Consumer Finance Company (CFC) Ghana was incorporated in 2006 to provide salaried Ghanaians with credit to purchase household appliances and electronic equipment. In August 2010, CFC obtained a non-banking financial institution (NBFI) license from the Bank of Ghana, which enabled it to add cash loans to its hire purchase offering.
The Social Security and National Insurance Trust (SSNIT), Ghana’s premier pension fund, is CFC’s local partner and a shareholder in the company.
A CFC medium term loan offers a larger cash loan that gives you more time to pay back the loan. A short term loan is ideal for smaller amounts, but a medium term loan allows you to repay a bigger amount over 1 to 2 years.
This type of loan can help you to:
Pay school fees
Purchase farming products
Start or grow a business
Furnish your home (computer, oven, etc)
If you need to grow your business or make investments that will benefit your family, then this is the right solution for you.
Credit Life takes care of your loan when you can’t.
When you take out aCFC loan, you take out Credit Life Cover at the same time. If you are retrenched, disabled, pass away or get a dread disease like cancer, the money you still owe on your loan will be paid back to CFC by the insurance company.
You get this cover when you enter into a valid finance agreement with CFC, as long as you are turning older than 19 on your next birthday and have not yet turned 60. You are covered from the moment you sign the policy — even if you have not paid a single premium yet.
Once your policy has started running, you must keep up your payments, otherwise you cannot receive your Credit Life Cover benefits.
Find a CFC Branch near you by clicking on the highlighted letters below.
Reach for Change is an initiative of Kinnevik, Bayport’s Swedish partner. It supports social entrepreneurs who help children and youth to a better life.
It is international non-governmental organisation that contributes funds, business expertise, media exposure and marketing and recently expanded the initiative to Ghana. Both Bayport Ghana and Consumer Finance Company (CFC) in Ghana are contributing partners, with senior staff from CFC serving as advisors to the selected social entrepreneurs.