Accra, Ghana – Fidelity Bank, Ghana's largest privately-owned indigenous bank, has joined forces with key organizations to introduce an export value proposition aimed at bolstering Ghanaian export-focused businesses.
The collaborative effort involves eco.Business Development Facility (eco.business DF), Development Bank Ghana (DBG), and the Federation of Associations of Ghanaian Exporters (FAGE).
The primary objective of this partnership is to enhance Ghana's export trade, particularly in the agricultural and non-traditional export sectors. A pivotal component of this initiative is the establishment of the Fidelity Export Club, a project supported by all the export value partners.
The Fidelity Export Club aims to provide a unified platform for Ghanaian exporters and offer critical support in areas such as market access, capacity building, financial access, regulatory compliance, technical assistance, and the adoption of sustainable business practices.
Club members can expect streamlined application processes, flexible repayment terms, competitive interest rates, transaction-based lending, and competitive charges.
The unveiling of the Fidelity Export Club occurred in August, alongside the signing of a Memorandum of Understanding at Fidelity Bank's Head Office.
In conjunction with this launch, the partners initiated a nationwide series of seminars aimed at enlightening Ghanaian exporters on vital sustainability practices related to their industries.
Themed “Empowering Business to Drive Sustainable Growth Through Compliance to Regulatory and Environmental Principles—The Agric and Perspective,” these seminars took place in Accra, Takoradi, and Sunyani on August 22, 25, and 29, 2023, respectively.
Impressively, the seminar series attracted over 400 participants from various segments of the country's export value chain, including primary producers, processors, exporters, aggregators, and agricultural stakeholders such as experts from the Plant Protection and Regulatory Directorate (PPRD), Environmental Protection Agency (EPA), Ghana Export Promotion Authority (GEPA), and Ghana Standards Authority (GSA).
Mr. Julian Opuni, Managing Director of Fidelity Bank, expressed the bank's commitment to providing support and advisory services to local businesses and entrepreneurs across Ghana's agriculture and export sectors.
He emphasized, “Here at Fidelity, sustainability principles, as well as Environmental, Social and Governance (ESG) practices, form a core, non-negotiable facet of all our business operations. ESG considerations have been embedded as a primary requirement in our credit facility approval modalities.”
Ms. Lisa Stahl, Chairperson of the eco.business Development Facility for sub-Saharan Africa highlighted the significant potential of the Fidelity Export Club in enhancing the sustainability of the Ghanaian agricultural export sector and contributing to overall economic development.
Mr. Michael Mensah-Baah, Deputy CEO of DBG, underscored the bank's role in supporting the growth of the private sector, emphasizing the importance of progressive partnerships to provide a comprehensive package of funding, capacity building, and technical expertise for private business growth.
Mr. Davies Narh Korboe, President of FAGE, expressed his appreciation for the initiative and conveyed excitement about the launch of the export club and the rollout of seminars and related activities.
Reporting by Paul Eduarko Richardson. Editing by Mariam Aminu.
