Julian Opuni (L) exchanging the agreement with the partners’ representative
Fidelity Bank in conjunction with the eco.business Development Facility (the eco.business DF), Development Bank Ghana (DBG) and the Federation of Associations of Ghanaian Exporters (FAGE), has unveiled a plan to boost export trade for Ghanaian enterprises within 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 which 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 as well as 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.
Managing Director, Fidelity Bank, Julian Opuni, reiterated that the Bank is ever-willing to provide financial support and advisory services to local businesses and entrepreneurs within the various value chains in the Agric and export sector across the country.
He added, “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.”
Chairperson of the eco.business Development Facility for sub-Saharan Africa, Lisa Stahl, added, “We welcome the launch of the Fidelity Export Club and believe it can significantly contribute to the sustainability of Ghanaian agricultural export sector and overall economic development.”
Deputy CEO of Development Bank Ghana, Michael Mensah-Baah, emphasized DBG’s role in supporting the growth of the private sector.
He said, “At DBG, our mandate is to support the growth of the private sector; we do this primarily by providing long-term funding. We however recognize that funding alone is not enough to guarantee the desired growth for our clients in the private sector that is why we engage in progressive partnerships such as this to provide a comprehensive package of funding, capacity building and technical expertise to drive the required growth of private businesses, in this case within the agro and non-traditional export sector.”
President of FAGE, Davies Narh Korboe, lauded the initiative and expressed excitement about the launch of the export club and the roll-out of the seminars and other related activities.