Fidelity Bank unveils ‘Go for Gold’

Fidelity Bank will be 5 years next year and as a sign of appreciation, the Bank over the weekend launched a very innovative promotion amidst pomp and pageantry in Accra to reward its loyal customers.

The promotion, dubbed, the ‘Go for Gold’ promotion seeks to reward one loyal customer a bar of gold, 24 carat, the first of its kind in Ghana and also reward other customers with lip smacking prizes in the monthly draws.
The launch which was on the theme ‘Encouraging the saving culture in all Ghanaians for future happiness and comfort’, is to woo Ghanaians to buy the idea of saving for a bright future.

On the concept behind the Go for Gold promo, the Chief Executive Officer and Managing Director of Fidelity Bank, Mr Edward Effah explained that as an indigenous bank, Fidelity sees its customers as its pride and fervently believes that such customers deserved to be treasured and appreciated with something as valuable as a Gold Bar.

“Fidelity Bank is very much an indigenous Ghanaian Bank born out of the then Fidelity Discount House in Ghana. Gold as we know is synonymous with Ghana. It is the nation’s pride, indeed a treasure and a major foreign exchange earner.

…As part of the promotion, all new accounts opened with a minimum amount of GH¢300.00 will qualify for a coupon. Multiples of GH¢300.00 will automatically attract multiples of coupons.

For existing accounts those who leave balances of GH¢300.00 and more will get a coupon and multiples of GH¢300.00 will attract multiples of coupons.

The ultimate grand prize is a bar of gold estimated at 60,000.00. There would be a lot of consolation prizes every month in the monthly draws,” he revealed.

Mr. Effah indicated that already, the bank has endeared its heart to many customers ranging from individual salaried workers through to small and medium scale entrepreneurs and big corporate clients.

“As we prepare to usher in 5 years of loyal and dedicated service to our customers, Fidelity Bank has decided to reward its existing customers while attracting new ones to its fold with the introduction of the ‘Go for Gold’ promo,” stressed the Fidelity Bank MD.

In his address, the Deputy Minister of Finance, Mr Fiifi Kwettey, who stood in for the Vice President, John Dramani Mahama, said the idea to reward the ultimate winner with a grand prize of 24-carat; 1 kilogram bar of gold was an ingenious move by Fidelity Bank to showcase and promote the country’s natural resource.
“It is also characteristic that the bank chose gold as its grand prize which seeks to promote Ghana’s most prized natural resource. Research over the years, has demonstrated the important role that a highly developed financial sector has in facilitating economic growth through effective financial resource mobilization for investment in the real economy,” the deputy finance minister underscored.

He said competition within the financial sector has brought innovation and development of new financial products and services that has contributed to the growth of businesses in the financial sector and the benefit of society as a whole, though much more was still desired.
“Savings culture in Ghana is generally low with only about 20% of Ghanaian population with bank accounts. Government has taken proactive steps to address this challenge with support from the German financial corporation and has launched the E-zwich rural branchless banking services as a crucial policy measure to increase access to financial services for the under-served population in rural areas,” Mr. Kwettey said.
He revealed that the Ministry of Finance and Economic Planning has initiated Finscope Ghana Demand Survey aimed at identifying barriers and highlighting opportunities for innovation in both formal and informal sectors which will improve the reach and depth of financial service delivery in Ghana.
The minister charged operators in the banking sector including Fidelity Bank to compliment government’s efforts to design financial products which are simple, accessible and efficient to bring on board the large unbanked population.
He pledged government’s continuous support to promote convergence, integration and development of Ghana’s financial sector to become preferred source of finance for domestic companies, promote efficient savings mobilization, safe haven for foreign direct investment, ensure stronger and more facilitative regulatory regime to achieve a diversified domestic financial sector within a competitive environment which are aimed at positioning Ghana as the financial hub of the sub-region.
Against this background, he urged every Ghanaian to open Fidelity Bank accounts and save money in order to win the gold bar.