Fidelity Bank, Ghana’s largest privately owned bank has signed a landmark agreement with Proxtera with the aim of empowering Ghana’s Small Medium Enterprises(SMEs).
The historic event which took place last Wednesday, May 15, 2024, will seek to empower SMEs through the Ghana Integrated Financial Ecosystem (GIFE) Platform.
The 3i Africa Submit became the panacea for the solidification of the historic landmark.
The 3i Africa Submit is a major gathering captains of industries, banks amongst others to focus on driving Africa’s growth potential.
Witnessed by Nana Esi Idun-Arkhurst, Divisional Director, Retail and Business Banking at Fidelity Bank, Mr. Saurav Bhattacharyya, Chief Executive Officer of Proxtera represented his outfit.
In a press release copied to Ghana News Guide, Nana Esi Idun-Arkhurst emphasized the crucial role of SMEs in Ghana’s economy amidst highlighting job creation and innovation.
She however acknowledged challenges such as the limited access to finance, customer reach, and essential business skills that has bedeviled the sector.
Ms. Idun-Arkhurst further bemoaned the lack of expertise hindering informed decision-making and sustainable growth.
The platform is collaborative effort between the Development Bank Ghana (DBG), the Monetary Authority of Singapore (MAS), and the Bank of Ghana (BOG), with Proxtera as the digital infrastructure provider, poised to address any challenges likely to hinder progress of the unique initiative.
The platform will provide MSMEs with a comprehensive digital solution for growth.
“GIFE presents yet another opportunity for the bank to provide the needed solutions to today’s modern SMEs, helping them compete locally, regionally, and globally, in addition to all the programs, platforms, and solutions we already offer SMEs,”Nana Esi Idun-Arkhurst stressed.
Ms. Idun-Arkhurst was upbeat that SMEs tbat sign up on the GIFE platform will have an unparalleled opportunity of positioning themselves to be a global player.
Fidelity Bank,Ms. Idun-Arkhurst is optimistic to working with Proxtera in its quest to deepening the governance of Ghanaian SMEs stressing “and we will work with all the various stakeholders in the value chain to make this possible.”
The collaboration between the duo institutions demonstrate the bank’s commitment to supporting the growth of the vital sector and contributing to a more prosperous Ghanaian economy for all.
Mr. Saurav Bhattacharyya, CEO of Proxtera, reiterated his outfit’s commitment to the shared vision of empowering Ghanaian MSMEs.
Mr. Bhattacharya emphasized “We are dedicated to making GIFE a successful platform that fosters inclusive economic growth”.
He reiterated that his outfit’s collaboration with Fidelity Bank and other GIFE participants will ensures that the platform meets the specific needs of Ghanaian SMEs.
He added “We have plans for continuous improvement and expansion of the GIFE platform, ensuring it remains a valuable resource for businesses well into the future.”
Report by Prosper Kwaku Selassy Agbitor
