Africa Financial Service starts operations in Ghana

Africa Financial Services (AFS), a non banking financial institution, has commenced operations in Ghana, to provide short term and fast loans to clients to develop their businesses and meet their personal needs.

AFS, which started operations in the country since August has its headquarters in Mauritius and is funded through a London based company.

Mr Claude Scholtz, Founder and Chief Executive of AFS, told the Ghana News Agency in Accra that the decision to establish a branch in Ghana was due to the fact that, the country is an ideal place for investments.

Mr Scholtz, former Chief Operating Officer and one of the founders of Bayport Financial Services (Ghanafin), said AFS made an extensive study for business throughout Africa and came to the conclusion that Ghana is still the perfect place to launch the service due to the prevailing political and economical stability.

He said many economists are of the view that the national currency- the cedi will appreciate in the next few years, making it an opportune time for dollar investments in Ghana.

Mr Scholtz’s said: “The potential appreciation of the cedi makes it very attractive for a company such as ours to invest in Ghana and almost take out the currency risk.”

He observed that the market in Ghana needs a company such as AFS since it has “proven that the development of any country’s economy is in the hands of the small and medium scale entrepreneurs”.

Mr Scholtz said entrepreneurs in Ghana need access to capital, which is their number one priority.

He said there are almost one million Ghanaians employed in the formal sector, most of whom have their spouses and other family members working in the informal sector.

“AFS understands these clients well and want to provide these customers with access to credit and the service they deserve.

“AFS provides loans to individuals to support them during emergencies, to allow the development of family entrepreneurial activities, support children in education and to purchase life-enhancing assets.

“African Financial Services also plan to participate and play a leading role in the burgeoning of secondary banking systems such as cell-phone banking, funeral-insurance plans and credit-bureau systems.”

The founders of AFS contributed many years of experience gained across Africa, in the delivery of credit for the benefit of African working people and have long-standing relationships with clients, communities and other partners across the continent.

Source: GNA