FirstBank, West Africa’s premier financial institution and a leading force in financial inclusion, has reaffirmed its commitment to sustainable finance and development by strengthening its collaboration with the United Nations Global Compact (UNGC).
The bank’s renewed commitment came to the fore at the recently concluded Fourth International Conference on Financing for Development (FfD4), hosted by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain.
The conference convened global leaders, policymakers, and private sector experts to chart innovative pathways for closing the widening SDG financing gap and unlocking capital for development in fragile and underserved regions across the globe.
Representing FirstBank at the high-level forum, the bank’s Chief Risk Officer, Patrick Akhidenor, showcased two flagship initiatives as prime examples of how Nigerian financial institutions can drive inclusive and resilient growth: the Solar Equipment Financing initiative and the revamped FirstGem Fund.
According to Akhidenor, “the Solar Equipment Financing initiative provides tailored financial support for the acquisition and installation of solar power systems.
“The goal is to promote access to clean, affordable, and reliable energy, particularly in underserved and off-grid areas.”
This initiative, he noted, aligns with the UN’s push for climate action and energy equity under the Sustainable Development Goals (SDGs).
On the other hand, the FirstGem Fund is a dedicated intervention programme targeted at women entrepreneurs. Offering single-digit interest loans without collateral, the fund helps women access capital in sectors where financing gaps have remained persistent.
“We are committed to driving sustainable finance and unlocking capital for development.
“Our partnership with UNGC and participation in the FfD4 Conference demonstrate our dedication to innovative finance solutions that address the SDG financing gap,” Akhidenor said.
UNGC CEO, Sanda Ojambo, commended FirstBank’s initiatives and emphasised the need for inclusive financial models that serve vulnerable regions.
“The private sector must play a central role in shaping fit-for-purpose, scalable finance solutions.
“De-risking tools and blended finance can help unlock capital and drive meaningful impact,” Ojambo said.
Beyond its targeted programs, FirstBank’s broader commitment to sustainable finance is reflected in its longstanding partnerships with Development Finance Institutions (DFIs), as well as its SMEConnect hub, a platform that delivers training, networking opportunities, and tailored financing for small and medium-sized enterprises (SMEs) across education, healthcare, retail, and other critical sectors.
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