IFAD is partnering with Fidelity Bank Ghana under the PRIME Africa initiative to enable
remittance recipients in high-migration rural areas to increase their share of remittances
saved in formal bank accounts. Remittance recipients without proximity to a bank branch
end up having to foot costly journeys to cash out their remittances. By targeting un(der)
banked remittance recipients, Fidelity Bank will enable termination of remittances directly into a savings account. As a result, rural customers will incur lower costs and will save time and expenses as a result of not having to travel long distances. Fidelity Bank is uniquely positioned to support a sustainable shift from cash-based remittances to digital accountbased transfers in rural areas due to its network of 5,000 agents across the country.