Digital Banking Revolution: Affinity Africa’s $8M Funding Transforms Financial Access”
- Affinity Africa secured $8 million in seed funding to revolutionize banking access in Africa.
- The platform has grown its customer base to over 50,000 users since launching in Ghana in October 2024.
- 65% of customers are accessing formal banking services for the first time, with over 60% being women in the informal sector.
Affinity Africa's approach to financial inclusion is commendable, as it not only addresses the needs of underbanked populations but also demonstrates a sustainable business model that could inspire similar initiatives across the continent. The focus on women in the informal sector is particularly noteworthy, as empowering this demographic can lead to broader economic growth. However, the company must navigate the challenges posed by traditional banking inefficiencies to maintain its growth trajectory.
