Fidelity Bank Ghana

Fidelity Bank Ghana Limited (FBGL), supported by FSD Africa, launched 'Project 5x5x5' to open 5 million accounts in 5 years via 5,000 agents. The initiative introduced the 'Smart Account', which uses simplified KYC requirements (National ID) and a mobile app to target unbanked and underserved rural populations. As of the report date, the project has enrolled 2,600 agents and opened over 790,000 accounts, achieving a gender split of 51% female and 49% male. The project has evolved from a standalone inclusion initiative into a mainstreamed business process, incorporating digital savings and credit products developed with telecommunications companies. The initiative has influenced the broader Ghanaian market, leading two other banks to launch their own agency banking networks.

• Fidelity Bank Ghana Limited (FBGL) launched 'Project 5x5x5' with the goal of opening 5 million accounts over 5 years using a network of 5,000 agents.
• The project utilized a 'Smart Account' with low KYC requirements, requiring only a National ID and a mobile app for opening, to reach unbanked and underserved rural populations.
• The initiative has achieved significant scale and gender parity, with over 790,000 accounts opened and a customer base consisting of 51% women and 49% men.
• Agency banking has transitioned from a specific inclusion project to a mainstreamed business process serving all banking segments and integrating digital credit and savings products via partnerships with Telcos.
• The project's success has triggered market-wide changes in Ghana, resulting in two other banks launching their own agency banking networks.

APA

Inc, K. (2019). Fidelity Bank Ghana. FSD Africa. https://fsdafrica.org/fidelity-bank-ghana/

Chicago

Inc, Kihingu. Fidelity Bank Ghana. FSD Africa, 2019. https://fsdafrica.org/fidelity-bank-ghana/.

Wikipedia

{{cite report |last1=Inc |first1=Kihingu |title=Fidelity Bank Ghana |publisher=FSD Africa |date=26 September 2019 |url=https://fsdafrica.org/fidelity-bank-ghana/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{inc2019fidelity, author = {Inc, Kihingu}, title = {{Fidelity Bank Ghana}}, institution = {FSD Africa}, year = {2019}, month = sep, url = {https://fsdafrica.org/fidelity-bank-ghana/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }