Follow Us on Google
By Chinwendu Obienyi
FirstBank has intensified efforts to strengthen women entrepreneurship in Nigeria, rewarding outstanding female business owners with N10 million in grants under the maiden edition of its Spark A Gem Challenge, while opening up broader opportunities for hundreds of women entrepreneurs through its FirstGem platform.
The initiative, introduced under the bank’s Women-Preneur Pitch-a-Ton programme, is aimed at helping women-owned businesses overcome common growth barriers by providing access to funding, business training, mentorship and strategic networking opportunities.
The competition drew 356 entries from women entrepreneurs across the country, with participants representing diverse sectors, including agriculture, healthcare, education, food processing and hospitality.
After a competitive screening process, eight entrepreneurs advanced to the final stage, where they underwent a four-day entrepreneurial development programme before pitching their businesses before a panel of independent judges.
At the end of the contest, Onyinye Obayi, Managing Director of Honeypot Confections Ltd, emerged winner of the top prize of N5 million. The second and third-placed contestants received N3 million and N2 million respectively, bringing the total prize money awarded to N10 million.
FirstBank said the initiative extends beyond the winners, noting that every applicant would become part of its growing FirstGem ecosystem, enabling them to benefit from future financing opportunities, business advisory services, financial education and other value-added support designed for women entrepreneurs.
Explaining the rationale behind the programme, the Group Executive for e-Business and Retail Products at FirstBank, Chuma Ezirim, said empowering women-owned businesses remains central to the bank’s long-term strategy for driving inclusive economic development.
Other News
“When women thrive, economies thrive. At FirstBank, we recognize that women entrepreneurs play a critical role in driving economic growth, job creation, and community development. Spark A Gem Challenge was deliberately structured as a controlled funnel that identifies promising women-led businesses, equips them with critical financial and business capabilities, and converts the most viable into sustainable FirstGem banking relationships.”
Ezirim stressed that financing alone is insufficient to guarantee business success, adding that sustainable enterprises require knowledge, mentorship and access to the right business ecosystem.
“We have seen that access to finance alone is not enough. Women entrepreneurs perform better when capital is paired with the right capabilities, networks, and support. With Spark A Gem, we are positioning FirstBank as a long-term partner in growth for women.”
The bank said the challenge was conceived after recognising that women-owned enterprises record better outcomes when access to credit is complemented by financial literacy, management skills and strong support networks.
It added that Spark A Gem has been designed as a structured business acceleration programme that prepares women entrepreneurs for long-term success by improving their managerial capacity, investment readiness and growth prospects.
According to FirstBank, the initiative reflects its commitment to expanding financial inclusion and creating opportunities for women to build resilient businesses that contribute to national economic growth, employment creation and innovation.
The bank reaffirmed its resolve to continue investing in programmes that support female entrepreneurs, describing women-owned businesses as a critical driver of Nigeria’s sustainable economic development.
