AFB invests $20m in Ghana

market1Mr Ed Humphries, Country Manager of AFB Ghana, a consumer finance company, has noted that the institution is committed to scale up its investment in the country.

Speaking on the sidelines at the official launch of the AFB’s new Rewards Gold Card in Accra, Mr Humphries said AFB had invested more than $20 million in the economy and is looking forward to adding more to meet the needs of the increasing number of clients.

Described as the fastest growing micro finance company in Africa, AFB, holders of the Rewards Gold Card is entitled to 10 per cent discount on all goods and services at Melcom shopping malls across the country.

With more than 50,000 customers and an investment of $20 million in Ghana, the launch of the rewards Gold Card is to deepen AFB’s presence in the local market.

The Card will provide clients free life insurance cover of GH¢2,000 in the tragic event of death and discount purchases at Melcom stores.

AFB’s Group Chief Executive Officer, Karl Westvig said the company offers services to personnel of Ghana Armed Forces, Ghana Police Service and government employees through the Controller and Accountant General’s Department.

“Our aim is to partner … Ghanaians to help drive a better and brighter future for all,” he said.

AFB currently employs 135 people and has a network of 23 branches across the regions, he said.

Mr Westvig said the Rewards Gold Card holders would automatically be eligible to future innovative packages such as credit facilities, retail loyalty cards, special mobile phone services and other amazing products.

On AFB’s growth strategy, Westvig said AFB would in the short term drive a technology led customer service revolution to better reach to serve Ghanaians.

“In the long term we want to be an agent for change in the industry and truly empower customers to make the right choices.”

Formerly known as the African Financial Services, AFB Ghana entered the Ghanaian market in 2010 with more than 50,000 customers.

Mr Westvig said rebranding to AFB Ghana is to create a stronger association with the AFB group, which is the fastest growing consumer finance company in Africa with a market capitalisation of more than $66 million.

AFB is responsible for credit products within Africa.

Established in Ghana in 2010, AFB is a high growth business with three care business divisions: cards, loans and insurance.

The company employs more than 1,000 people, servicing more than 60,000 customers with plans to begin operations in Zambia in the fourth quarter of 2013.

Source: GNA

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