Fidelity Bank commits to SMEs growth
Fidelity Bank Ghana has reaffirmed its commitment to promoting a thriving and sustainable entrepreneurial ecosystem in Ghana.
The Deputy Managing Director in charge of Wholesale Banking at Fidelity Bank Ghana, Kwabena Boateng, underscored Fidelity Bank's deep-rooted dedication to supporting Small and Medium-sized Enterprises (SMEs) and young entrepreneurs, highlighting a comprehensive portfolio of lending and technical assistance initiatives.
Mr Boateng was speaking in a high-level panel discussion at the 2025 Ghana-European Union Business Forum.
The event, on the theme: "Fostering Collaboration Between Ghanaian and European Entrepreneurial Ecosystems – Investing in Young Businesses in Ghana under the EU Global Gateway Strategy", focused on deepening cooperation between financial institutions, development finance institutions (DFIs), and entrepreneurial support networks.
He particularly lauded the crucial role played by the European Union (EU) and other Development Finance Institutions (DFIs) in these efforts.
"Fidelity Bank is truly committed to supporting SMEs and young entrepreneurs. Our collaboration with the EU and partners like the Netherlands Enterprise Agency on initiatives such as the Orange Corners Innovation Fund has been instrumental.
“This fund offers up to €50,000 in a blend of grants and concessional loans at a five per cent interest rate, providing vital capital to promising ventures,” he stated.
Mr Boateng said: “As a bank, we manage and disburse these funds, but we critically rely on the expertise of partners like Growth Africa, who provide the invaluable capacity training, technical assistance, and market access that truly 'hand-hold' entrepreneurs through their journey from fantastic ideas to sustainable businesses."
Nurturing entrepreneurship
He said Fidelity Bank's comprehensive approach to nurturing entrepreneurship included initiatives such as the Orange Summit, a biannual gathering for entrepreneurship training, and the Fidelity Young Entrepreneurs Initiative, which provided funding, structured capacity building and mentoring support.
Another innovation, the Orange Market, he said served as a curated marketplace where young entrepreneurs could showcase and sell their products to the public, closing the loop between ideation and commercialisation.
Beyond the EU partnership, Mr Boateng also highlighted Fidelity Bank's significant collaboration with the Mastercard Foundation, particularly within the agri-sector.
"With the Mastercard Foundation, we've been able to roll out approximately GH₵57 million in funding over the past 18 months, directly contributing to the creation of 12,000 new jobs and sustaining an impressive 11,300 existing jobs.
“This support has also reached over 21,000 smallholder farmers, demonstrating our broad impact across vital sectors," he added.