This funding is designed to support the acceleration of financial resilience across Africa by expanding Affinity’s financial education initiatives and increasing access to fair, digital financial services for underserved communities.
Affinity Africa, Ghana’s leading digital banking platform, has joined forces, for the second time, with the Cisco Foundation and FINCA Ventures through a program aimed at advancing financial resilience across Africa. This funding is designed to support the acceleration of financial resilience across Africa by expanding Affinity’s financial education initiatives and increasing access to fair, digital financial services for underserved communities.
The collaboration focuses on empowering women, informal workers, and those previously excluded from the formal financial system. By leveraging targeted funding and technical assistance, the program enables social enterprises like Affinity to scale sustainable, community-focused solutions that bridge critical gaps in finance and technology.
Affinity is one of Ghana’s fastest-growing digital banking platforms, now serving more than 125,000 customers nationwide — 65% of whom were previously unbanked and 60% are women. After pioneering Ghana’s first fully digital onboarding (eKYC) and developing proprietary underwriting technology, Affinity is enabling fair, data-driven lending for informal workers who have long been excluded from the formal financial system, while deepening financial literacy and inclusion across the country.
The grant will support Affinity’s capacity to scale its impact, providing more individuals and small businesses with the tools to build credit and plan for their financial future. This initiative reinforces a shared commitment to sustainable growth and the expansion of formal banking to those in the informal sector.
“The Cisco Foundation is dedicated to investing in social enterprises that drive tangible progress and close critical gaps in opportunity. Affinity Africa’s success in reaching the unbanked—particularly women and informal workers—demonstrates the transformative power of inclusive technology. We are proud to support their mission to deepen financial literacy and build a more equitable financial ecosystem in Ghana.”
– Charu Adesnik, Executive Director, Cisco Foundation
“This recognition represents a strong vote of confidence in Affinity’s model and impact to date, and in our role in reshaping how financial services reach those historically excluded. With the support of the Cisco Foundation and FINCA Ventures, we’ll continue strengthening our impact in Ghana, expanding access to fair, transparent, and digitally enabled financial solutions for all.”
– Tarek Mouganie, Founder and Group CEO, Affinity Africa
Since its launch, Affinity has raised a total of US$13 million in funding to bridge the financial services gap in Sub-Saharan Africa. Its branchless, low-cost model offers 24/7 banking services, including savings, payments, and loans, specifically tailored to users with varying levels of digital literacy.
