GHANA – Fidelity Bank, a commercial bank in Ghana has received US$15m loan from eco.business Fund (www.ecobusiness.Fund), an impact investment fund advised by Finance in Motion, to finance agribusinesses in the country.
The senior loan will be on-lent to a wide range of agribusinesses that cover the entire value chain – from food production to logistics and supply chains across domestic staples and export crops.
This is aimed to promote production and consumption practices that contribute to the sustainable use of natural resources and biodiversity conservation.
The partners strive to promote market linkages, climate-resilient and sustainable agricultural practices, as well as provide technical support and training to agribusinesses and bank staff.
Dr. Jens Mackensen, Chairperson of the Board of Directors of the eco.business Fund, said, “We are proud to join forces with Fidelity Bank to support the entire agrifood value chain in export and domestic crops.
“The fund’s investment not only provides much needed patient capital to agribusinesses but will also have a positive impact on sustaining employment, improving sustainable agriculture practices and domestic food security.”
A country with rich biodiversity and a large share of agriculture in its GDP and employment, Ghana is striving to be food self-sufficient in the coming years.
The country has taken active steps towards sustainability and food security through the adoption of sustainability standards within the agribusiness sector, a focus on domestic production, and key export commodities.
The partnership between Fidelity Bank and the eco.business Fund ascertains the mutual commitment of both parties in delivering on this agenda.
Commenting on the partnership, the Managing Director of Fidelity Bank Ghana, Mr. Julian Opuni noted “We are happy to be forging this strong partnership with the eco.business Fund which will boost the growth of the agricultural sector.
“This reinforces Fidelity Bank’s continuous support to the growth of agribusinesses in the country. In addition to the funding, we will also provide capacity building to customers in the agribusiness value chain.
“As an indigenous bank that embodies Ghanaian excellence, we see this partnership as catalyst for growing the SME sector as it will boost our capacity to support more SMEs in the agribusiness space.”
Fidelity Bank demonstrates its leadership by supporting the growth of the agricultural sector, not just because of the business and commercial opportunities it presents, but most importantly the direct impact it has on job creation, food security, improved livelihood, and gender inclusion.
The bank provides tailor-made solutions to agribusinesses across most value chains with a focus on tree crops, nuts, cereals, livestock production, roots and tubers as well as across agrochemical and input supplies.
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