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Business News of Monday, 4 May 2020

Source: Fidelity Bank

Fidelity Bank supports coronavirus Infectious Disease and Isolation facility with GHC1m

As part of efforts to assist the Government to fight the spread of the COVID-19 in the country, Fidelity Bank has donated GHC1million to the COVID-19 Private Sector Fund during a virtual sod-cutting ceremony.

The Bank's donation is to support the building of the COVID-19 Infectious Disease and Isolation Facility at the Ga East Municipal Hospital. This unit which is estimated to cost $3.5million, is the first-ever Isolation and Treatment Facility in the country and funded by the COVID-19 Private Sector Fund.

Julian Kinsley Opuni, Managing Director of Fidelity Bank, explained the rationale for this donation. He said, "We must support our Government's efforts to save lives through innovative initiatives, such as the COVID-19 Private Sector Fund." He continued, "our donation is in addition to other measures we have already put in place to mitigate the effects of the pandemic on our customers and the general public."

Mr Opuni highlighted measures, such as the reduced interest rates on personal loans for qualifying customers to 17.5% (including a maximum three-month repayment holiday), loan repayment postponement and loan restructuring options for existing borrowers affected by the pandemic.

He added that the Bank's SME & Corporate Clients hard hit by the effects of COVID-19 would receive relief packages that include loan moratoriums and loan restructuring opportunities. He highlighted the Bank's mobile app enhanced services such as salary advance applications, overdraft limit increases requests and loan top-ups from the comfort of their homes.

Mr Opuni concluded his list of measures by underlining the waiver of all interbank transfer fees on all digital transactions and mobile wallet transaction fees for transactions of GHS100 and below.

He called on all Ghanaians, to adhere to the safety measure announced by the President of Ghana, to enhance the success of the fight against the pandemic.

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