FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, has reinforced its commitment to empowering women-owned businesses with the successful execution of the maiden edition of Spark A Gem Challenge.
The initiative, a flagship Women-Preneur Pitch-a-Ton programme under the Bank’s FirstGem proposition, was designed to provide women entrepreneurs with access to business education, mentorship, ecosystem connections, and funding opportunities. It aligns with FirstBank’s vision of supporting women-led enterprises beyond access to finance, positioning the Bank as a long-term partner in growth.
The programme attracted significant interest from women entrepreneurs across Nigeria, recording 356 applications from businesses operating in sectors including agriculture, education, healthcare, food services, and other key areas of the economy.
Following a rigorous selection process, eight finalists emerged, and participated in an intensive four-day training and capacity-building programme, culminating in a Pitch Day where the finalists presented their businesses to an independent panel of judges.
Onyinye Obayi, Founder of Honeypot Confections Ltd, emerged as the grand prize winner of five million naira. The first and second runners up received three million and two million naira respectively, bringing the total grant awards to ten million naira. The wider pool of applicants has also been integrated into the FirstGem ecosystem, creating a strong pipeline for future banking relationships, credit, and advisory support.
Speaking on the initiative, Chuma Ezirim, Group Executive, e-Business and Retail Products, FirstBank, said, “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.
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 Spark A Gem Challenge was developed based on insights that women-owned businesses achieve stronger outcomes when access to finance is complemented by financial literacy, business management capabilities, mentorship, and access to supportive business networks.
The programme therefore integrates these critical elements into a structured development journey designed to improve business readiness, growth potential, and long-term success.
Through strategic programmes such as the Spark A Gem Challenge, FirstBank continues to championing women’s economic empowerment, advancing financial inclusion, while fostering innovation, enterprise development, and inclusive growth across the country.
