“Fidelity Bank’s engagement was designed to address these specific pain points by presenting tailored value propositions, including bespoke asset financing, specialised trade services for importers, and frictionless market and digital collection payment solutions,” it said.

Mr Kwabena Boateng, Deputy Managing Director, Wholesale Banking at Fidelity Bank, said the session was to understand the trade cycle of the Association, de-risk import processes, and provide trade services that allow them to scale without challenges.

“The electrical dealers at Opera Square are vital cogs in Ghana’s real economy, powering the construction, real estate, and retail sectors,” Mr. Boateng stated. “We are here because we believe that to truly serve a market, you must be present in it,” he said.

“The engagement allowed the Bank to hear directly from GEDA members about what works, what doesn’t, and what they need to thrive in a competitive landscape.”
Mr Alex AgyeiAmponsah, Director of SME Banking, said the Banks “sectorbased engagement strategy” was informed by the knowledge that the needs of businesses differ across sectors.

The session provided an opportunity for the Bank to introduce practical financial support options designed to help electrical traders strengthen their operations, improve cashflow management, and expand their businesses.

Agya Adu, First Vice President, GEDA, described the engagement as a timely collaboration between the financial sector and traders.
“Partnerships like this are important for our members because access to the right financial solutions directly impacts how businesses expand and compete. We appreciate Fidelity Bank for engaging us directly and for seeking to understand the unique needs of electrical dealers,” he stated.