FirstBank has crowned the winner of its inaugural Spark A Gem Challenge, a nationwide competition designed to identify, empower, and accelerate women-led businesses across Nigeria. The contest attracted 356 entries from female entrepreneurs spanning diverse sectors, including agriculture, healthcare, education, food processing, and hospitality.
Following a rigorous screening process, eight finalists emerged and participated in a four-day entrepreneurial development programme before pitching their business models to an independent panel of judges.
Top Prizes Awarded
At the grand finale, Onyinye Obayi, Managing Director of Honeypot Confections Ltd, clinched the top prize of N5 million. The first and second runners-up received N3 million and N2 million respectively, bringing the total prize purse to N10 million.
Beyond the Prize: A Lasting Ecosystem
FirstBank emphasized that the initiative extends far beyond the winners. Every applicant will be integrated into the bank’s FirstGem ecosystem, gaining access to future financing opportunities, business advisory services, financial education, and other value-added support designed specifically for women entrepreneurs.
A Strategic Commitment to Women’s Empowerment
Speaking on the programme’s rationale, Chuma Ezirim, FirstBank’s Group Executive for e-Business and Retail Products, said empowering women-owned businesses is central to the bank’s long-term strategy for inclusive economic development.
“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,” he said.
Ezirim stressed that financing alone is insufficient to guarantee business success—sustainable enterprises require knowledge, mentorship, and access to the right business ecosystem.
“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,” he added.
A Holistic Approach to Business Acceleration
The bank noted that the challenge was conceived after recognizing that women-owned enterprises achieve better outcomes when access to credit is complemented by financial literacy, management skills, and strong support networks.
Spark A Gem has been designed as a structured business acceleration programme that prepares women entrepreneurs for long-term success by improving their managerial capacity, investment readiness, and growth prospects.
A Broader Vision
According to FirstBank, the initiative reflects its commitment to expanding financial inclusion and creating opportunities for women to build resilient businesses that contribute to national economic growth, employment creation, and innovation.
The bank reaffirmed its resolve to continue investing in programmes that support female entrepreneurs, describing women-owned businesses as a critical driver of Nigeria’s sustainable economic development.
