Fidelity Bank Ghana has issued a public clarification distancing itself from an entity operating under the name “Fidelity Capital Investment Group.”
In a statement, the bank said neither Fidelity Bank Ghana nor its investment subsidiary, Fidelity Securities Limited (FSL), has any affiliation, association or connection with the said entity or its activities.
The bank stressed that Fidelity Securities Limited, which operates within the Fidelity Group, is a duly licensed and regulated investment and asset management firm under Ghana’s Securities and Exchange Commission (SEC).
According to the statement, Fidelity Securities operates in full compliance with all applicable regulatory requirements in the country’s financial and investment sector.
“Fidelity Bank Ghana has taken note of media reports and public discussions regarding an entity operating under the name “Fidelity Capital Investment Group”.
“We wish to clarify that Fidelity Bank Ghana and its subsidiary, Fidelity Securities Limited, are in no way affiliated, associated, or connected with the said entity or its activities.
“Fidelity Securities Limited (FSL), the investment and asset management subsidiary within the Fidelity Group, is a duly licensed and regulated entity under the Securities and Exchange Commission (SEC), Ghana, and operates in full compliance with all applicable regulatory requirements,” part of the statement read.
Fidelity Bank also expressed concern over the use of the “Fidelity” name in a manner that could potentially create confusion among the investing public or suggest an association with the bank’s brand.
The bank subsequently urged investors and the general public to exercise caution and independently verify the legitimacy and regulatory status of investment institutions directly with the Securities and Exchange Commission before making investment decisions.
Fidelity Bank Ghana further reaffirmed its commitment to integrity, transparency, and customer protection in its operations.
“We are therefore concerned by any use of the “Fidelity” name in a manner that may create confusion or mislead the public into assuming an association with our brand. We encourage the public to exercise caution and always verify the legitimacy and regulatory status of any investment institution directly with the Securities and Exchange Commission before making investment decisions.
“Fidelity Bank Ghana remains committed to the highest standards of integrity, transparency, and customer protection,” the statement concluded.
The clarification comes at a time when the Securities and Exchange Commission Ghana (SEC) has cautioned the public against investing with Fidelity Capital Investment Group, an entity said to be operating in a manner similar to a Ponzi scheme by promising unusually high returns through platforms such as Telegram.
Deputy Director-General of the SEC, Mensah Thompson, in a Citi Business News interview said the company is not licensed by the regulator to operate in Ghana’s capital market.
He urged the public to exercise caution and avoid committing funds to unregulated investment schemes, warning that such offers often pose significant risks to investors’ capital.
