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International Business Machines Corp. (IBM) has announced it has been awarded a US$66mn, five year contract with Fidelity Bank Ghana to manage IT infrastructure and services

The announcement was made at the US Africa Business Forum, part of a three-day Africa summit which welcomed political leaders, officials and business executives in Washington, IBM said.

Fidelity Bank managing director stated that the relationship with IBM will support the bank in facing new challenges at a time of rapid growth in the banking sector and rising competition.

IBM’s work at the wheel of Fidelity’s IT will include “management of its server, security, storage, networks, end user services, branch IT support, ATM infrastructure support and datacenter services,” it said in a statement.

Fidelity Bank currently has US$1bn in assets and said it is set to become one of the country’s top three banks in the next five years. The bank is owned by Ghanaian and international investors, including the Kagiso Tiso Holdings (KTH), Amethis Finance, and Edmond de Rothschild Europportunities Management II (ERES).

IBM has closed “more than 20 banking deals throughout Africa over the last five years,” in Kenya, Ghana, Nigeria and the Democratic Republic of Congo,” the statement continued.

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