By Ayomide Otitoju
FirstBank, a leading financial institution in West Africa, has reaffirmed its commitment to sustainable finance through an enhanced partnership with the United Nations Global Compact (UNGC). The renewed collaboration was spotlighted during the Fourth International Conference on Financing for Development (FfD4), recently held in Seville, Spain, and organized by the United Nations Department of Economic and Social Affairs (UN DESA).
The high-level conference convened global policymakers, development finance experts, and private sector leaders to explore innovative approaches to closing the growing financing gap for the Sustainable Development Goals (SDGs), particularly in fragile and underserved regions.
Representing FirstBank at the event, Chief Risk Officer Patrick Akhidenor showcased two of the bank’s flagship initiatives designed to bolster resilience and inclusive growth in Nigeria. These include the Solar Equipment Financing initiative, which offers tailored loans for the purchase and installation of solar energy systems, and the FirstGem Fund, a women-focused product providing single-digit interest loans without collateral to support female entrepreneurs in key sectors.
“We are committed to driving sustainable finance and unlocking capital for development,” Akhidenor said. “Our partnership with UNGC and our participation in the FfD4 Conference underscore our strategic focus on closing the SDG financing gap through innovative financial solutions.”
UNGC CEO Sanda Ojambo echoed this call for innovation and inclusivity in development financing. “The private sector must play a central role in shaping scalable, fit-for-purpose financial solutions,” Ojambo stated. “Blended finance and de-risking mechanisms are critical tools to mobilize capital and deliver measurable impact.”
Further demonstrating its leadership in the sustainable finance space, FirstBank continues to collaborate with Development Finance Institutions (DFIs) and leverage its SMEConnect platform to support small and medium-sized enterprises. The platform offers entrepreneurs access to training, finance, and networking opportunities across priority sectors such as healthcare, education, and retail.
The bank’s ongoing efforts position it as a key player in advancing inclusive economic growth and achieving long-term development objectives across the continent.
