Fidelity Bank To Promote Financial Literacy Through Monopoly Ghana Edition

Financial literacy is said to be a key driver for financial institutions to reach out its services to the unbanked population in the country.

Research has shown that over 60% of the Ghanaian population are unbanked and it is believed that those people are mostly deterred by cost, requirements and documentations.

According to Dr William Derban Director for Financial Inclusion at Fidelity Bank, expanding financial services to the over 60% unbanked population in Ghana will require a lot of education and suitable banking products to financially empower people.

“For people to be financially empowered, they need suitable products. Expanding financial services to the over 60% unbanked in Ghana will require a lot of education and I hope this game will go a long way to support this agenda,”Dr William Derban, said at a media conference to launch the Accra edition of the Monopoly Game.

“People simply need to be financially capable to survive in our world,” Dr William Derban stated.

He added that on financial information, Fidelity Bank in conjunction with GIZ has provided over 20,000 leaflets on basic banking services such as savings, insurance and credit to people from all walks of life. This is making a huge impact in communities.

According to Dr Derban, Fidelity Bank has started a new initiative on ‘future of banking’ seminar series for students to educate them on how technology is revolutionizing banking.  “Through the Monopoly Game, we hope to even attract younger people to educate them on the fundamentals of finance,” he added.

On the issue of providing suitable products for the unbanked, Dr Derban said Fidelity’s Smart Account is now allowing the unbanked to have accounts instantly with very little requirements. “Our network of almost 500 agents, allow our clients easy access to their money. This is changing the face of banking in Ghana,” he added.

He indicated that the bank has a team of dedicated relationship managers across their businesses that offer advice on all financial needs.

Dr Derban indicated Fidelity Bank’s pride to associate itself with the Monopoly Game-Accra edition, as the largest privately owned Ghanaian bank in the country.