Project detail - FIDOR FZCO

FIDOR FZCO

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Who is our client

FIDOR FZCO is a consultancy firm that provides advisory services in relation to digital banking, to enable banks and other companies to evaluate, enhance and establish digital banking propositions.

Funding objective

To co-fund the services of FIFOR FZCO to support Fidelity Bank Ghana Ltd. with the development of its Strategy for Digital Financial Services, enabling it to widen its market reach through new customer acquisition using a cost-effective model.

Why we fund this project

For FIDOR FZCO to support Fidelity Bank’ s strategy for digital financial services and build its capacity for better serving their customers. FMO is co-funding this through its Capacity Development Program because this is one of our priority areas as we believe that digital transformation and, in particular financial inclusion, is one of the crucial topics for our customers in the future. Through Agent Banking channel, Fidelity Bank is providing easy to access inclusive digital financial services to the underserved and unbanked marginal community of Ghana, thus bringing them under the formal financial umbrella.

Country
Global
Sector
Financial Institutions
Signing date
5/27/2020
Total FMO financing
EUR 0.08 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)