Fidelity Bank’s achievements in Ghana have been featured an academic book written by Prof Dana Redford, President of Policy Experimentation and Evaluation Platform.
The book is titled “Developing Africa’s Financial Services: The Importance of High Impact Entrepreneurship,” and addresses the key question of how entrepreneurial financial institutions have been able to rise in Africa, illustrating some inspiring success stories.
Chapter 7 of the book is specially dedicated to Fidelity Bank and authored by Prof. Kwaku Appiah-Adu and Chris Boachie.
The chapter told the Fidelity story from an independent view under the subtitle; Fidelity Bank: Ghana’s Banking Success Story.
The objective of this chapter was to describe the key characteristics of high-impact entrepreneurships in the financial services start-up in South Saharan Africa.
It captured some of the key things undertaken by Fidelity Bank such as its CSR strategy, inclusive banking initiatives such as the Fidelity Smart Account, acquisition of ProCredit Savings and Loans, effective management system, proper HR policies amongst others as strategies that underlie the Bank impressive performance in its first decade of existence.
Commenting on the book, the Managing Director of Fidelity Bank, Mr. Jim Baiden, noted that Fidelity has indeed braced all odds to be where it is today.
“The journey of Fidelity Bank has not been all rosy considering that we entered into the industry with stiff competition from both local and multinational banks. With determination and a focus on our vision to be a world-class bank, however, we knew we could not afford to fail.”
Paragraph four of page 161 of the book reads, “To ensure the relevance of their comprehensive range of products and services, Fidelity’s businesses continually review the demographics of customer segments to ensure that their offerings meet the banking and financial needs of existing and potential customers.” Mr. Baiden commented that “this couldn’t have been said any better. Over the years, we have made it a priority to go beyond customer satisfaction to customer success by delighting our customers at all touch points as well as through carefully developed products and services.”
He was optimistic that the success story of Fidelity Bank as captured by the book would inspire many young entrepreneurs to believe in their dreams and work towards achieving them.
The book was officially co-launched by Dr. Joyce Aryee, Executive Director, Salt & Light Ministries and Nana Osei Bonsu, President of the Private Enterprise Foundation.
Fidelity Bank was issued its universal banking license on June 28, 2006, making Fidelity Bank Ghana Limited, the 22nd bank to be licensed by the Bank of Ghana under the new Banking Act, 2004 (Act 673).
The Bank was also authorized by the Bank of Ghana to undertake Agency Banking in 2013. Fidelity Bank is the 2015 Bank of the year and was adjudged the Most Socially Responsible Bank in Ghana for two consecutive years. The Bank was also named the Bank of the year, 2016 by the Banker’s Publication, promoted by the Financial Times of London. Fidelity Bank was also adjudged the Bank of the year 2016 at the EMEA (Europe, Middle East and Africa) Finance African Banking Awards.