Proxtera and Fidelity Bank Strengthen GIFE Platform SMEs

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Proxtera and Fidelity Bank have inked a historic deal to enable small and medium-sized businesses (SMEs) via the Ghana Integrated Financial Ecosystem (GIFE) Platform.

Proxtera and Fidelity Bank Strengthen GIFE Platform SMEs

The partnership was solidified during the ongoing 3i Africa Summit, a major gathering focused on driving Africa’s growth potential.

Signing on behalf of their respective organizations were Nana Esi Idun-Arkhurst, Divisional Director, Retail and Business Banking at Fidelity Bank, and Saurav Bhattacharyya, Chief Executive Officer of Proxtera.

Ms. Idun-Arkhurst emphasized the crucial role of SMEs in the country’s economy, highlighting their job creation and innovation but also acknowledging challenges like limited access to finance, customer reach, and essential business skills. This lack of expertise, Ms. Idun-Arkhurst explained, hinders informed decision-making and sustainable growth.

Proxtera and Fidelity Bank Strengthen GIFE Platform SMEs

These same issues are the focus of GIFE, an initiative that the Development Bank of Ghana (DBG), the Monetary Authority of Singapore (MAS), and the Bank of Ghana (BOG) collaborated on. Proxtera provided the digital infrastructure. The platform offers MSMEs a full-featured digital growth solution.

“In addition to all the programs, platforms, and solutions we already offer SMEs, GIFE presents yet another opportunity for the bank to provide the needed solutions to today’s modern SMEs, helping them compete locally, regionally, and globally,” Ms. Idun-Arkhurst stated.

“And we will work with all the various stakeholders in the value chain to make this possible,” she said, adding that Fidelity Bank was looking forward to working with Proxtera to deepen the governance of Ghanaian SMEs. She expressed hope that all SMEs who signed up on the GIFE platform would have the unmatched opportunity to position themselves as global players.

Proxtera’s CEO, Saurav Bhattacharyya, reaffirmed the company’s dedication to the common goal of enabling MSMEs in Ghana.

Mr. Bhattacharya declared, “We are committed to making GIFE a successful platform that fosters inclusive economic growth.”

The platform is tailored to the unique requirements of small and medium-sized enterprises in Ghana, thanks to our partnership with Fidelity Bank and other GIFE members. He stated, “We intend to keep expanding and improving the GIFE platform to make sure it is a useful tool for companies for a very long time.

The agreement that Fidelity Bank and Proxtera signed on the GIFE platform is a big step in the right direction for empowering SMEs in Ghana. Through this partnership, the bank is demonstrating its dedication to fostering the expansion of this crucial industry and advancing the prosperity of the Ghanaian economy as a whole.