The event, held under the theme: “Fostering Collaboration Between Ghanaian and European Entrepreneurial Ecosystems – Investing in Young Businesses in Ghana under the EU Global Gateway Strategy.”

Mr. Boateng, in a high-level panel discussion focused on deepening cooperation between financial institutions, development finance institutions (DFIs), and entrepreneurial support networks, 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.

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,” Mr. Boateng stated.

“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 5% interest rate, providing vital capital to promising ventures.

“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.”

Fidelity Bank’s comprehensive approach to nurturing entrepreneurship includes initiatives such as the Orange Summit, a biannual gathering for entrepreneurship training, and the Fidelity Young Entrepreneurs Initiative, which provides funding, structured capacity building and mentoring support.

Another innovation, the Orange Market, serves as a curated marketplace where young entrepreneurs can showcase and sell their products to the public, closing the loop between ideation and commercialization.

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 GHS 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,” he revealed.

“This support has also reached over 21,000 smallholder farmers, demonstrating our broad impact across vital sectors.”

Addressing the persistent challenge of gender-lens investing, Mr. Boateng affirmed Fidelity Bank’s intentional measures to ensure that EU and DFI support genuinely reaches women-led enterprises.

“Supporting women has to be intentional,” he emphasized. “We identify sectors with a high concentration of women entrepreneurs, such as fashion, food processing, and small-scale manufacturing, and specifically target them through programs like the Orange Corners with the Netherlands Enterprise Agency (RVO). Our Bridge-in-Agriculture program with Mastercard is also specifically designed to target women aged 18 to 35 years, and businesses that employ youth and women.”

He further detailed concrete steps taken to reduce barriers for women entrepreneurs: “Recognising the high cost of borrowing, our partnerships, like the Orange Corners, offer rates as low as 5%, and Mastercard’s program offers 7%. Critically, we have also significantly reduced collateral requirements to as low as 20%, ensuring that women entrepreneurs, who often lack traditional collateral, can still access the capital they need.”

Fidelity Bank’s commitment to gender equality extends beyond external initiatives. Mr. Boateng shared the bank’s internal dedication to gender equality and gender action plans, including partnerships with Accion and the Coca-Cola Foundation for product and organizational culture review, and with Value for Women, for a comprehensive gender action plan.

“We do not just preach; we practice what we preach internally,” Mr. Boateng asserted. “Our gender equality program is fully aligned with the Bank of Ghana’s sustainability principles, and our signing onto the United Nations Global Compact underscores our commitment to these values. We strive to be the benchmark for 

Fidelity Bank Ghana continues to lead by example, demonstrating that strategic partnerships, tailored financial solutions, and a deep-seated commitment to inclusivity are essential for fostering a thriving and sustainable entrepreneurial ecosystem in Ghana.