Save for rainy days — Baiden

The Deputy Managing Director (DMD) of Fidelity Bank Ghana, Mr Jim Baiden, has reiterated the need for people to cultivate a savings habit in order to improve their lives and that of the economy. 

In an interview after a ceremony to present awards to winners in the “Fidelity Save for Gold” promotion, he said savings also positioned customers in a better stead to borrow from the bank to support their businesses. 

“It is good to encourage household and businesses to put money away for the rainy day.  We, therefore, encourage people to build upon their deposits over a period of time so that together with the interest accrued, they can get enough money for their future projects,” Mr Baiden said.

The “Save for Gold” promotion was a six-month campaign aimed at inculcating the habit of savings in Ghanaians, especially customers of the bank as they were rewarded with gold prizes.

“We encouraged customers to often save. The winners of this great promotion are benefiting in two ways — taking on the habit of saving and winning gold prizes,” he added.

Mr Festus Armoh Nweamah won the top prize and was awarded with one-kilogramme 24 carat gold. Ms  Mary Tumpi, the first runner-up, was presented with half a kilogramme 24 carat gold, while Sezan Houenou, the third winner, was presented with a quarter kilogramme 24 carat gold.

The Fidelity Bank DMD said the bank’s research showed that out of the about 15 million registered voters in the country, only five million had bank accounts. That meant that majority of those who qualified to vote were unbanked.