afb Ghana celebrates 1 million Qwikloan Customers

Dignitaries at the event

commences rebranding to Letshego

afb Ghana has recognised and celebrated the company’s one-millionth QWIKLOAN customer at the Labadi Beach Hotel, less than a year after disbursing their first mobile money QWIKLOAN, in partnership with MTN Ghana.

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

Mr. Arnold Parker, said, “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.”

QWIKLOAN is an easy access, short term, small scale loan, available via MTN Ghana’s mobile money platform. QWIKLOAN 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.

MTN MoMo

Eli Hini, General Manager, MobileMoney Limited added, “The best thing about the QWIKLOAN offering is that it is fast, simple and convenient, enabling customers to receive and repay their loans in seconds, all through MTN MoMo.”  

Since launching in November last year, the innovative partnership has issued more than 5 million QWIKLOANs, valued at over GHS600 million. QWIKLOAN is the first of its kind in the Ghanaian market, and comprises a 30-day micro or small loan ranging from GHS25 to GHS1000, depending on how customers manage their loans and repayments.

Letshego’s Group CEO, Smit Crouse, acknowledged afb Ghana’s progress since the subsidiary was acquired by the Letshego Group in January 2017.

Crouse reiterated his support as afb commences with its plans to rebrand to Letshego’s blue and yellow over the next 6-month period, leveraging Letshego’s established reputation and 20-year heritage on the continent.

Crouse added, “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.