Fidelity Bank raises $130 million capital
Fidelity Bank Ghana Limited has raised $130 million (GH₵329,875,000) in significant capital, the CEO of the Bank, Mr Edward Effah has announced.
Mr Effah said the money was realised through private placement
The Fidelity CEO made this known Tuesday at the Graphic-Fidelity Bank Economic Dialogue held at the Alisa Hotel in Accra.
He said the bank collaborated with Graphic Communications Group Limited (GCGL) to host the dialogue series because of the belief it had in Ghana and in the stability of the economy.
According to him, the well-being of the economy mattered to all Ghanaians, including the 500,000 customers of Fidelity Bank and its 2000 employees.
“We want to see growth in the economy,” he said, adding: “the economy is central to everything we are doing.”
Mr Effah said there was a huge gap between the business community and the politicians on the level of confidence in the economy. He said the economic dialogue therefore aimed at bringing business community and politicians together to brainstorm and share ideas with the view to bridging this gap.
The Managing Director of Graphic Communications Group Limited (GCGL), Mr Ken Ashigeby, called on local industries to lead the way in transforming the national economy.
He said that was why GCGL collaborated with Fidelity Bank, an indigenous company, to organise an economic dialogue series with the view to empowering Ghanaian intellectuals to brainstorm and share ideas on the way forward for the economy.
He said unlike foreign investors in the Ghanaian economy who can relocate to fairer environments in challenging times, indigenous businesses have no choice but to stay and strive on whether conditions are good or bad.
The dialogue series brought together some former finance ministers, Including Dr. Anthony Akoto Osei and Mr Moses Asaga, to discuss “The State of the Economy”.
Current Finance Minister, Mr Seth Terkper, also attended the event, which was chaired by Mr Kwame Pianim, an economist.