Developed on the back of extensive research with Ghanaian small and medium-sized enterprises (SMEs), Affinity Africa has rolled out Affinity for Business, a digital banking platform designed to help SMEs manage their finances, payments, and operations on a single platform.

The launch builds on the company’s existing digital banking services for individuals. Since launching, Affinity has provided digital financial services such as payment, savings, investments and loans to over 100,000 customers.

According to the company, many of its individual customers also run businesses and requested similar financial tools for their companies. In response, Affinity spent a year studying Ghanaian SMEs to better understand how they operate, the financial challenges they face and what tools they need to grow. The findings from that process informed the development of Affinity for Business.

Registered businesses can open an account through a fully digital onboarding process and receive approval within 24 hours once the required documents are submitted. These include a business registration certificate and national identification for directors and authorised signatories. The process does not require a visit to a bank branch.

After onboarding, businesses can manage payments, transfers and financial operations from a single platform. Companies can receive payments from customers in store or online through payment links, point of sale tools and invoices. Customers can complete payments using the Affinity app, mobile money wallets or bank transfers.

Businesses can also transfer money to any mobile money wallet or bank account. The platform also supports bulk transfers which allows businesses to handle multiple payments such as salaries or supplier settlements.

Users can also access working capital and growth capital loans designed to help businesses manage cash flow and support expansion.

Through product, the company aims to provide businesses with accessible banking tools that support everyday operations and long term growth.