Author: Nicholas Akusah
Forms Capital, in partnership with Mobile Money Limited, MTN and XtraFMS Ghana limited, has officially launched two innovative products, Xtra Balance and Xtra Cash, designed to bridge the financial inclusion gap in Ghana.
Speaking at the launch event held at the Kempinski Hotel in Accra, Mr. Jonathan Atuah, CEO of Forms Capital, emphasized the company’s mission to empower Ghanaians through accessible financial services.
“When access to finance is extended to the right people at the right time, it doesn’t just meet short-term needs. It changes the trajectories. It strengthens the households and reduces reliance on high-cost informal lending. It creates options that nonexistent. And that ultimately is how we play our part in reducing poverty, market economic mobility.” He said.
The launch event highlighted the significance of collaboration in driving financial inclusion. Mr. Ernest Obuobisa-Darko, Board Member of Forms Capital, noted that the partnership between Forms Capital, Mobile Money Limited, and XtraFMS is a testament to the power of collective effort in creating innovative solutions.
“Forms Capital was established with a simple but powerful mission to break the gap between innovation and inclusion. We believe that access to financial services should not be a privilege.
It should be a tool of empowerment, available to every Ghanaian, whether you’re working in a formal office or in the open market,” Mr. Obuobisa-Darko said.
Xtra Cash and Xtra Balance are built on advanced data analysis and predictive models, enabling efficient credit positioning and financial empowerment.
Mr. Tetteh Akornor, Head of Commercial at XtraFMS, explained that these products leverage AI-led platforms to process and analyze consumer data, resulting in quicker loan disbursements and lower operational expenses.
“With our AI-led platform, we process and analyze consumer and individual data, enabling efficient credit positioning and empowering financial empowerment. We deliver very low default rates,” Mr. Akornor said.
Mr. Yaw Saifah, manager Banktech at Mobile money limited reaffirmed the decision of the initiative, indicating its convenience and efficiency across country.
The Xtra Cash and Xtra Balance has over the years benefited over 4milions Ghanaian businesses and individuals.
