Sam Aidoo and Prince Thomas Essilfie, Divisional Director, Financial and Capital Markets, Fidelity Bank
FIDELITY BANK Ghana says it is committed to supporting the growth and development of the financial and capital markets in Ghana.
According to Sam Aidoo, Deputy Managing Director of Fidelity Bank, Fidelity Bank was committed to partnering 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.
He said the successful issuance of the recent $3.025 billion Eurobond by the Government of Ghana was proof of the enormous financing opportunities that were available to the government and businesses in the financial and capital markets space.
Mr. Aidoo further said the recent Eurobond issuance not only marked the first time a zero-coupon bond denominated in US dollars had been issued by an emerging market nation but more importantly that its success was largely attributed to the fact that more than half of the new money raised in such novel tranche came from the local Ghanaian investor base.
He added that such result was due to the strong collaboration between Fidelity Bank and other local financial institutions.
Over the years, the bank 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. Some of these development projects are in the energy and construction sectors, as well as international financial transactions like the aforementioned $3.025 billion Eurobond issuance.
Following Fidelity’s 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.
For the past four consecutive years, Fidelity Bank has assisted the public sector by working with Joint Lead Managers and other local banks to ensure successful Eurobond issuances.
On the local front, Fidelity Bank says it continues to add value to Ghana’s future economic growth potential, adding that in July 2017, it was appointed as joint lead manager for the GH¢10 billion E.S.L.A. Plc Bond Programme under which cedi-denominated medium to long-term amortising bonds were issued. Over GH¢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.
A business desk report