Published: March 5, 2014
Ghana’s sixth-largest lender welcomes Amethis Finance and Edmond de Rothschild fund as investors.
Fidelity Bank Ghana has attracted new institutional investors after agreeing to sell a minority stake of its business to investment firm Amethis Finance and Edmond de Rothschild's Europportunities Management II fund.
The bank aims to raise almost US$70mn through equity dealings to improve its capital base and fund expansion plans. Its new investors are taking the undisclosed stake for US$35mn alongside South Africa investment firm Kagiso Tiso Holdings.
Fidelity Bank Ghana is the country’s sixth-largest bank, with 50 branches across nine of the country’s 10 regions and a workforce of some 1,800.