Business News Sat, 17 Nov 2018
FIDO Money Lending Limited (FIDO) has organized a two-day financial and digital literacy workshop for market women in Kaneshie, Accra.FIDO is an innovative financial technology company that provides convenient mobile credit services to under banked individuals,
Through an engaging mobile e-learning platform, the beneficiaries of the programme were enlightened on basic financial literacy concepts including savings, lending, operating bank accounts and mobile money usage. On the digital aspects, the women were taught how to capitalise on mobile phones to enhance their businesses.
The widely patronized event was part of the company’s sustained Corporate Social Investment (CSI) effort aimed at promoting financial inclusion through financial and digital literacy.
Speaking at the event, Deputy General Manager of FIDO Ghana, Fred Frimpong, said:
“The need for all citizens to be educated in financial matters is critical to improve financial decision-making. FIDO has already supported the underbanked segment with close to 20 million USD of credit and we are committed to continue our mission towards financial inclusion in Ghana. This week training will upgrade the financial and digital knowledge of these women in the informal sector.”
Mrs Felicia Lomotey, a beneficiary of the programme, expressed appreciation to FIDO for the training and their innovative approach to provide convenient credit.
“The training was good. I have learned how to create a Facebook business page to sell my products; how to increase my money with savings and loans. I will try FIDO loan as it is convenient and suit my needs. The best thing is that I can use my phone to apply and receive a loan without living my shop. I would like to thank FIDO for thinking about us,” she said.
FIDO’s credit solution bridges the gap in access to credit services for underbanked consumers and micro-entrepreneurs. It provides short-term and convenient digital micro-loans through a mobile application. Loans ranging from GHC50 to GHC600 can be accessed instantly without a guarantor or collateral. The loans are disbursed instantly to the customers’ mobile wallets.
FIDO is committed to provide access to financial products and services that meet the needs of Ghanaians, and delivered in a responsible and sustainable manner. FIDO believes that financial literacy contributes to increase long-term opportunities for individuals to create positive returns for themselves and their communities.