Fidelity Bank, Ghana’s leading privately-owned financial institution, has once again reaffirmed its unwavering dedication to empowering women entrepreneurs.
In the bank’s Women in Business Dialogue Series held in Accra, Nana Esi Idun-Arkhurst, Divisional Director of Retail and Business Banking at Fidelity Bank, highlighted the bank’s commitment to providing women-owned businesses with cutting-edge financial services and support to foster their success.
Under the theme “Investing in Women-Owned Businesses for Ghana’s Transformation Agenda: A Call for Action,” the dialogue series served as a platform to discuss the pivotal role of women entrepreneurs in driving economic growth and development.
Idun-Arkhurst emphasized the importance of ensuring that women entrepreneurs are equipped with the necessary resources and support to thrive in today’s competitive business landscape.
Central to Fidelity Bank’s mission is the goal of making women entrepreneurs “investor-ready” and “credit-worthy.” Idun-Arkhurst stressed the significance of instilling discipline from the outset of a business venture, regardless of its scale or formality.
The Need for Women Entrepreneurs to Build Trust and Credibility
The Divisional Director of Retail and Business Banking at Fidelity Bank emphasized the need for women entrepreneurs to build trust and credibility with potential investors and financial institutions by maintaining proper documentation and demonstrating tangible evidence of their business’s prospects and financial viability.
In line with this objective, Fidelity Bank offers a range of services designed to support women entrepreneurs in various stages of their business journey. Beyond financial assistance, the bank places a strong emphasis on fostering financial literacy, investor readiness, and market access.
Idun-Arkhurst highlighted the importance of focusing on building a robust customer base, obtaining relevant certifications, and ensuring that products meet international standards to enhance competitiveness in both local and global markets.
“Knowing customer preferences and international export standards is vital; don’t assume your product will succeed everywhere. Some may have very specific requirements. Knowing these nuances is essential for successful exporting.”
Idun-Arkhurst
Ms Idun-Arkhurst encouraged women entrepreneurs to take advantage of available resources and capacity-building programmes provided by the bank to gain valuable knowledge and skills, apart from the financial support.
“Fidelity Bank, for example, offers the Fidelity Young Entrepreneurs Fund, which provides loans at concessionary interest rates, technical assistance, and capacity building specifically for women and youth-led businesses.”
Idun-Arkhurst
Ms Idun-Arkhurst also urged women entrepreneurs to sign up to the Bank’s recently launched bridge-in-agriculture programme with the MasterCard Foundation, aimed at empowering women and youth in the agricultural sector.
On technology, Ms Idun-Arkhurst encouraged the women to increase their pace in embracing digital marketing tools in today’s business landscape.
“This is our time as women entrepreneurs! The business landscape has evolved. Embrace technology, leverage available resources, and confidently take advantage of the vast opportunities that exist. Fidelity Bank stands beside you, offering the resources and support you need to succeed in the ever-evolving business world.”
Idun-Arkhurst
Fidelity Bank’s participation in the Women in Business Dialogue Series aligns with its ongoing dedication to fostering a more inclusive and prosperous Ghana, she noted.
Ms Idun-Arkhurst indicated that by equipping women entrepreneurs with the knowledge and resources they need to thrive, Fidelity Bank would be contributing to Ghana’s overall economic transformation agenda.
Furthermore, Fidelity Bank’s innovative initiatives, such as the ‘Export Club’ in collaboration with the Federation of Associations of Ghanaian Exporters, aim to equip businesses with the tools and knowledge necessary to meet global standards and expand their market reach.
By providing insights into customer preferences and international export requirements, these initiatives enable women entrepreneurs to navigate the complexities of international trade successfully.
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