Afb celebrates one-millionth QWIKLOAN customer milestone

Afb celebrates one-millionth QWIKLOAN customer milestone
Source: Ghana | Charles Ayitey | JoyBusiness
Date: 18-10-2018 Time: 12:10:12:pm

Financial house, AFB Ghana recognised and celebrated their one-millionth QWIKLOAN customer in Accra, less than a year after disbursing their first mobile money QWIKLOAN, in partnership with MTN Ghana.

Letshego Group CEO, Smit Crouse, flew in to attend the customer celebration, acknowledging afb Ghana’s progress since the subsidiary was acquired by the Letshego Group in January 2017. 

Crouse also seized the opportunity to reiterate his support as Afb commences with its plans to rebrand to Letshego blue and yellow over the next 6-month period, leveraging Letshego established reputation and 20 year heritage on the continent.  

“Afb Ghana is Letshego’s most recent acquisition within the Letshego footprint, and is already contributing positive value and profits to the Group.

QWIKLOAN is just one of the many solutions Afb offers in Ghana, and stands to provide a valuable source of best practice for our other markets given its success and innovative delivery.  I would like to thank our customers for supporting afb Ghana, and invite them to continue with us on this exciting growth journey as we rebrand to Letshego,” he said.

Country CEO for Afb Ghana, Arnold Parker, thanked Joseph Torgbor, Afb Ghana’s millionth QWIKLOAN customer, and presented Joseph with GHC 1000 cash, and GHS1, 000 MTN mobile airtime, along with other branded gifts.

“Ghana was the first market in Letshego’s footprint to pilot and launch QWIKLOAN - the fact that we are standing here today, celebrating our millionth QWIKLOAN customer less than a year after launch, is testament to a successful solution and partnership that fits the needs of our people,” he told JoyBusiness.

QWIKLOAN is an easy access, short term, small scale loan, available via MTN Ghana mobile money platform. It supports Afb’s commitment to increasing financial inclusion by enabling customers to develop their own credit profile in managing their QWIKLOANs responsibly. 

Customers who demonstrate responsible loan repayments, unlock access to more capital, ultimately enabling Ghanaians to fund more productive and sustainable ventures.

Since launching in November last year, the innovative partnership has issued more than

5 million QWIKLOANs, valued at over GH₵600million. QWIKLOAN is the first of its kind in the Ghanaian market, and comprises a 30-day micro or small loan ranging from GH₵25 to GHS1000, depending on how customers manage their loans and repayments.  

Afb Ghana is licensed by the Central Bank of Ghana as a Non-Bank Financial Institution. It is a subsidiary of Letshego Holdings Limited (LHL), the inclusive finance focused Group headquartered in Gaborone, Botswana and listed on the Botswana Stock Exchange in 2002.

Since its launch in 2010, afb Ghana has grown to service over 1,000,000 customers through a countrywide network of more than 23 customer access points through an end-to-end automated service delivery model.

The company’s strategy is to deliver responsible lending services by leveraging technology to drive access, simplicity and customer satisfaction.  

Afb Ghana offers innovative consumer finance solutions to employees of the Ghana Government, parastatals and reputable private organisations. It is committed to responsible lending and our simple and appropriate solutions include consumer loans, direct loans, SmartCash and QWIKLOAN to informal or market traders.

About Letshego Group (Letshego Holdings Ltd)

The Letshego Group is a proudly African multinational organisation, headquartered and listed in Botswana and focused on delivering inclusive finance solutions to communities across 11 Sub Saharan Markets.  

With a staff complement of over 3,000 – including both direct and indirect sales agents - and more than 1.5 million customers, Letshego is synonymous with leveraging innovation and technology to improve the lives of individuals and increase access to simple and appropriate financial services.  

In 2018 Letshego celebrates 20 years of supporting regional communities, making strong progress towards the Group’s ambition to be Africa’s leading inclusive finance organisation.