2025 Ghana-EU Business Forum: Fidelity Bank champions youth entrepreneurship and gender inclusion

Kwabena Boateng, Deputy MD of Wholesale Banking at Fidelity Bank Ghana, reaffirmed the bank's commitment to youth-driven enterprise development. He spoke at the 2025 Ghana-European Union Business Forum. The theme was "Fostering Collaboration Between Ghanaian and European Entrepreneurial Ecosystems."

Mr. Boateng participated in a panel discussion on cooperation among financial institutions. He emphasized Fidelity Bank's dedication to supporting Small and Medium-sized Enterprises (SMEs) and young entrepreneurs. He also highlighted various lending and technical assistance initiatives.

He praised the European Union (EU) and Development Finance Institutions (DFIs) for their crucial roles. "Fidelity Bank is truly committed to supporting SMEs and young entrepreneurs," he stated.

"Our collaboration with the EU has been instrumental," Mr. Boateng added. The Orange Corners Innovation Fund offers up to €50,000 in grants and concessional loans at a 5% interest rate. This fund provides vital capital for promising ventures.

Fidelity Bank manages these funds but relies on partners like Growth Africa for training and market access. Their comprehensive approach includes initiatives like the Orange Summit for entrepreneurship training.

The Fidelity Young Entrepreneurs Initiative offers funding, capacity building, and mentoring support. Another innovation, the Orange Market, allows young entrepreneurs to showcase their products publicly.

Beyond EU partnerships, Mr. Boateng noted Fidelity Bank's collaboration with the Mastercard Foundation in agriculture. They have rolled out approximately GHS 57 million in funding over 18 months.

This funding has created 12,000 new jobs while sustaining 11,300 existing ones. It has also reached over 21,000 smallholder farmers.

Mr. Boateng addressed gender-lens investing challenges as well. He emphasized that supporting women must be intentional.

"We target sectors with many women entrepreneurs," he explained. These include fashion, food processing, and small-scale manufacturing through programs like Orange Corners with RVO.

Their Bridge-in-Agriculture program targets women aged 18 to 35 years who employ youth and women too. To reduce barriers for women entrepreneurs, they offer lower borrowing rates of around 5% or 7%.

They have also reduced collateral requirements to as low as 20%. This helps women who often lack traditional collateral access necessary capital.

Fidelity Bank's commitment extends internally as well. Mr. Boateng shared their gender equality initiatives within the bank.

They partner with Accion and Coca-Cola Foundation for product reviews and organizational culture improvements. They also work with Value for Women on a comprehensive gender action plan.

"We practice what we preach internally," Mr. Boateng asserted about their commitment to gender equality principles aligned with the Bank of Ghana’s sustainability goals.

By signing onto the United Nations Global Compact, they reinforce their dedication to these values. Fidelity Bank Ghana leads by example in fostering an inclusive entrepreneurial ecosystem in Ghana through strategic partnerships and tailored financial solutions.