

In order to deepen local market participation, in 2018, “we were made Joint Bookrunner for the public sector’s medium to long-term bonds. Over GHS 7 billion has been raised since the launch of the Programme and its success created the financing solution blueprint for other cedi-denominated bond issuances”. Plc Bond Programme under which cedi-denominated medium to long-term amortising bonds was issued. Touting its laurels in the financial and capital markets, the bank recalled that in July 2017, “we were appointed as Joint Lead Manager for the GHC 10 billion E.S.L.A. On the local front, Fidelity Bank said: “we continue to add value to Ghana’s future economic growth potential”. It noted that for the past four consecutive years, “we have assisted the public sector by working with Joint Lead Managers and other local banks to ensure successful Eurobond issuances”. Prior to 2018, leading any aspect of a country’s access to global financial markets was deemed the preserve of only multinational banks in developed countries, but the bank said “following our success as the logistics bank for the 2018 Eurobond issuance, the status quo has changed and other local banks have had the opportunity to contribute to Ghana’s Eurobond issuances”.

On international transactions, “we were the first local bank to manage the logistics for a Eurobond issuance for Ghana”. “Some of these development projects are in the energy and construction sectors, as well as international financial transactions like the aforementioned US$3.025 billion Eurobond issuance”. Over the years, Fidelity bank said it has “spearheaded a number of innovations and market developments in Ghana’s financial and capital markets that have resulted in substantial financial gains for the country”. He added that this result was due to the “strong collaboration between us and other local financial institutions”. He further intimated that this recent Eurobond issuance not only marked the first time a zero-coupon bond denominated in USD had been issued by an emerging market nation but more importantly that its success is largely attributed to the fact that more than half of the new money raised in this novel tranche came from the local Ghanaian investor base. “The successful issuance of the recent US$3.025 billion Eurobond by the government of Ghana is proof of the enormous financing opportunities that are available to the government and businesses in the financial and capital markets space,” Mr Aidoo added. “This successful setup has quickly become a sound model for the market, providing a suitable framework for other participants to build out new and important business lines to further support the growth of our markets”.Ĭommenting on the banks contribution to Ghana’s financial and capital markets, Mr Sam Aidoo, the Deputy Managing Director, stated: “We are committed to partnering with both private and public institutions in creating more marketable offerings in a bid to attract sustainable international and increasingly important, local financing for development projects in the country”. The commitment to supporting Ghana’s economic growth, the bank noted, led to the establishment in 2017 of a specialised unit to develop tailor-made solutions to assist the private and public sectors to take advantage of the nation’s vibrant financial and capital markets.

“One of our key markets of focus is the country’s financial and capital markets”, the bank said. “We have teams that specialise in a number of strategically important sectors that support Ghana’s real economy”, the bank said in a statement, adding: “We recognise that achieving sustained economic growth requires strong partnerships with critically important market stakeholders if they are to realise lasting positive changes”. Over the years, Fidelity Bank says it has initiated strategic projects with key industry stakeholders to support the growth and development of the financial and capital markets in Ghana.
