Fidelity Bank Ghana has called for stronger stakeholder collaboration, harmonised trade systems, and targeted institutional support to remove structural barriers limiting Ghanaian traders. This initiative aims to boost the growth of entrepreneurs, especially women, in the country's trade sector.
The bank's senior executives made this appeal at the Breaking Barriers to Trade conference. They highlighted that poor data quality and fragmented customs systems are major obstacles to trade growth in Ghana and the wider region. These issues increase costs and delay transactions for traders.
This call aligns with Ghana's ongoing efforts to improve its business environment and boost economic activity. The nation seeks to enhance its position within the African Continental Free Trade Area (AfCFTA). Addressing these trade barriers could significantly contribute to Ghana's economic diversification and job creation goals.
Aaron Ameyaw, Fidelity Bank's Director of Banking Operations, stated that artificial intelligence (AI) offers significant opportunities for trade transformation. However, he cautioned that AI's effectiveness depends heavily on data quality. He noted, "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."
The bank's recommendations carry significant implications for policy makers and industry players. Improved data quality and harmonised customs regimes could streamline trade processes, making Ghanaian goods more competitive. Businesses should watch for government responses and potential new initiatives to implement these changes.
Mr. Ameyaw specifically called for greater harmonisation of customs regimes across neighbouring countries. He observed that traders, particularly women importing goods from Togo and Nigeria, face bureaucratic processes. These processes increase costs and cause significant delays in transactions.
He welcomed the introduction of the Publican AI System in early 2026. This system complements the Integrated Customs Management System at Ghana's ports. Mr. Ameyaw noted that this technology has already contributed to revenue growth exceeding US$300 million.
Fidelity Bank itself leverages technology internally to improve efficiency. The bank uses robotic process automation for reconciliation processes. This frees employees to focus on higher-value tasks, enhancing overall operational effectiveness.
Alex Agyei-Amponsah, Director of SME Banking, addressed the specific challenges confronting women-led businesses. He noted that women own between 38 and 46 percent of businesses in the region. Their main challenge is balancing business growth with family and other responsibilities, not a lack of ambition.
Fidelity Bank actively addresses these challenges through its Fidelity Young Entrepreneurs Fund. This fund targets young entrepreneurs and women, providing support from the idea stage through incubation to market readiness. The programme offers financing at concessionary rates and helps entrepreneurs meet regulatory requirements.
Mr. Agyei-Amponsah also highlighted the bank's group lending model. He cited a woman involved in a yam export contract to Canada through the Federation of Associations of Ghana Exporters. The group arrangement enabled her to participate despite being unable to undertake it independently, showcasing the power of collaborative financing.