ImpactAlpha, August 24 – More than 40% of adults in Ghana don’t have a bank account. Fidelity Bank Ghana, one of the country’s largest private banks, has been trying to bring traditional banking services to un- and underbanked adults through its Inclusive Banking division.
An investment from LeapFrog will enable Fidelity, which serves two million customers, to expand mobile money, micro- and small-business loans and other products for underserved customers.
LeapFrog acquired 17% of Fidelity Bank by buying stakes from investment fund manager Amethis and Edmond de Rothschild Equity Strategies, both of which have been Fidelity investors since 2014.