FirstBank, one of West Africa’s leading financial institutions, has deepened its partnership with the United Nations Global Compact (UNGC) as part of ongoing efforts to promote sustainable finance and unlock development capital, particularly in underserved and vulnerable communities.
The renewed commitment was formalized at the Fourth International Conference on Financing for Development (FfD4), organized by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain. The event brought together global leaders, policymakers, and private sector stakeholders to address the widening Sustainable Development Goals (SDG) financing gap and explore strategies to mobilize capital in fragile economies.
Speaking at the conference, FirstBank’s Chief Risk Officer, Patrick Akhidenor, highlighted the bank’s innovative financial products designed to promote inclusive economic growth in Nigeria. These include the Solar Equipment Financing initiative, which provides tailored loans for the purchase and installation of solar power systems, and the revamped FirstGem Fund, which offers collateral-free, single-digit interest loans to women entrepreneurs.
“These initiatives reflect our strategic commitment to delivering finance solutions that are sustainable, inclusive, and impact-driven,” Akhidenor said. “Our continued collaboration with UNGC, alongside our presence at global platforms like FfD4, demonstrates FirstBank’s role in bridging capital gaps and accelerating development.”
The FirstGem Fund is particularly aimed at empowering women in sectors that are often underfunded, such as agriculture, education, and healthcare, while the Solar Equipment Financing initiative supports the transition to clean and reliable energy in areas with limited access to power.
UNGC CEO Sanda Ojambo, also speaking at the event, called for stronger private sector participation in shaping financial instruments tailored to underserved markets. “The role of banks and businesses in designing scalable, inclusive financial models cannot be overstated,” Ojambo said. “Blended finance approaches and de-risking mechanisms are vital tools for unlocking much-needed capital.”
Beyond its flagship lending initiatives, FirstBank is actively working with Development Finance Institutions (DFIs) and leveraging its SMEConnect hub, a platform that offers small businesses access to training, funding, and business advisory services. The bank’s strategy reflects a broader vision to support Nigeria’s path to achieving the SDGs and sustainable economic transformation.
As global attention turns toward sustainable development and climate resilience, FirstBank’s strengthened alliance with UNGC positions the institution as a key player in the financial sector’s response to development challenges across Africa.
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