Accra, Aug. 24, GNA – Fidelity Bank Ghana has called for stronger stakeholder collaboration, harmonised trade systems and targeted institutional support to remove structural barriers limiting the growth of Ghanaian traders and entrepreneurs, particularly women.
Mr Aaron Ameyaw, Director of Banking Operations, Fidelity Bank, made the call at the Breaking Barriers to Trade conference, which focused on trade modernisation and the development of women-led enterprises.
Speaking on the theme, “Reimagining Trade, Influence and Institutional Legacy,” Mr Ameyaw identified poor data quality and fragmented customs systems as major obstacles to trade growth in Ghana and across the region.
He said while artificial intelligence (AI) offered significant opportunities to transform trade and commerce, its effectiveness depended largely on the quality and reliability of the data on which the technology operated.
“In Ghana, data is a problem. These AI machine learners thrive on data. And so if your data is not correct, you have big issues,” he said.
Mr Ameyaw commended the introduction of the Publican AI System, which complemented the Integrated Customs Management System at Ghana’s ports, saying it demonstrated the potential of technology partnerships to improve trade processes.
He said Fidelity Bank was also leveraging digital technology to improve its internal operations, including the use of robotic process automation for reconciliation processes.
The initiative, he said, was helping to improve efficiency while freeing human capacity for higher-value activities.
“The good outweighs the bad when it comes to AI,” he said. “It is important that we get the fundamentals right. Once we get it right, it creates opportunities. And for us at Fidelity, we are always doing that.”
Mr Alex Agyei-Amponsah, Director of SME Banking, said the Fidelity Young Entrepreneurs Fund was supporting women and young people between 18 and 40 years, with the upper age limit for women extending to 45 years.
He said the programme was designed to support entrepreneurs from the idea stage through incubation to become funded and market-ready businesses.
The programme, he said, provided financing at concessionary rates, alongside tailored programmes to help entrepreneurs meet regulatory and compliance requirements that could otherwise prevent them from accessing markets.
Mr Agyei-Amponsah also highlighted the bank’s group-lending model as another avenue for expanding access to finance, citing support provided to members of the Federation of Associations of Ghana Exporters.
GNA
Edited by Beatrice Asamani Savage
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