Ghana’s Fido Secures $5.5m Debt to Expand Digital Lending

Fido Ghana has secured $5.5 million in debt financing to expand its digital lending operations and scale its platform in Ghana and Uganda.

The funding was provided by the Regional MSME Investment Fund for Sub-Saharan Africa, managed by Swiss-based impact investor Symbiotics.

Founded in 2014, Fido operates a mobile-based financial platform offering instant loans, savings products and microinsurance. The company uses a proprietary artificial intelligence model known as Fido Score to assess…