By Ayomide Otitoju
FirstBank has reinforced its commitment to supporting women-owned businesses with the successful maiden edition of the Spark A Gem Challenge, a flagship Women-Preneur Pitch-a-Ton initiative under its FirstGem proposition.
The programme was designed to equip women entrepreneurs with business education, mentorship, ecosystem connections and funding opportunities, while strengthening the bank’s commitment to promoting financial inclusion and enterprise development.
According to FirstBank, the initiative attracted 356 applications from women-led businesses across Nigeria operating in sectors including agriculture, education, healthcare, food services and other key areas of the economy.
Following a competitive selection process, eight finalists participated in a four-day capacity-building programme before presenting their business ideas to an independent panel of judges during the final pitch session.
Onyinye Obayi, Founder of Honeypot Confections Ltd, emerged as the overall winner, receiving a ₦5 million grant. The first and second runners-up received ₦3 million and ₦2 million respectively, bringing the total prize money to ₦10 million.
Beyond the grant awards, FirstBank said all applicants have been integrated into the FirstGem ecosystem, providing opportunities for future banking relationships, access to credit and business advisory services.
Speaking on the initiative, the Group Executive, e-Business and Retail Products, Chuma Ezirim, said women entrepreneurs remain critical to economic growth, job creation and community development.
He noted that the Spark A Gem Challenge was deliberately designed to identify high-potential women-led businesses, strengthen their financial and business management capabilities, and support their long-term growth.
According to him, access to finance alone is not sufficient for business success, stressing that entrepreneurs perform better when funding is complemented by mentorship, financial literacy and strong business networks.
FirstBank said the programme was developed based on insights showing that women-owned businesses achieve better outcomes when financial support is combined with capacity building and advisory services.
The bank added that the initiative forms part of its broader strategy to promote women’s economic empowerment, deepen financial inclusion and foster innovation, entrepreneurship and inclusive economic growth across Nigeria.
