Fidelity Bank announces Agric-Tech competition to foster innovation in agric sector
Fidelity Bank Ghana has announced a dedicated space for Agric-Tech within the Fidelity Young Entrepreneurs Fund (FYEF) through an upcoming Agric-Tech competition.
This initiative aims to support the development of ground-breaking solutions that address pressing challenges faced by players in the Ghanaian agriculture value chain.
Mr Julian Opuni, Managing Director at Fidelity Bank, made this announcement during the Agricul
ture and Fintech Forum at the just ended 3i Africa Summit in Accra.
The forum, hosted by Fidelity Bank, brought together stakeholders to bridge the gap between agriculture and fintech and showcase how technology can overcome longstanding barriers in the agricultural value chain.
In his keynote address titled “Seeding Innovation: The Convergence of Agriculture and FinTech in Africa,” Mr Opuni emphasised the crucial role of the youth in driving technological adoption and innovation within the agricultural sector.
He highlighted the demographic advantage of Africa, where 60 per cent of the population is under 25 years old, but noted the underutilisation of this potential due to the perception of agriculture as an unappealing profession for the young.
“Africa’s youth, aged under 25, make up 60 per cent of the population, with over 200 million young people residing on the continent,” Mr Opuni stated.
He said, “Despite this demographic advantage, the agriculture sector remains largely untapped
by Africa’s youth, who often view farming as a profession for the elderly.”
Mr Opuni stressed the need to change this perception and equip young Ghanaians with the necessary support and resources to actively participate in the agricultural sector’s transformation.
“This will not only address youth unemployment, but also ensure the sustainability and growth of Africa’s agricultural sector,” he declared.
Building upon the existing FYEF programme, which provides
financial and non-financial support to youth-led businesses, particularly those in the agriculture sector, a dedicated space for Agric-Tech will be carved out within the FYEF framework.
“Access to opportunities that drive innovation is key to motivating the youth’s involvement in Agric-Tech,” Mr Opuni explained.
“This Agric-Tech competition aims to incentivise the development of innovative solutions that will address critical issues faced by Ghanaian agriculture, ultimately leading to a revolutionised sector.”
BY KINGSLEY ASARE
