First Bank Awards ₦10m Grants to Women Entrepreneurs

First Bank of Nigeria Ltd. inaugurated the “Spark A Gem Challenge” to empower female business owners, awarding a total of ₦10 million in grants. This initiative is part of the bank's “Women Preneur Pitch-A-Ton” programme and “FirstGem” proposition.

The programme attracted 356 applications from women-owned businesses across various sectors, including agriculture, education, and healthcare. After a rigorous selection process, eight finalists participated in a four-day capacity-building programme before pitching their ideas to an independent panel.

Mrs. Onyinye Obayi, founder of Honeypot Confections Ltd., emerged as the overall winner, receiving a ₦5 million grant, while the first and second runners-up received ₦3 million and ₦2 million, respectively. All applicants were integrated into the FirstGem ecosystem, gaining access to banking services and advisory support.

Mr. Chuma Ezirim, Group Executive of e-Business and Retail Products at FirstBank, stated that the initiative aims to enhance women's economic empowerment and promote sustainable business growth.