Affinity Africa announced that it has reached 100,000 customers in Ghana, a milestone that underscores the rapid adoption of its digital banking platform since launch. The achievement reflects growing demand for low-cost, always-on financial services among individuals and small businesses that have historically been underserved. It also signals that Ghana’s fintech market continues to reward clear value propositions, strong compliance, and disciplined execution.
Rapid Customer Growth
The customer base has scaled quickly on the back of simple onboarding, transparent pricing, and products tailored to everyday cash flow needs. Affinity reports that a majority of users were previously outside the formal banking system, with women in the informal sector making up a significant share of new accounts. That mix points to product-market fit in a segment where trust, speed, and affordability drive switching behavior.
Inclusive Banking Model
Affinity operates a branchless, fully digital model supported by proprietary technology and an agent network, delivering services through a mobile experience that runs around the clock. The platform offers personal and SME accounts, savings, payments, transfers to banks and mobile money wallets, investments, and loans, giving customers a single pane of glass for daily finance. By charging no monthly fees or transaction charges, the company positions itself as a cost-effective option that can compete with both traditional banks and mobile money wallets.
Regulatory Foundation and Product Suite
Founded in 2022, Affinity secured a Savings and Loans license from the Bank of Ghana, described by the company as the first such approval in over a decade, then opened to the public in October 2024 after its app gained regulatory clearance. That license anchors a full-stack offering that blends deposit-taking with credit, while maintaining the prudential standards expected of supervised institutions. Over time, the firm has layered in features that help customers manage liquidity and build resilience, from goal-based savings to credit for micro and small enterprises.
Leadership and Capitalization
The company is led by Chief Executive Officer Abdul-Jaleel Hussein, with founder Tarek Mouganie bringing engineering and banking experience to the strategy and product agenda. Affinity has disclosed an $8 million seed raise involving Attijariwafa Ventures and international backers, capital that supports technology scaling, risk management, and geographic and product expansion. The financing has coincided with steady growth in deposits and a loan portfolio that is increasingly diversified across retail and MSME use cases.
Industry Recognition and Outlook
Affinity took first place at the 2025 AFI Inclusive Fintech Showcase during the Global Policy Forum in Swakopmund, Namibia, a competition judged by policymakers and industry experts focused on financial inclusion. That recognition validates the platform’s design choices and its progress in extending quality financial services to low-income communities. Looking ahead, the company frames the 100,000-customer mark as a waypoint, with an emphasis on responsible growth, stronger credit analytics, and deeper integration with Ghana’s digital payments rails.
Hitting 100,000 customers in Ghana gives Affinity Africa tangible proof that a simple, affordable, and regulated digital bank can scale in a competitive market. The combination of a branchless model, no-fee pricing, and an inclusion-led product strategy has resonated with unbanked and underserved users, particularly women and micro businesses. With regulatory footing, fresh capital, and external endorsements in place, the company now faces the execution test of turning early momentum into durable, system-level impact.