Fidelity Bank Ghana Boosts SME Sector with GH¢14.35 Million Disbursement

Fidelity Bank Ghana has disbursed GH¢14.35 million in 2024 to support the growth of 103 Small and Medium-sized Enterprises (SMEs). This initiative, under the Fidelity Young Entrepreneurs program, aims to empower young people and women entrepreneurs, enhancing their business operations and fostering economic growth.

Additionally, the bank awarded GH¢1.4 million in grants through the GreenTech Innovation Challenge to support the agricultural value chain in Ghana. These efforts were highlighted by Deputy Managing Director, Atta Yeboah Gyan, at a media forum in Sunyani, the Bono Regional capital.

He disclosed that since the beginning of the year, Fidelity Bank has created 119 new jobs, sustained over 3,000 existing jobs, and positively impacted 2,483 smallholder farmers, with 72.9% of them being women. He emphasized the significant results achieved through the bank’s partnership with MasterCard Foundation under the Bridge-In-Agriculture initiative.

He also discussed the bank’s commitment to reducing environmental impact, noting strides in waste reduction by recycling 1.8 tonnes of paper and measuring greenhouse gas emissions at 78,520 tonnes of carbon dioxide equivalent. Moreover, all businesses receiving loans from Fidelity Bank now have appropriate safety measures like fire extinguishers.

Fidelity Bank’s Corporate Social Responsibility initiatives prioritize education, economic empowerment, health, and gender equality. The bank has positively impacted the lives of 6,409 individuals in the first half of the year and is constructing 16 basic schools across the country.

Recognizing the potential to bring banking services to the unbanked majority, Fidelity Bank has successfully onboarded over 1.5 million previously unbanked and underbanked individuals, reducing Ghana’s unbanked population from 70% in 2011 to around 40%.

In Sunyani, the bank’s agent network includes 226 agents, part of a total of 770 agents in the Bono, Bono East, and Ahafo regions, empowering countless individuals and businesses. Fidelity Bank remains dedicated to innovation and empowerment, introducing micro-loans accessible through its 24/7 virtual assistant on WhatsApp, Kukua, and exploring micro-insurance options to ensure financial inclusion for all Ghanaians.