FirstBank backs women businesses, deepens inclusive enterprise growth
FirstBank has reinforced its commitment to women-led enterprise development with the successful completion of the maiden edition of its Spark A Gem Challenge, an initiative designed to strengthen financial inclusion, support entrepreneurship and deepen the growth of women-owned businesses across Nigeria.
The programme, a flagship Women-Preneur Pitch-a-Ton initiative under the bank’s FirstGem proposition, attracted 356 applications from women entrepreneurs operating across agriculture, education, healthcare, food services and other productive sectors of the economy.
Following a competitive selection process, eight finalists participated in a four-day capacity-building programme covering business management, financial literacy, mentorship and enterprise development before presenting their businesses to an independent panel of judges.
At the end of the competition, Onyinye Obayi, founder of Honeypot Confections Ltd, emerged as the overall winner, receiving a N5 million grant, while the first and second runners-up received N3 million and N2 million respectively, bringing the total grant support to N10 million.
Beyond the financial awards, FirstBank integrated all applicants into its FirstGem ecosystem to facilitate future access to banking services, credit opportunities and business advisory support.
Group Executive, e-Business and Retail Products, FirstBank, Chuma Ezirim, said the initiative reflects the bank’s long-term strategy of supporting women entrepreneurs with the skills, networks and financial tools required to build sustainable businesses.
He noted that women-owned enterprises remain critical contributors to economic growth, employment generation and community development, stressing that access to finance alone is insufficient to unlock their full economic potential.
According to him, the bank deliberately designed the programme to combine funding with business education, mentorship and ecosystem support to improve enterprise resilience and long-term performance.
The initiative reflects a broader shift within Nigeria’s banking industry towards development finance models that combine financial services with capacity building, recognising that stronger small and medium-sized enterprises can contribute significantly to job creation, innovation and inclusive economic growth.
By strengthening women-owned businesses, financial institutions are also helping to expand formal financial inclusion, improve enterprise survival rates and increase participation in productive sectors of the economy.
FirstBank said it would continue to leverage the FirstGem platform and similar initiatives to promote women entrepreneurship, enterprise development and financial inclusion while supporting sustainable economic growth across Nigeria.
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