Fidelity Bank advocates stronger systems to unlock Ghana’s trade and enterprise potential

Fidelity Bank Ghana has called for stronger collaboration among stakeholders, harmonized trade systems, and targeted institutional support to unlock Ghana's trade and enterprise potential. This call was made by two senior leaders at the Breaking Barriers to Trade conference, where Fidelity Bank participated in sessions on trade modernisation and women-led enterprise development.

Aaron Ameyaw, Director of Banking Operations, highlighted data quality and fragmented customs systems as key obstacles to trade growth in Ghana and the region. He emphasized that artificial intelligence can indeed transform trade and commerce but is only effective if the underlying data is accurate. Ameyaw pointed out the need to harmonize customs regimes among neighboring countries, a priority that has been neglected for too long.

He also welcomed the introduction of the Publican AI System, which has already contributed to revenue growth of over US$300 million at Ghana's ports.

Alex Agyei-Amponsah, Director of SME Banking, addressed the challenges faced by women-led businesses in Ghana. He noted that while women in the region own between 38% and 46% of businesses, the main issue is not a lack of ambition but rather structural barriers. Agyei-Amponsah discussed Fidelity Bank's Fidelity Young Entrepreneurs Fund, which targets women and youth aged 18 to 40 (up to 45 for women) to help them grow their businesses from the idea stage to funded, market-ready ventures.

The bank also promotes group lending, which has helped entrepreneurs secure contracts they would not have been able to obtain individually, such as a yam export contract to Canada. For Fidelity Bank, overcoming barriers to trade requires both modernized systems and supportive institutions that meet people where they are.