Business News of 2014-05-22

Fidelity Bank, DEG hold risk management workshops

Fidelity Bank, in partnership with Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG), has organised a four-day workshop for a cross-section of the bank’s staff on the implementation of the Environmental and Social Risk Management (ESRM) strategy.
The training, thus, deepens the bank’s commitment to best practices in risk management, particularly in supporting environmental protection and social responsibility.
The programme, which was attended by representatives from the various departments within the bank, was opened by the deputy managing director of the bank, Mr Jim Baiden.
Ms Melissa Makwarimba of InnovativKonzept (IK) facilitated the training, while Mr Sebastian Spitzer, Manager for DEG, and Kristin Sjoblom, Senior Manager for Swedfund, were in attendance.
The objective of the workshop was to enable participants to familiarise themselves with Environmental and Social Risk Management tools and procedures in preparation for its adoption in all corporate credit analysis.
Other highlights such as trends in environmental, health and safety standards, as well as DEG and performance standards were introduced to the participants for adoption.
As part of practical demonstrations at the workshop, participants visited Woodfields Energy Resources in Tema, a tank farm, to acquaint themselves with practical assessment procedures in the field.
Mr Baiden reiterated the importance of implementing the ESRM strategy within the bank, and said having benefited significantly from the workshop, the participants should become ESRM champions at the bank by sharing and leading their colleagues to enrich the bank’s overall credit analysis.
He stressed the need for the bank to always ensure the employment of sound environmental practices by industries.