Ghanaian digital banking startup Affinity Africa has officially crossed the 100,000 customer mark, a major milestone that underscores the company’s rapid and organic growth. According to Affinity, this achievement is largely driven by word-of-mouth referrals and strong customer advocacy, as more Ghanaians embrace the platform’s promise of simple, affordable, and inclusive financial services.
Founded in 2022 by entrepreneur Tarek Mouganie, Affinity Africa publicly launched in 2024 as a fully regulated, branchless digital bank. Its mission is to democratize access to financial services for individuals and micro, small, and medium-sized enterprises (MSMEs) across Ghana. By eliminating the need for physical branches and focusing on mobile-first solutions, Affinity has positioned itself as a modern alternative to traditional banking.
The platform offers a comprehensive suite of financial products, including:
- Personal and SME accounts
- Savings and goal-based savings products
- Domestic and international payments
- Transfers to bank accounts and mobile money wallets
- Investment options
- Access to credit and loans
Earlier in 2025, Affinity raised $8 million in an oversubscribed seed funding round, aimed at deepening its footprint in Ghana and preparing for expansion into new African markets. The company is also actively rolling out new products, including Affinity Boost, a goal-based savings account designed to help users accelerate their financial objectives while earning competitive returns.
Founder Tarek Mouganie reflected on the journey, saying:
The idea that banking could be free, fair, and accessible was long dismissed as impossible in Ghana. We’ve proven otherwise. Surpassing 100,000 customers ahead of schedule, and with minimal marketing spend, shows that when you build the right product, your customers become your most powerful advocates.
Unlike many financial institutions that rely heavily on advertising and promotions to scale, Affinity’s growth has been almost entirely organic. The company attributes this to the strength of its product design, transparent, user-friendly, and tailored to the real needs of Ghanaians.
CEO of Affinity Ghana, Abdul-Jaleel Hussein, added:
What’s drawing people to Affinity isn’t flashy campaigns, it’s the product itself. From instant onboarding to clear pricing and some of the most competitive interest rates in the country, Ghanaians are choosing Affinity because they finally see a financial institution built around their needs. Thanks to our proprietary underwriting technology, many customers are accessing credit for the first time, unlocking opportunities for households and businesses that were previously excluded.
Affinity Africa’s milestone is not just a testament to its product-market fit, but also a signal of shifting consumer expectations in Ghana’s financial sector. As the company continues to innovate and expand, it is poised to play a pivotal role in shaping the future of banking across the continent.