Leading trust company STL Trustees has awarded a total of N3m in grants to 30 women-led businesses through its newly launched STL FundHer initiative.
According to a statement from the company on Saturday, the grant reflected its commitment to empowering female entrepreneurs in Nigeria and was launched in celebration of this year’s International Women’s Day.
Each selected business owner received N100,000 over the weekend to support and expand their enterprises.
Speaking at the award ceremony, the Head of Trust Services at STL Trustees, Adesola Aje, highlighted the importance of the initiative in promoting business growth among women. She stated that the company was awarding N3m to 30 women as part of its commitment to supporting female entrepreneurs, adding that each beneficiary would receive N100,000 to boost their business.
Aje explained that the selection process was rigorous due to the overwhelming number of applications. She noted that the evaluation focused on the impact and potential of each applicant’s business, considering their achievements, strategies, and future vision. She clarified that the size of the business was not a key factor, but rather, the resilience, innovation, and strategic planning demonstrated by the women entrepreneurs.
She further revealed that while this inaugural edition of STL FundHer was limited to 30 recipients, STL Trustees planned to expand the programme in subsequent editions.
The Managing Director and Chief Executive Officer of STL Trustees, Funmi Ekundayo, commended the beneficiaries for their resilience and dedication despite economic challenges. She emphasised that the event was a celebration of strong and hardworking women who were building businesses and creating opportunities for themselves and others. She stated that STL Trustees believed women were builders of homes, families, businesses, and communities, which was the driving force behind launching STL FundHer to support them.
Ekundayo encouraged the entrepreneurs to make the most of the opportunity by networking and learning from one another. She pointed out that the grant was not just about financial support but also about fostering connections, gaining knowledge, and finding ways to grow together. She urged the recipients to ask questions and take advantage of every opportunity to develop their businesses.
One of the beneficiaries, the founder of Becblaq Atelier, Rebecca Aremu, expressed gratitude for the initiative. She said the grant would help her grow her business and that the insights she gained from the event would enable her to make informed investment decisions and expand her enterprise.
The launch of STL FundHer aligns with STL Trustees’ broader corporate social responsibility strategy, focusing on financial empowerment and business sustainability for women. The initiative is expected to become a recurring programme, further expanding its reach and impact on female entrepreneurs in Nigeria.
