FIDELITY BANK GHANA LIMITED
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Fidelity Bank Ghana Ltd. is an indigenous Ghanaian bank. Since its inception in 2006 it has grown to become the sixth largest bank in Ghana in terms of deposits, and strengthened its position in the market further in 2014 by acquiring ProCredit Ghana and as such is the first bank to actively serving the unbanked and underbanked in the country. The bank's ambition is to be the major force in socio-economic and cultural development in Ghana.
What is our funding objective?
The merger has brought two institutions with their own cultures and staff together. To ensure a smooth transition and that the new, joint strategy and corporate culture are institutionalized and embedded in the organization, an organization and employee development program will be rolled out. Capacity Development (CD) funding is being requested to co-finance this programme.
Why do we fund this investment?
Due to the merger and strategic change in direction, the institutional culture is rapidly evolving. From being a bank that was majorly focused on large corporates and high and mid net individuals the Fidelity Bank Ghana Ltd. has broadened its scope, and are now also targeting the large un- and underbanked segment in Ghana. This will increase the Bank’s outreach. By contributing to a successful transition, FMO also contributes to increased access to finances for un/underbanked groups and thereby economic development.
More investments
| Date | Total FMO financing |
|---|---|
| 12/21/2021 | USD 25.00 MLN |
| 3/23/2022 | USD 18.50 MLN |
- Website customer/investment
- http://www.fidelitybank.com.gh
- Region
- Africa
- Country
- Ghana
- Sector
- Financial Institutions
- Effective date
- 12/11/2015
- End date
- 8/29/2017
- Total FMO financing
- EUR 0.11 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A