Fidelity Bank, Ghana’s largest privately-owned indigenous bank, has partnered with some organisations to unveil an export value proposition targeted at Ghanaian export-oriented businesses.
The partners are eco.Business Development Facility (eco.business DF), Development Bank Ghana (DBG), and the Federation of Associations of Ghanaian Exporters (FAGE).
The collaboration seeks to boost Ghanaian export trade in the agricultural and non-traditional export sectors.
The plan hinges majorly on the formation of the Fidelity Export Club, an initiative supported by all the export value partners.
It seeks to provide a common front for Ghanaian exporters and provide them with critical support in areas such as market access and expansion, capacity building, access to finance, regulatory compliance, technical assistance, and the adoption of sustainable business practices.
Club members will also benefit from quick and stress-free application processes, flexible repayment terms and conditions, competitive interest rate charges, transaction-based lending, and competitive charges.
Following the Club’s debut in August and the signing of a Memorandum of Understanding at Fidelity Bank’s Head Office, the partners also launched a nationwide series of day seminars to sensitise Ghanaian exporters on critical sustainability practices in their line of business.
The seminars, themed “Empowering Business to Drive Sustainable Growth Through Compliance to Regulatory and Environmental Principles—The Agric and Perspective,” were held in Accra, Takoradi, and Sunyani on August 22, 25, and 29, 2023, respectively.
The seminar series drew over 400 participants from the country’s export value chain.
They included primary producers and processors, exporters and 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, stated that the bank was eager to provide support and advisory services to local businesses and entrepreneurs throughout the country in the various value chains in the agriculture and export sectors.
“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,” he added.
Ms. Lisa Stahl, Chairperson of the eco.business Development Facility for sub-Saharan Africa noted that the Fidelity Export Club could significantly contribute to the sustainability of the Ghanaian agricultural export sector and overall economic development.
Mr. Michael Mensah-Baah, Deputy CEO of DBG, emphasised the bank’s role in supporting the growth of the private sector.
He said this could not be done only through funding but also by engaging “in progressive partnerships to provide a comprehensive package of funding, capacity building and technical expertise to drive the required growth of private businesses.”
Mr. Davies Narh Korboe, President of FAGE, lauded the initiative and said he was excited about the launch of the export club and the roll-out of the seminars and other related activities