.
Following a rigorous selection process, eight finalists participated in a four-day capacity-building programme before presenting their business ideas to an independent panel of judges.
Mrs Onyinye Obayi, founder of Honeypot Confections Ltd., emerged as the overall winner and received a N5 million grant, while the first and second runners-up received N3 million and N2 million respectively.
The bank added that all applicants had been integrated into its FirstGem ecosystem, giving them access to banking services, advisory support and future credit opportunities.
Mr Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said the initiative demonstrates the bank’s commitment to supporting women beyond financial assistance.
He said women entrepreneurs play a vital role in driving economic growth, job creation and community development, adding that the challenge was designed to strengthen their financial and business capabilities for long-term success.
Ezirim noted that funding alone was not enough for business success, stressing that mentorship, financial literacy and strong business networks were equally important.
He added that the initiative aligns with FirstBank’s vision of advancing women’s economic empowerment, deepening financial inclusion and promoting inclusive economic growth across Nigeria.
