Fidelity Bank, Ghana’s largest privately owned bank, has committed GHS 1 million in grant funding to support innovative solutions to address challenges in the country’s agricultural value chain.
The GreenTech Innovation Challenge (GTIC) 2024 is designed to empower Ghanaian businesses and innovators with the necessary resources to launch or scale up their GreenTech solutions.
In a statement, the bank mentioned the potential of these resources to revolutionize Ghana’s agricultural sector, fostering a more sustainable and productive future.
Julian Opuni, the Managing Director of Fidelity Bank, reiterated the bank’s long-standing commitment to agriculture, noting the recent expansion of their Fidelity Young Entrepreneurs Initiative with an AgricTech competition announced during the 3i Africa Summit in May 2024.
He emphasised the need to engage Ghana’s youthful population, pointing out that over 60 percent of Africa’s population is under the age of 25.
He recognized the difficulty the agricultural sector faces in appealing to young individuals, but he remains optimistic that the GTIC can change this by attracting young, technology-savvy minds to create new and innovative solutions for agriculture. He stated, “We are excited to see the incredible ideas that will emerge and become catalysts for progress.”
Fidelity Bank’s GreenTech Innovation Challenge demonstrates its commitment to driving sustainable development and empowering the next generation of agricultural innovators. The bank aims to transform Ghana’s agricultural sector, making it more resilient, efficient, and appealing to young entrepreneurs by providing substantial financial support and a platform for growth.
The GTIC is designed to assist innovators at different points in their development. The Ideation Tier is for those with new and revolutionary ideas to tackle agricultural challenges, offering resources and assistance to bring their concepts to fruition. The Scale-Up Tier is for established businesses with successful green technology solutions, and the Commercialisation Tier is for businesses with ready-to-market GreenTech products looking to expand their market presence.
