Everything you need to know about Boafo Capital loans, eligibility, and our services. Can't find what you're looking for? Contact us directly.
Boafo Capital is a Hybrid Neo-Lender serving Africa's informal economy. We combine Fintech speed with Community Banking trust to provide capital, inventory, and assets to market women, MoMo agents, and small businesses. Our products include SME Working Capital (GH₵500-5,000), MoMo Agent Booster (1% weekly fee), Work & Pay asset financing (freezers, vehicles), and Boafo Stock inventory financing (rice, oil, tomatoes).
Eligibility varies by product. Generally, you need to be a Ghanaian resident aged 18+, have an active business or income source for at least 6 months, possess a valid Ghana Card, and have a registered mobile money account. Market traders, shop owners, MoMo agents, and micro-entrepreneurs are all welcome. Premium products like Work & Pay require Gold tier status (Boafo Score above 80).
Loan amounts follow our 'Ladder of Trust' model. New borrowers (Starter tier) can access GH₵500-2,000 for SME Working Capital. As you build your Boafo Score to Gold tier (80+), you unlock up to GH₵5,000 at better rates, plus access to Work & Pay asset financing. MoMo Float and Boafo Stock have separate limits based on your business needs.
The Boafo Score (0-100) is our proprietary credit scoring system that evaluates three core metrics: Punctuality (40%) - early repayment boosts your score; Velocity (30%) - your loan completion rate and business activity; Identity (30%) - GPS verification and guarantor standing. Score above 80 unlocks Gold tier benefits including 3% interest rates (vs 5% for Starter) and access to Work & Pay.
Once approved, funds are disbursed within 24 hours directly to your mobile money account. Returning Gold tier customers may receive same-day disbursement. The entire application process—from submission to disbursement—typically takes 2-3 business days for new customers, faster for repeat borrowers with strong payment history.
Rates depend on your tier: Starter tier pays 5% for 7-day SME loans, Gold tier pays just 3% with up to 30-day terms. MoMo Agent Booster is 1% weekly. Work & Pay (Gold tier only) charges Cost + 40% over 3-6 months. Boafo Stock has zero interest—you pay for goods at cost and repay within 7 days as you sell.
Most Boafo Capital loans are unsecured and rely on our Boafo Score system, GPS verification, and guarantor references. Work & Pay loans use the financed asset as security until full repayment. We also require a guarantor whose social standing in the community serves as a powerful accountability mechanism in Ashanti culture.
Gold tier borrowers (Score 80+) receive one 'Grace Token' per year for documented emergencies like illness, fire, or funeral. When activated, we freeze interest for 14 days with no penalties or seizure. This builds loyalty by respecting your dignity during genuine hardship. Contact your loan officer immediately if you face an emergency.
Submit an inquiry through our website's contact form, call our hotline, or visit our Kumasi office. Our Territory Managers will verify your business (GPS location, stock checks) and guide you through documentation. Repeat customers can request top-ups directly. We operate through MoMo Franchise Agents who act as 'Human ATMs' for disbursements and repayments.
We welcome three types of partners: Debt Investors (20%+ target IRR), Financial Institutions (API integration, co-lending), and Regional Franchise Agents (earn GH₵10 credit per verified loan). Visit boafocapital.com/partners to learn more. Accredited investors can access our Data Room with pitch deck, financials, and portfolio reports.
Our team is ready to help you find the right financing solution for your business.