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, Head of Trust Services at STL Trustees, Adesola Aje, emphasised the significance of the initiative in fostering business growth for women.
“We are awarding a total of N3m to 30 women as part of our commitment to supporting female entrepreneurs. Each selected business owner will receive N100,000, which we believe will make a meaningful impact on their business,” Aje stated.
She explained that the selection process was rigorous due to the overwhelming number of applications received.
“Our selection criteria focused on the impact and potential of each applicant’s business. We assessed their achievements, the strategies they employed to reach their current level, and their vision for the future. The size of the business was not a determining factor; rather, we sought out women who have demonstrated resilience, innovation, and thoughtfulness in running their enterprises,” she noted.
Aje added that while this inaugural edition of STL FundHer was limited to 30 recipients, STL Trustees plans to expand the programme in future editions.
On her part, the Managing Director and Chief Executive Officer of STL Trustees, Funmi Ekundayo, applauded the beneficiaries for their dedication and perseverance despite economic challenges.
Ekundayo said, “Today is about celebrating you—strong, hard-working, and determined women who are building businesses and creating opportunities for yourselves and others. At STL, we believe that women are builders—we build homes, families, businesses, and communities. We launched STL FundHer to support women like you who are pushing forward despite economic challenges.”
She encouraged the entrepreneurs to maximise the opportunity by networking and learning from one another.
“You are here today because of your passion and commitment to your craft, whether as a tailor, hairdresser, trader, or entrepreneur in any field. We are proud of you and want to see you grow even bigger. This event is not just about the grant; it’s about learning, connecting, and finding ways to support one another. So, enjoy the moment, ask questions, and take every opportunity to grow,” she urged.
One of the beneficiaries, the founder of Becblaq Atelier, Rebecca Aremu, expressed gratitude for the initiative, saying, “I am grateful for this opportunity. This grant will help me grow my business, and the insights I gained from the event will enable me to not only expand my business but also make informed investments.”
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.
