STL Trustees Awards N3 Million in Grants to 30 Women-Led Businesses

• Grants amounting to N3 million have been awarded by STL Trustees to 30 women-led businesses
• This initiative showcases STL Trustees' commitment to the promotion of women business owners in Nigeria
• STL FundHer is being launched to mark International Women's Day

STL Trustees has announced the funding of 3 million naira to 30 women-led businesses via the recently inaugurated STL FundHer initiative. This signifies their commitment to encouraging female entrepreneurs across Nigeria. The program was launched in celebration of International Women's Day.

Over the weekend, each of the selected business owners received financial support in the sum of N100, 000 to bolster and expand their enterprises. Highlighting the importance of the initiative in fostering growth and development of women in business, the Head of Trust Services at STL Trustees, Adesola Aramide Aje, during the award ceremony said “As a commitment to supporting female entrepreneurs, we are awarding N3 million to 30 women. Each recipient will thus receive N100, 000, which we believe will be significantly impactful for their businesses,” Adesola stated.

She added that the selection process was very competitive considering the numerous applications that were received. "Our selection criteria were based on the impact and potential of each business. We considered their achievements to this point, the strategies they have used to reach where they are today and their vision for the future. The size of the business was not a factor." “We were looking for women who have exhibited resilience, innovation, and deliberate thinking in managing their businesses,” she continued.

While this first edition was restricted to 30 recipients, Aje assured that STL Trustees was looking at widening the program in the forthcoming editions. Funmi Ekundayo, MD/CEO of STL Trustees congratulated the beneficiaries for their hard work and determination against prevailing economic challenges.

“Today is about celebrating you—strong, determined women who are building businesses and creating opportunities for yourselves and others. At STL, we believe women are builders we build homes, families, businesses, and communities. We launched STL FundHer to support women like you, who keep moving forward despite the challenges,” Funmi remarked.

She urged the entrepreneurs to take this opportunity for networking and learning from each other. “You are here today because of your passion and dedication to your craft, whether a tailor, hairdresser, trader, or any field of entrepreneurship. We are proud of you and can't wait to see you go further. This event is about more than the grant it is about learning, networking, and supporting each other. So make the most of this opportunity ask questions and take every chance to advance," she said.