Ghana's Affinity Africa introduces "Boost" service, aiming to let users generate returns on their savings
In an exciting development for the Ghanaian fintech landscape, Affinity Africa, a fully regulated, branchless digital banking platform, has launched Affinity Boost - a goal-based savings account designed to help customers achieve their financial goals.
Founded by Tarek Mouganie in 2022, Affinity Africa has been making waves in Ghana's financial sector, providing affordable and accessible financial services to individuals and Micro, Small, and Medium Enterprises (MSMEs). The launch of Affinity Boost expands Affinity Africa's suite of savings accounts, which includes Affinity Daily, Affinity Growth, and Affinity Future.
Affinity Boost offers a competitive annual interest rate and allows users to set specific savings goals, such as buying a motorcycle, starting a business, or booking a trip. Users can also choose flexible tenors and top up funds to grow their money faster.
The top-up functionality, a key feature of Affinity Boost, allows users to add extra funds at any time, providing flexibility in saving towards their goals. Abdul-Jaleel Hussein, CEO of Affinity Ghana, stated that Affinity Boost was built in response to customer feedback, aiming to provide a new way for users to earn interest while saving towards their goals.
In an oversubscribed seed round earlier this year, Affinity Africa raised US$8 million. The funds are being used to expand Affinity Africa's reach within Ghana and enter new markets. Affinity Africa plans to expand its Affinity Boost offering in the future to Nigeria, Kenya, Zambia, and South Africa, in addition to Ghana.
Affinity Boost offers a unique approach to savings, providing users with a tool to manage their finances effectively and work towards their goals. With its competitive interest rates, flexible tenors, and top-up functionality, Affinity Boost is set to revolutionise the savings landscape in Ghana and beyond.
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