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Sunday, February 25, 2024

Fidelity Bank Launches 2nd Young Entrepreneurs’ Fund

Nana Yaa Afriyie Ofori-Koree

 

Fidelity Bank Ghana has reaffirmed its dedication to driving economic growth and development through the launch of phase two of the Fidelity Young Entrepreneurs’ Initiative (FYEI).

The program aims to provide both financial and non-financial support to empower youth-centric businesses, contributing significantly to the future economic landscape of the country.

Building on the success of its first phase, Fidelity Bank has introduced enhanced terms and conditions, amplifying support for young entrepreneurs.

The financial pricing remains competitive at 10% per annum and a processing fee of 0.5%.

Start-up funding is now accessible for businesses operational for at least one year, while the qualifying age for women extends to 45 years.

The initiative broadens its scope to include sectors such as manufacturing, agriculture, technology, creative arts, water, sanitation and hygiene (WASH), renewable energy, and recycling.

The goal is to support at least 200 businesses while creating jobs which will lead to economic growth.

“After a successful Fidelity Young Entrepreneurs Fund phase one, we are delighted to launch the next phase of it, which is a testament to our vision of empowering young entrepreneurs and businesses as the catalysts for social and economic development,” said Nana Yaa Afriyie Ofori-Koree, Head of Partnerships, Sustainability, and CSR, Fidelity Bank.

She added, “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.”

By Samuel Boadi

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