Fidelity Bank Partners with Proxtera to Boost Ghanaian SMEs on GIFE Platform

Fidelity Bank, the largest privately-owned bank in Ghana, has entered into a partnership with Proxtera to step up the capabilities of Small and Medium Enterprises (SMEs) through the Ghana Integrated Financial Ecosystem (GIFE) Platform.

The agreement was signed at the ongoing 3i Africa Summit, a key event focused on unlocking Africa’s growth potential.

GIFE is a collaborative initiative involving the Development Bank Ghana (DBG), the Monetary Authority of Singapore (MAS), and the Bank of Ghana (BoG), with Proxtera providing the digital infrastructure.

The platform aims to directly address challenges faced by SMEs.

GIFE offers a comprehensive digital solution designed to support the growth of Micro, Small, and Medium Enterprises (MSMEs).

The document was initialled by Nana Esi Idun-Arkhurst, Divisional Director of Retail and Business Banking at Fidelity Bank, and Mr. Saurav Bhattacharyya, Chief Executive Officer of Proxtera.

Ms. Idun-Arkhurst emphasized the vital role of SMEs in Ghana’s economy, particularly in job creation and innovation.

She identified major challenges such as limited access to finance, customer reach, and essential business skills, which hinder informed decision-making and sustainable growth.

She was optimistic that SMEs joining the GIFE platform would have a unique opportunity to position themselves as global players.

Furthermore, she highlighted Fidelity Bank’s commitment to collaborating with Proxtera to strengthen the governance of Ghanaian SMEs and to working with various stakeholders in the value chain to achieve this goal.

Mr. Saurav Bhattacharyya, CEO of Proxtera, reaffirmed the company’s dedication to empowering Ghanaian MSMEs.

“We are committed to making GIFE a successful platform that promotes inclusive economic growth,” he said.

“Our partnership with Fidelity Bank and other GIFE participants ensures the platform meets the specific needs of Ghanaian SMEs. We have plans for continuous improvement and expansion of the GIFE platform to ensure it remains a valuable resource for businesses in the future,” he said.