Fidelity Bank Is Inviting All Young Entrepreneurs For This Big Opportunity

With the launch of Phase Two of the Fidelity Young Entrepreneurs’ Initiative (FYEI), Fidelity Bank has reaffirmed its commitment to driving economic growth and development as part of their vision to empower the future leaders of Ghana’s entrepreneurial landscape.

This revolutionary program aims to significantly alter Ghana’s economic future by providing non-financial and financial assistance to youth-focused businesses.

The initiative’s first phase focused on young, energetic, and visionary entrepreneurs between the ages of 18 and 40, particularly female start-ups and entrepreneurs. With a fund size of GH¢10 million, FYEI disbursed GH¢3.9 million to 32 borrowers, conveying significant results.

The initiative’s efficacy was demonstrated by the average loan size of GH¢200,000 and the average term of 24 months. 32 businesses have benefited from the fund since its inception, and the bank expects this number to rise over the next few years.

Fidelity has improved its terms and conditions, increasing both financial and non-financial support for young entrepreneurs based on the success of its first phase. The monetary estimating remains cutthroat at 10% per annum and a processing fee of 0.5%.

Start-up funding is presently available for businesses functional for no less than one year, while the passing age for women stretches out to 45 years. The drive expands its degree to include sectors such as manufacturing, agriculture, technology, creative arts, water, sanitation and hygiene (WASH), renewable energy, and recycling.

The initiative additionally spearheads ESG training and capacity building, paving the way for businesses to develop robust environmental and social management systems and pursue certifications and licenses.

The objective is to help somewhere around 200 businesses while creating jobs which will prompt economic growth.

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After a successful Fidelity Young Entrepreneurs Fund phase one, the bank has launched the next phase of it, which is a testament to their vision of empowering young entrepreneurs and businesses as the catalysts for social and economic development in Ghana.

Nana Yaa Afriyie Ofori-Koree, the Head of Partnerships, Sustainability, and CSR at the launch said,

“We believe that by providing both financial and non-financial resources, we can help these businesses survive and thrive in the competitive and dynamic market. We also recognize the importance of sustainability and environmental and social responsibility, which is why we have incorporated these aspects into our initiative. We invite all young entrepreneurs who share our passion and values to join us in this journey of creating positive impact and transforming the future of Ghana.”

As a result, the Bank is inviting all eligible young entrepreneurs to take advantage of this opportunity by submitting their applications at: https://fyei.fidelitybank.com.gh/

For all other enquiries contact the following numbers 0594111207/0596039614 or via email at sustainablefinance@myfidelitybank.net. The application window opens now until December 31, 2023.

With its expanded scope and enhanced support measures, the FYEI is strategically positioned to shape Ghana’s future economic landscape and give the next generation of entrepreneurs the power to drive innovation, create jobs, and help the country develop sustainably.

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