FirstBank Unveils ₦10m Grant to Boost Women-Owned Businesses

FirstBank has launched a ₦10 million grant initiative aimed at accelerating the growth of women-owned businesses, reaffirming its commitment to empowering female entrepreneurs and strengthening Nigeria’s small business sector.

The funding programme, introduced through the bank’s Spark-A-Gem Challenge, is designed to support women-led micro, small and medium-sized enterprises (MSMEs) with not only financial grants but also mentorship, business development support and access to valuable networking opportunities.

Open to both existing and prospective FirstGem customers, the challenge invites female entrepreneurs to present innovative business ideas and growth plans. Successful applicants will receive grants to expand their operations, create employment opportunities, improve productivity and build more sustainable enterprises.

Beyond the financial support, beneficiaries will gain access to training programmes, expert mentorship and FirstBank’s broader business ecosystem, equipping them with the skills and resources needed to compete in today’s evolving business environment.

The initiative builds on the bank’s longstanding efforts to champion women’s economic empowerment through its FirstGem proposition, which provides tailored banking solutions, advisory services and financing options for women. Over the years, FirstBank has also collaborated with organisations such as the ELOY Foundation and global development partners to improve access to funding and capacity-building opportunities for female entrepreneurs.

According to the bank, investing in women-led businesses is essential to driving innovation, creating jobs and stimulating inclusive economic growth. By helping women overcome financing challenges and scale their enterprises, FirstBank hopes to nurture stronger businesses that will make lasting contributions to Nigeria’s economy.

With many entrepreneurs facing rising operational costs and limited access to capital, the ₦10 million Spark-A-Gem Challenge offers a timely opportunity for ambitious women to transform promising ideas into thriving businesses while reinforcing FirstBank’s position as a key supporter of entrepreneurship and financial inclusion.