STL Trustees, a leading trust company in Nigeria, has demonstrated its commitment to empowering women entrepreneurs through the launch of its groundbreaking initiative, STL FundHer. Coinciding with International Women’s Day, the program awarded grants totaling N3 million to 30 women-led businesses across diverse sectors. This inaugural edition of STL FundHer provided each recipient with N100,000 in seed funding, intended to bolster their existing operations and fuel further expansion. The initiative showcases STL Trustees’ dedication to fostering financial inclusion and promoting economic growth driven by women-led businesses.
The selection process for the STL FundHer grant recipients was rigorous, reflecting the overwhelming interest and the high caliber of applicants. STL Trustees prioritized the potential impact of each business, evaluating the entrepreneurs’ achievements, strategies, and future visions. The emphasis was placed on resilience, innovation, and strategic thinking rather than the sheer size of the enterprise. This approach ensured that the grants reached women who demonstrated a clear understanding of their businesses and a commitment to growth, regardless of the current scale of their operations. The diverse range of businesses represented among the recipients highlighted the breadth of female entrepreneurial talent in Nigeria.
Adesola Aje, Head of Trust Services at STL Trustees, articulated the company’s vision for the initiative, emphasizing its role in supporting the growth of women-led businesses. The N100,000 grant provided to each recipient represents a meaningful injection of capital, enabling them to invest in their businesses and scale their operations. Aje highlighted the meticulous selection process, underscoring the commitment to identifying businesses with the highest potential for impact. She also confirmed that STL Trustees plans to expand the STL FundHer program in future editions, reaching even more women entrepreneurs across Nigeria.
Funmi Ekundayo, Managing Director and CEO of STL Trustees, commended the beneficiaries for their unwavering dedication and perseverance in navigating the challenging economic landscape. She emphasized the crucial role women play in building not only businesses but also homes, families, and communities. The STL FundHer initiative is a testament to the company’s belief in the transformative power of women-led enterprises. Ekundayo encouraged the recipients to leverage the opportunity to network, learn from one another, and foster a supportive community.
The grant award ceremony also served as a platform for networking and knowledge sharing. The recipients were encouraged to engage with each other, share experiences, and learn from their collective expertise. This fostering of a collaborative environment further strengthens the impact of the STL FundHer initiative, creating a sustainable network of women entrepreneurs who can support and inspire each other. Rebecca Aremu, founder of Becblaq Atelier and one of the beneficiaries, expressed her gratitude for the grant and the valuable insights gained from the event, highlighting the multifaceted benefits of the program.
The STL FundHer initiative aligns seamlessly with STL Trustees’ broader corporate social responsibility strategy, which focuses on financial empowerment and business sustainability, particularly for women. The company’s commitment to this initiative signals a long-term investment in the growth and development of women-led businesses in Nigeria. By providing financial support, fostering a collaborative environment, and celebrating the achievements of female entrepreneurs, STL Trustees is playing a vital role in shaping a more inclusive and dynamic economic landscape. The program’s planned expansion promises to further amplify its impact, empowering more women to realize their entrepreneurial potential and contribute to the economic prosperity of the nation.
