Private equity firm AfricInvest acquires minority stake in Fidelity Bank Ghana

GHANA – AfricInvest, a pan-African investment and financial services firm, has acquired a minority stake in Fidelity Bank Ghana Limited, Ghana’s largest private bank. The acquisition was carried out through its two funds, AfricInvest Fund IV and FIVE (AfricInvest Financial Inclusion Vehicle), from Kagiso Tiso Holdings Proprietary (KTH), a South African private investment company, AfricInvest and Fidelity Bank Ghana said in a joint statement. Founded in 1998, initially as a discount house, Fidelity Bank obtained its universal banking license in 2006 and has since grown to be the largest privately-owned…

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