Affinity Savings and Loans launched

By Deborah Asantewaah SARFO

Affinity Ghana Savings and Loans has established its presence in the financial landscape after two years of operation. The company has pledged to safeguard public funds and uphold the highest standards of financial integrity.

The Chief Executive Officer (CEO) of Affinity Ghana, Abdul-Jaleel Hussein, emphasised the institution’s robust strategies and structures which ensure adherence to corporate governance in protecting the sector’s sanctity and customers’ funds.

Speaking on sidelines of the launch, he stressed that as a budding financial company they have drawn some lessons from the recent challenges which bedevil the sector and will act differently.

“Affinity has been an operation for the past two years. We have not introduced ourselves to the market yet our products are in the system. Today’s launch aims to introduce Affinity as a brand to the Ghanaian market and tell a story of the wonderful products and platforms we have designed for the market.  We assure our customers and the general public that we are doing everything to keep the country’s financial sanctity and protect our customers’ funds,” he said.

Mr. Hussein indicated that the company’s tagline, ‘You are in’, underscores their commitment to financial inclusion and offering affordable services to customers. He expressed appreciation to the Bank of Ghana (BoG) for approving Affinity’s app, designed to enhance financial inclusion while ensuring the safety of customers’ funds.

Founder and Group CEO-Affinity Africa, Dr. Tarek Mouganie, emphasised the company’s mission of “empowering Micro, Small and Medium-sized enterprises (MSMEs) by providing accessible and affordable banking services.”

He described MSMEs as “the biggest job creators” and emphasised that financial inclusion drives social and economic development, granting access to education, healthcare and clean energy.

For his part, Head-SDI, BoG, Alex Koomson urged the board of Affinity to relook at their business model to align with the ‘letter and spirit’ of the licence as BoG plays its part in reforming the sector.

“While the BoG continues to reform the sector, I encourage you to take a second look at your business model and reorient it to the ‘spirit and letter’ of your licence. This, I believe, will be more beneficial; you can touch the lives of many individuals and lift them out of poverty,” he urged.

To provide customised financial services that meet customers’ needs, he advised them to enhance their operations by collaborating and leveraging on innovations of fintech companies.

Mr. Koomson noted that Affinity Ghana’s growth in customer base and product offerings – leading to an asset size of GH¢54.78million – demonstrates its potential to be a significant player in the financial ecosystem.

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