{"id":61949,"date":"2023-12-11T06:22:56","date_gmt":"2023-12-11T06:22:56","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=61949"},"modified":"2023-12-11T06:12:53","modified_gmt":"2023-12-11T06:12:53","slug":"fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund","title":{"rendered":"Fidelity Bank introduces Phase Two of Fidelity Young Entrepreneurs\u2019 Fund"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Fidelity Bank Ghana, the nation\u2019s largest privately owned bank, has launched of Phase Two of the Fidelity Young Entrepreneurs\u2019 Initiative (FYEI).<\/b><\/p>\n

In a press release, in Accra, the Bank said the launch demonstrated its dedication to driving economic growth and development.<\/p>\n

The transformative programme aims to provide both financial and non-financial support to empower youth-centric businesses, contributing significantly to the future economic landscape of Ghana.<\/p>\n

\u2018<\/p>\n

In the first phase, the statement said it supported young entrepreneurs, particularly female entrepreneurs, through an average loan with a longer repayment period from Fidelity Bank.<\/p>\n

\u201cThis initiative targeted vibrant and visionary young entrepreneurs aged 18\u201340, prioritising female entrepreneurs and start-ups, \u201c, it explained.<\/p>\n

\u201cWith a fund size of GHS 10 million, FYEI disbursed GHS 3.9 million to 32 borrowers, delivering impactful results.<\/p>\n

\u201cThe average loan size of GHS 200,000 and an average term of 24 months underscored the effectiveness of the initiative.<\/p>\n

From inception till date, a total of 32 businesses had benefited from the fund, it said and expressed the hope to grow this number over the next couple of years.\u201d<\/p>\n

Nana Yaa Afriyie Ofori-Koree, Head of Partnerships, Sustainability, and Corporate Social Responsibility ( CSR) for Fidelity Bank, said after the success of Fidelity Young Entrepreneurs Fund Phase 1, the company was delighted to launch the next phase.<\/p>\n

The next phase, she explained, was a testament to the vision of empowering young entrepreneurs and businesses as catalysts for social and economic development in Ghana.<\/p>\n

\u2018<\/p>\n

She said: \u201cWe believe that by providing both financial and non-financial resources, we can help these businesses survive and thrive in the competitive and dynamic market.<\/p>\n

\u201cWe also recognise the importance of sustainability and environmental and social responsibility, which is why we have incorporated these aspects into our initiative.<\/p>\n

\u201cWe invite all young entrepreneurs who share our passion and values to join us in this journey of creating positive impact and transforming the future of Ghana.\u201d<\/p>\n

\u2018<\/p>\n

The initiative also pioneered ESG training and capacity building, paving the way for businesses to develop robust environmental and social management systems and pursue certifications and licenses.<\/p>\n

\u201d The goal is to support at least 200 businesses while creating jobs that will lead to economic growth,\u201d it said.<\/p>\n

\u201cBuilding on the success of its first phase, Fidelity Bank introduces enhanced terms and conditions, amplifying support for young entrepreneurs, both financial and non-financial, in the second phase.<\/p>\n

\u201cThe pricing remains competitive at 10% per year with 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,\u2019\u2019 the release said.<\/p>\n

\u201cThe initiative broadens its scope to include sectors such as manufacturing, agriculture, technology, creative arts, water, sanitation and hygiene (WASH), renewable energy, and recycling,\u2019\u2019 the release said.<\/p>\n

The Bank encouraged all eligible young entrepreneurs to seize the opportunity by submitting their applications.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Fidelity Bank Ghana, the nation\u2019s largest privately owned bank, has launched of Phase Two of the Fidelity Young Entrepreneurs\u2019 Initiative (FYEI). In a press release, in Accra, the Bank said the launch demonstrated its dedication to driving economic growth and development. The transformative programme aims to provide both financial and non-financial support […]<\/p>\n","protected":false},"author":84,"featured_media":61947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-61949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nFidelity Bank introduces Phase Two of Fidelity Young Entrepreneurs\u2019 Fund - Ghana<\/title>\n<meta name=\"description\" content=\"Fidelity Bank Ghana, the nation\u2019s largest privately owned bank, has launched of Phase Two of the Fidelity Young Entre ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity Bank introduces Phase Two of Fidelity Young Entrepreneurs\u2019 Fund\" \/>\n<meta property=\"og:description\" content=\"Fidelity Bank Ghana, the nation\u2019s largest privately owned bank, has launched of Phase Two of the Fidelity Young Entre ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-11T06:22:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1702262460.159045.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"570\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fidelity Bank introduces Phase Two of Fidelity Young Entrepreneurs\u2019 Fund\",\"datePublished\":\"2023-12-11T06:22:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund\"},\"wordCount\":483,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1702262460.159045.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/fidelity-bank-introduces-phase-two-of-fidelity-young-entrepreneurs-fund\",\"name\":\"Fidelity Bank introduces Phase Two of Fidelity Young Entrepreneurs\u2019 Fund - 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