First Bank of Nigeria Ltd. has reinforced its commitment to women entrepreneurship with the inauguration of the “Spark A Gem Challenge,” awarding N10 million in grants to outstanding women-owned businesses.
A statement by the bank on Sunday in Lagos said the initiative was a flagship programme under its “Women Preneur Pitch-A-Ton” programme and “FirstGem” proposition.
It said the initiative was designed to provide women entrepreneurs with business training, mentorship, networking opportunities and funding support.
According to the bank, the programme attracted 356 applications from women-owned businesses operating in agriculture, education, healthcare, food services and other sectors of the economy.
It added that after a rigorous selection process, eight finalists underwent a four-day capacity-building programme before pitching their business ideas to an independent panel of judges.
The bank said Mrs Onyinye Obayi, founder of Honeypot Confections Ltd., emerged as the overall winner, receiving a N5 million grant.
It also said the
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