Empowering agricultural innovations: Fidelity Bank awards GH?1 million grant funding

Kumasi: In propelling Ghana's agricultural sector towards a more sustainable one, the Fidelity Bank Ghana is awarding over GH?1 million grant funding to support innovative solutions in the sector.These funds are intended to empower innovators at various stages of development, from ideation to commercialization.Mr. Atta Yeboah Gyan, Deputy Managing Director, Fidelity Bank, at a media engagement in Kumasi, expressed the Bank's dedication to ensuring that agriculture reached its full potential in Ghana.He added that it was for this reason the company recently launched the GreenTech Innovation Challenge to provide funding to support innovative solutions in addressing critical challenges within the country's agricultural value chain.According to him, the initiative was an extension of Fidelity Young Entrepreneurs Initiative, where the Bank supports young entrepreneurs, particularly women aged 18-45, with funding, technical assistance, and mentorship.Mr. Gyan noted that in 2024 alone, the programme had em powered about 103 small and medium enterprises across sectors, including manufacturing, agriculture, creative arts, water, sanitation and hygiene (WASH), technology, and services.Additionally, through partnership with the MasterCard Foundation, the Bridge-In-Agriculture initiative was introduced to focus on supporting women entrepreneurs in the agricultural sector.On reducing environmental footprints, the Deputy Managing Director indicated that the Bank stood at the crossroads of economic growth and climate change and therefore, recognized the critical role to play in mitigating environmental impacts.It had made strides in waste reduction by recycling 1.8 tonnes of paper with estimated Scope 3 greenhouse gas emissions standing at 78,520 tonnes of CO2 equivalent.This baseline would guide ambitious reduction targets moving forward.Mr. Gyan noted that, the company was also integrating Environmental, Social, and Governance (ESG) principles into lending practices, ensuring that those the Bank supported w ere aligned with sustainable operations.Source: Ghana News Agency