PalmPay backs grassroots entrepreneurship with N2m Hustle Grant campaign

Onome Amuge

PalmPay, one of Nigeria’s leading neobanks, has announced the first beneficiaries of its N2 million Hustle Grant campaign, an initiative designed to give small business owners and entrepreneurs the resources to scale their ventures and make tangible impact within their communities.

The campaign, which launched on August 28 and runs through September 29, reflects PalmPay’s ambition to position itself not only as a digital banking platform but as a catalyst for inclusive growth in Nigeria’s fast-evolving entrepreneurial landscape.

From thousands of entries nationwide, four winners emerged in the first round, each securing N500,000 to expand their businesses. Among them are a community organiser in Kebbi State, two fashion entrepreneurs based in Lagos and Jos, and a farmer building capacity in his local agricultural value chain. Together, they showcase the resilience, creativity and resourcefulness that underpin Nigeria’s small business ecosystem.

PalmPay said the grant goes beyond funding, serving as a partnership with everyday Nigerians who are striving to transform their hustles into enterprises capable of generating jobs, income and wider social impact. The company noted that entries continue to pour in across social media via the hashtag #PalmPayHustleGrant, with four additional winners expected in the final round of the campaign.

As Nigeria grapples with high unemployment, rising inflation and limited access to affordable credit for micro and small businesses, PalmPay’s initiative offers a rare intervention targeting entrepreneurs at the grassroots level. Analysts say such private-sector support can complement government programmes aimed at deepening financial inclusion and stimulating the real economy.

Marking its sixth anniversary this year, PalmPay is leveraging the Hustle Grant to reinforce its mission of building financial tools that enable ambition. “We want to be more than a transaction platform; we want to be a trusted financial partner committed to growth,” the company stated.

By anchoring its brand around empowerment rather than just digital payments, PalmPay is betting on Nigeria’s entrepreneurial energy as the foundation for both business expansion and national economic development.

Onome Amuge

Onome Amuge serves as online editor of Business A.M, bringing over a decade of journalism experience as a content writer and business news reporter specialising in analytical and engaging reporting. You can reach him via Facebook and X