Fidelity Bank Ghana provides GHC14.35 million support to SMEs-Deputy MD


The Fidelity Bank of Ghana has made significant contributions to the development of Small and Medium-sized Enterprises (SMEs), providing GHC14.35 million in financial support to 103 SMEs, nationwide.

Mr Gyan Atta Yeboah, the Deputy Managing Director of the Bank who disclosed this said additionally the bank had created 119 new jobs, sustained over 3,000 existing jobs, and positively impacted 2,483 stakeholder farmers, with 72.9 per cent of them being women.

Despite some challenges, he said the bank had continued to deliver superior services, saying it raked in a profit of GHC1.17 billion in 2023, while the bank’s assets grew by 25 per cent of GHC17.22 billion.

Speaking at a media engagement in Sunyani, Mr Yeboah said the bank’s capital ratio had also increased from 16.8 per cent to?20.9 per cent and announced plans to introduce micro-loans that could be accessed easily and conveniently and without collateral.

He explained that the microloans would be accessible with the assistance of Kukua, a digital plat
form, saying the facility would benefit SMEs the most.

‘The bank is exploring micro-insurance options to ensure that no one is left behind in the financial system,’ Mr Yeboah stated, saying the bank was passionate about contributing to the financial inclusion of all Ghanaians.

He also stressed the bank’s commitment towards providing innovative financial solutions to meet the growing needs of its customers, saying ‘Fidelity Bank Ghana had been at the forefront of innovation in the banking sector’.

The latest initiative is expected to further fortify its position as a leader in the industry, Mr Yeboah stated, adding that established 18 years ago, the bank had 81 branches nationwide.

It also stands as the largest private asset which is a testament to the bank’s commitment to serving the people of Ghana.

The Deputy Managing Director said the bank was also committed to reducing environmental impact and had made significant strides in waste reduction by recycling 1.8 tons of paper.

Additionally, the bank has
measured its greenhouse gas emissions at 78,520 tons of CO2 equivalent, Mr Yeboah stated and assured the financial security of individual customers and businesses.

The bank prioritizes education, economic empowerment, health, and gender equality and has positively impacted the lives of 6,409 individuals in the first half of the year and supported seven schools in the country as well.

Source: Ghana News Agency