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 Limited (Fidelity) is a full-fledged commercial bank that is focused on becoming a leading bank in Ghana through superior service culture and efficiency. The bank is owned by various private and institutional shareholders. Fidelity is active in the four key sectors of corporate, SME and institutional banking and consumer banking, providing a comprehensive range of products and services.
What is our funding objective?
Fidelity has a clear ambition to grow in the SME segment and the purpose of the facility is to enable the bank to grow its SME loan portfolio. Supporting the local SME segment will generate economic growth and have a positive impact on job creation, as SMEs are an important driver for employment in Ghana. Furthermore, through this syndicate FMO is able to introduce four of its strategic partners to Fidelity's network.
Why do we fund this investment?
Fidelity is a longstanding partner of FMO and has recently implemented a new SME strategy. Furthermore, it is the first commercial bank in Ghana to have rolled out agency banking, which has a positive impact in terms of financial inclusion. In the last few years, Fidelity has implemented an Environmental and Social Management System and going forward FMO will support Fidelity to manage it in line with international best practices.
More investments
| Date | Total FMO financing |
|---|---|
| 8/29/2017 | EUR 0.11 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
- 12/20/2016
- End date
- 12/21/2021
- Total FMO financing
- USD 25.00 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