LeapFrog Investments has acquired a 16.94% stake in Ghana’s largest privately-owned bank, Fidelity Bank Ghana Limited, from Amethis, an investment fund manager dedicated to the African continent, and Edmond de Rothschild Equity Strategies (ERES), a mid-cap growth and buy-out franchise affiliated with the Edmond de Rothschild Group.

Following the investment from Amethis and ERES in 2014, Fidelity Bank embarked on an expansion drive via the acquisition of Pro-Credit Savings and Loans t...