Accra, Ghana – Atta Yeboah Gyan, Deputy Managing Director for Operations and Support Functions at Fidelity Bank Ghana, has urged a concerted and strategic effort to channel financial capital into Ghana’s key productive sectors, which he states are currently underserved by formal credit despite their economic importance. Speaking at the Business and Financial Times’ Money Summit 2026, Gyan emphasized that the nation’s recent macroeconomic stability must be underpinned by structural financial solutions to foster sustainable prosperity.
Context of Economic Stability and Persistent Challenges
Ghana has made significant strides in stabilizing its economy. Real GDP growth reached 6% in the fourth quarter of 2025. Inflation has fallen dramatically from 23.8% in December 2024 to 5.4% by the end of the year. Furthermore, gross international reserves stood at $13.9 billion as of April 2026, providing 5.5 months of import cover.
However, Gyan highlighted persistent structural issues that undermine the full translation of this stability into widespread economic benefit. A critical concern is the agriculture sector, which is vital for Ghana’s export strength. Despite anchoring a 26% year-on-year widening of the trade surplus to $5.28 billion in April 2026, the sector grappled with a non-performing loan ratio of 54.7% as of February 2026.
The Dual Nature of the Trust Deficit
Gyan articulated that a significant hurdle is a dual-faced trust deficit within the financial system. The first aspect is structural, stemming from credit assessment tools that are ill-suited for the current economic landscape. These traditional methods often render millions of economically active Ghanaians invisible to formal lenders.
The second face of the deficit is historical. The banking sector cleanup initiated in 2017/18 and the subsequent domestic debt exchange program have eroded public confidence in financial institutions. Rebuilding this trust, Gyan stated, is a deliberate and long-term endeavor.
“Building trust, in this environment, is a deliberate project,” Gyan remarked. “It requires showing up consistently. It requires making decisions that are good for the long term, even when they are harder in the short term.”
Proof of Concept: Fidelity Bank’s Initiatives
To illustrate that viable models exist for financing underserved sectors, Gyan presented several of Fidelity Bank’s successful initiatives. These programs demonstrate that credit can be effectively extended to productive enterprises in areas like agriculture and green technology.
Through the Mastercard Foundation’s BRIDGE-in-Agriculture program, Fidelity Bank disbursed GH¢66.9 million last year. This financing supported 22,247 smallholder farmers, with 62.4% being women, creating over 12,900 new jobs and sustaining more than 11,500 existing ones.
The bank’s GreenTech Innovation Challenge awarded GH¢1.02 million in grants to 16 climate-smart businesses in 2025. Additionally, the Orange Corners Innovation Fund, a collaboration with the Kingdom of the Netherlands, disbursed GH¢9.83 million to over 55 young entrepreneurs in sectors including agribusiness, fashion, and technology, generating over 1,000 jobs.
The Orange Inspire Creative Challenge provided GH¢550,000 in grants and concessionary loans to bolster Ghana’s creative industries. While acknowledging these figures are modest relative to the overall challenge, Gyan stressed they serve as a crucial proof of concept.
Recommendations for Unlocking Capital
Gyan proposed three key recommendations for the financial sector and policymakers to address the capital access gap. Firstly, he advocated for a co-designed risk-sharing infrastructure for agricultural credit, involving government bodies, development finance institutions, and commercial banks.
Secondly, he called for the accelerated adoption of alternative credit assessment frameworks. These frameworks should leverage data from mobile money transactions, supply chains, and digital histories to accurately assess the creditworthiness of individuals and businesses currently excluded from traditional scoring.
Thirdly, Gyan urged that patient capital, in the form of grants, concessionary loans, and blended finance, be viewed not as aid but as strategic investments. These instruments are essential for nurturing the sectors that will define Ghana’s economic future.
Looking Ahead: Building on Earned Stability
“Ghana has done something genuinely hard,” Gyan concluded. “It came back from the edge. Now the question is what we build with the stability we have earned.” The focus now shifts to whether these structural reforms can be implemented effectively to ensure that Ghana’s hard-won economic stability translates into inclusive and sustainable growth for its productive sectors.
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