Fidelity Bank Ghana has issued a public clarification distancing itself from an entity operating under the name “Fidelity Capital Investment Group,” insisting that it has no affiliation, association, or operational link with the said organisation.
In its statement, the bank also clarified that neither it nor its investment subsidiary, Fidelity Securities Limited, has any connection to the activities being attributed to the unauthorised entity.
The bank explained that Fidelity Securities Limited, which operates within the Fidelity Group, is a fully licensed and regulated investment and asset management institution under the oversight of the Securities and Exchange Commission Ghana, and conducts its operations in strict compliance with applicable financial regulations in the country.
According to the statement, the bank has taken note of media reports and public discussions concerning the activities of the entity using the “Fidelity Capital Investment Group” name, and is concerned about the potential confusion such branding may create among investors and the general public.
It stressed that the use of the “Fidelity” name in this context risks misleading the public into assuming an association with the bank’s legitimate brand and regulated financial operations.
The bank further urged the investing public to exercise caution when dealing with financial schemes and to independently verify the licensing status of any investment firm directly with the Securities and Exchange Commission before committing funds.
It reiterated its commitment to maintaining high standards of integrity, transparency, and customer protection in all its operations, while distancing itself firmly from any unregulated or suspicious investment activity operating under similar branding.
The clarification comes in the wake of warnings issued by the Securities and Exchange Commission Ghana, which has alerted the public about the activities of Fidelity Capital Investment Group, an entity alleged to be operating without regulatory approval and reportedly offering unusually high returns through online platforms, including Telegram.
According to SEC Deputy Director General Mensah Thompson, the entity in question is not licensed to operate within Ghana’s capital market and therefore falls outside the regulatory framework governing legitimate investment activities.
He cautioned that such unlicensed schemes often exhibit characteristics similar to Ponzi arrangements and pose significant risks to unsuspecting investors, including potential loss of capital.
The SEC has therefore advised the public to remain vigilant, avoid unregulated investment offerings, and verify all financial entities before engaging in any form of investment transaction.
