Fidelity Bank Ghana has reinforced its commitment to Ghana’s economic growth by disbursing GH₵427 million in Small and Medium Enterprises (SME) loans in 2024.
This financial injection has supported over 35,000 jobs, contributing an impressive GH₵3.08 billion to the national economy.
This initiative underscores the bank’s dedication to fostering financial empowerment and business development across the country.
Driving innovation and the creative economy
Building on the success of the Fidelity Greentech Innovation Challenge (GTIC), the bank has announced the opening of applications for GTIC 2025 in the second quarter of this year. With GH₵700K in grants and up to GH₵1 million in concessionary loans, this initiative supports youth-led innovation and sustainable enterprises, particularly in agriculture.
Recognizing Ghana’s thriving creative economy, Fidelity Bank is also launching Orange Inspire – Fidelity Bank’s Creative Fund. This initiative will provide targeted funding, infrastructure support, and mentorship for creatives in fashion, film, art, and digital content.
Funding allocations will range from GH₵450,000 for young creatives to GH₵1 million for established projects, combining grants and concessionary loans to position Ghana’s creative sector for global success.
CSR and community development
In 2024, Fidelity Bank has invested GH₵5.74 million in Corporate Social Responsibility (CSR) initiatives, directly benefiting over 26,000 individuals, with a strong focus on women’s empowerment.
The bank’s employee volunteering program has also thrived, with staff dedicating over 1,396 hours to various community projects.
Managing Director of Fidelity Bank Ghana, Julian Opuni, made these announcements during a media engagement in Accra.
He emphasized the bank’s Wellness4All Programme, which supports essential health initiatives, including obstetric fistula treatment, cancer awareness, and mental health support.
Mr. Opuni reassured the public of the bank’s unwavering commitment to delivering shared value by ensuring business growth positively impacts communities and the environment.
Resilience amid economic challenges
Despite economic instability, rising loss provisions, and regulatory shifts, notably the Domestic Debt Exchange Programme, Fidelity Bank has demonstrated remarkable resilience.
Since 2022, the bank has maintained consistent profitability, with total assets significantly increasing, driven by customer deposits. While the 2024 audited financial report is yet to be released, the bank has reported exceptional performance, with revenue and profits exceeding expectations.
Furthermore, the bank’s Non-Performing Loans (NPL) ratio remains well below the industry average, reflecting strong financial management.
From discount house to banking powerhouse
Fidelity Bank’s journey began as a discount house, and after seven years of strong performance, it transitioned into a fully-fledged bank in 2006.
Its success is credited to visionary leaders like Edward Effah and Jim Baiden, whose mission was to redefine banking by making it more customer-focused and accessible. Within six months of launching, Fidelity Bank turned a profit and was recognized as the Best Growing Bank of the Year in 2006.
A leader in financial inclusion
Fidelity Bank has been at the forefront of promoting financial inclusion, ensuring banking services reach the underbanked and unbanked populations.
Through its extensive agency banking network, comprising over 8,000 agents, the bank has extended financial services to some of the most remote areas of Ghana.
The Smart Account initiative has simplified account opening, while pilot programs for tailored loans continue to support 1.7 million financially underserved customers.
The bank also invests in training and certifying its agents to enhance service delivery.
Embracing digital transformation
As technology reshapes the banking industry, Fidelity Bank remains committed to enhancing its digital capabilities.
A newly established Special Projects Office at its Head Office has been created to integrate core banking, digital, and optimization teams, fostering innovation and improving customer experiences.
Fighting fraud and promoting financial literacy
Fraud, particularly social engineering scams, remains a pressing challenge in the banking industry.
Fidelity Bank recognizes this as a national issue and is calling on stakeholders, including the media, to collaborate in raising awareness and promoting financial literacy.
Commitment to sustainability
Sustainability is a key focus for Fidelity Bank. The bank has enhanced its Environmental and Social Risk Assessments (ESRAs) and implemented measures to reduce its environmental footprint. Notable achievements include recycling 3.74 tonnes of paper, increasing the use of renewable energy, and cutting emissions.
Additionally, the bank prioritizes sustainability in its procurement processes, with 90% of vendors being local.
Responsible business practices also guide its lending decisions, ensuring that financial support aligns with ethical and sustainable business operations.
Through sustainable finance, Fidelity Bank continues to support key sectors, including agriculture, SMEs, and women entrepreneurs.
Initiatives such as the Fidelity Young Entrepreneurs Initiative (FYEI), the Orange Corners Innovation Fund (in partnership with the Kingdom of the Netherlands), and its collaboration with the Mastercard Foundation on the Bridge in Agriculture program have significantly impacted Ghana’s economy.
With a strong commitment to innovation, inclusion, and sustainability, Fidelity Bank Ghana continues to set the benchmark for excellence in banking, empowering communities and businesses while shaping the future of Ghana’s financial sector.