Fidelity Bank signs $15m-dollar deal with Dutch finance company

Fidelity Bank, Ghana, has signed a 15 million-dollar deal with the Netherlands Development Finance Company (FMO) in an effort to strengthen the Bank’s position on the Ghanaian market.

In a statement signed by Nana Sarfo, Head of Corporate Finance, Fidelity Bank, he said the loan would help make long-term US dollar funding available to local Ghanaian companies so that they could grow their businesses and the economy.

“With the loan from FMO, Fidelity Bank will be able to strengthen its position on the Ghanaian market by making available long-term US dollar funding to local Ghanaian companies,” the statement said.

It said the Bank with its 20 branches across the country had managed to double its customer base in the last 12 months to over 100,000 customers and was expected to increase its branch network across the country to 25 by the end of the year.

Mr Ruurd Brouwer, Director, Financial Institutions at FMO, praised Fidelity Bank for the initiative and pledged FMO’s assistance to it.

“Fidelity Bank is very committed to further improving its environmental, social and governance standards. FMO will support the bank with the implementation of these standards,” he said.

Mr Daniel Marfo, Director of Cooperate Banking, Fidelity Bank expressed satisfaction with the Bank’s partnership with FMO which would help foster private sector development.

Source: GNA