First Bank of Nigeria has pumped ₦10 million into women-owned businesses after unveiling its “Spark A Gem Challenge,” a programme aimed at helping female entrepreneurs grow and succeed.
The bank said the initiative, launched under its Women Preneur Pitch-A-Ton and FirstGem programmes, offers more than just cash, providing business training, mentorship, networking opportunities and funding support.
A total of 356 women-owned businesses from sectors including agriculture, education, healthcare and food services applied for the competition. After a tough screening process, eight finalists took part in a four-day business boot camp before pitching their ideas to an independent panel.
At the end of the contest, Onyinye Obayi, founder of Honeypot Confections Ltd., emerged the overall winner, walking away with a ₦5 million grant.
The first runner-up received ₦3 million, while the second runner-up got ₦2 million, bringing the total prize money to ₦10 million.
FirstBank also announced that every applicant has been enrolled in its FirstGem platform, giving them access to banking services, expert business advice and future loan opportunities.
Speaking on the initiative, Group Executive for e-Business and Retail Products, Chuma Ezirim, said the bank remains committed to empowering women with the tools they need to succeed.
According to him, women-owned businesses perform better when financial support is combined with mentorship, financial literacy and strong business networks.
He said the challenge was created to strengthen women-led businesses, promote financial inclusion and drive sustainable economic growth across Nigeria.
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