Ghanaian digital bank Affinity Africa has unveiled Affinity Boost, a high-yield, goal-oriented savings product designed to help individuals and small businesses grow their money while pursuing specific financial targets.
“This product was built in response to real feedback from our customers, many of whom wanted the option to add more money into their yield-generating accounts when they had extra cash,” said Abdul-Jaleel Hussein, CEO of Affinity Ghana.
The launch comes shortly after the startup’s oversubscribed US $8 million seed round earlier this year, underscoring the surging demand for flexible, technology-driven banking solutions across West Africa.
What Is Affinity Boost?
Affinity Boost is a digital savings account built for people who want to save with a clear purpose and earn attractive returns along the way.
Instead of simply setting aside cash in a standard low-interest account, customers choose a concrete target, such as buying a motorcycle for deliveries, opening a small shop, paying school fees, or taking a long-planned holiday. They then decide how long they wish to save and watch their deposits grow at a competitive annual interest rate.
Boost complements Affinity’s existing range of products, Affinity Daily, Growth, and Future, each of which caters to different financial timelines and appetite for risk.
By integrating Boost, the company aims to serve everyone from first-time savers to experienced micro-entrepreneurs seeking more structured financial planning.
How Does Affinity Boost Work?
The product allows users to open a goal-based account entirely through Affinity’s mobile app or web platform without visiting a branch. After setting a target amount and tenor (the savings period), customers can deposit an initial sum and top up as they go.
They may schedule automatic daily, weekly, or monthly transfers or make one-off contributions whenever they have extra income, whether from side jobs, seasonal harvests, or remittances.
This flexibility means that if a small business lands an unexpected order or a family member sends money from abroad, those funds can immediately be added to the goal to generate higher returns.
Affinity applies market-competitive rates that scale with the tenor, giving savers the incentive to commit for longer periods.
The entire process, from opening the account to tracking progress, is paperless and fully regulated by the Bank of Ghana, making it accessible to anyone with a smartphone and mobile-money wallet.
Affinity’s Funding and Growth
Founded in 2022 by entrepreneur Tarek Mouganie and publicly launched in 2023, Affinity Africa is one of Ghana’s fastest-growing branchless banks. It already offers personal and SME accounts, payments, instant transfers to banks and mobile wallets, investment options, and micro-loans.
In early 2025 the company raised US $8 million in an oversubscribed seed round, one of the largest fintech seed raises in Ghana to date, drawing investors from Africa, Europe, and North America.
Affinity reports tens of thousands of active accounts and steadily rising monthly transaction volumes, a reflection of the broader boom in Ghana’s fintech sector, where mobile-money transactions exceeded GHS 1.9 trillion (about US $150 billion) in 2024, according to the Bank of Ghana.
The fresh capital is earmarked for product development, talent expansion, and entry into other high-growth African markets.
Catalyst for Economic Development
Affinity Boost arrives at a time when Ghana is striving to widen financial inclusion. The World Bank estimates that 43 percent of Ghanaian adults remain unbanked, relying on cash-based systems that limit their ability to save securely or access credit.
Economists argue that digital products like Boost can help bridge that gap by encouraging disciplined savings and offering higher yields than traditional bank accounts.
“When small businesses can save and reinvest at attractive rates, local economies benefit through job creation and improved livelihoods,” said an expert economist.
By making structured saving both simple and rewarding, Affinity Boost could channel dormant cash into productive investment, strengthening household resilience and stimulating micro-enterprise growth.
Customer-Driven Innovation
Affinity executives stress that Boost was built around user feedback rather than top-down planning.
“Our clients wanted a way to grow their money faster without rigid restrictions,” Hussein explained.
Many early users of Affinity’s existing savings products asked for the ability to add extra cash mid-cycle, especially when they received irregular income or windfalls. The top-up and automated-transfer functions are direct responses to those requests.
This collaborative approach reflects a broader trend in African fintech, where agile startups tailor products to the day-to-day realities of informal workers, farmers, and small traders whose earnings fluctuate.
Why It Matters
Africa is the world’s fastest-growing mobile-money market. According to GSMA’s 2024 report, the continent surpassed 500 million active mobile-money users, with Ghana ranking among the top five countries by penetration.
Yet many of those users still lack access to high-yield savings instruments. Affinity Boost taps this enormous potential by combining user-friendly digital access with interest rates that can significantly outpace those of conventional bank savings.
For Ghana’s gig workers, market traders, and small manufacturers, the product represents more than convenience, it is a pathway to building capital and weathering financial shocks.
If adoption scales as Affinity projects, Boost could become a model for inclusive, tech-driven banking across West Africa, turning everyday income into long-term wealth one goal at a time.
Talking Point
Affinity Africa’s rollout of Affinity Boost is a textbook example of creativity rooted in real market insight. By blending goal-based savings with flexible top-up features and competitive interest rates, the startup shows it truly understands both the irregular income patterns of many African households and the aspirations of small businesses eager to grow.
This is not just a clever product; it’s a strategic win-win. For customers, it transforms everyday earnings into structured wealth-building, offering autonomy and higher yields without the bureaucracy of traditional banks. For Affinity, it deepens customer loyalty and expands its revenue base, positioning the company as a serious contender in West Africa’s fast-growing fintech space.
On a broader scale, the innovation strengthens the African digital-finance ecosystem by nudging more people into formal, interest-earning financial activity, stimulating savings, fueling micro-enterprise investment, and drawing global investor confidence.
In essence, Affinity Boost is a double-edged benefit: it captures untapped market demand while catalyzing inclusive financial growth, a synergy that could reshape how Africans save, plan, and prosper.
