FirstBank Unveils N10 Million Business Grants for Women Entrepreneurs
- FirstBank launched its inaugural Spark A Gem Challenge under the Women-Preneur Pitch-a-Ton programme
- The challenge drew 356 applications from women entrepreneurs in sectors ranging from agriculture to hospitality
- All applicants, including non-winners, will gain access to the FirstGem platform offering financing and mentorship
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FirstBank has awarded N10 million in grants to female business owners through its inaugural Spark A Gem Challenge, a competition run under the bank's Women-Preneur Pitch-a-Ton programme designed to unlock growth opportunities for women-led businesses in Nigeria.
The competition drew 356 applications from women entrepreneurs operating across multiple sectors, including agriculture, healthcare, education, food processing, and hospitality.
Source: Getty Images
After a thorough screening exercise, eight finalists were selected and enrolled in a four-day entrepreneurial development programme before presenting their businesses to an independent panel of judges.
How the N10 Million Was Shared
Onyinye Obayi, Managing Director of Honeypot Confections Ltd, won the top prize of N5 million after emerging as the overall winner of the challenge.
The second- and third-place finalists received N3 million and N2 million respectively, bringing the combined grant total to N10 million.
Beyond the cash prizes, FirstBank said every applicant who entered the challenge will be enrolled into its FirstGem ecosystem, regardless of where they placed in the competition.
Through the platform, participants can access financing, financial education, business advisory services, mentorship, and networking programmes built specifically for women entrepreneurs.
Why FirstBank Created the Programme
Chuma Ezirim, Group Executive for e-Business and Retail Products at FirstBank, said the bank's investment in women-owned businesses is central to its broader goal of driving inclusive economic growth across the country.
He noted that women entrepreneurs play a significant role in job creation, community development, and economic transformation, and that sustained, structured support is what enables their businesses to thrive.
Ezirim said:
"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."
Source: Getty Images
The bank said research shaped the design of the programme, with evidence showing that women-led businesses record better outcomes when funding comes alongside financial literacy training, management development, and mentorship.
The Sun reports FirstBank described Spark A Gem as a business acceleration initiative aimed at improving the investment readiness and long-term growth potential of participating entrepreneurs.
The bank said it remains committed to expanding financial inclusion by helping women build businesses capable of generating employment, driving innovation, and contributing to Nigeria's economic development.
MTN Foundation opens application portal for 2026 scholarship
Earlier, Legit.ng reported that the MTN Foundation has opened applications for its 2026 scholarship programs to help students in Nigeria’s public tertiary institutions.
The Foundation disclosed that the application includes its Science and Technology Scholarship (STS) and the scholarship for Blind Students (SBS), and another newly launched category specifically for medical students
While 400 beneficiaries will be chosen, 100 will be reserved for medical students.
Source: Legit.ng
