The new product provides users with a functional digital bank account, which can receive and send money instantly, set up standing orders and direct debits, and perform other bank transactions.

The Account, the first in Africa, will enable the Ghanaian user to receive and send money internationally to other African countries, Asia, America and other parts of the globe.

The digital banking service offers multi-currency account in pounds, dollars, and euros and allows Ghanaians, who are non-UK residents to own a bank account in the UK.

Dr Stephen Amoah, Deputy Minister for Trade and Industry, commended Tranzfar for conceptualising and bringing to fruition the Freedom Bank Account.

He emphasised that the product would boost the Ghanaian economy as it would promote entrepreneurship, and enhance trade and industry.

“In an era where global connectivity and financial inclusivity are paramount, the introduction of this innovative digital banking platform aligns perfectly with our nation’s aspiration for growth and development,” Dr Amoah said.

He said it would also deepen the existing relationship between Ghana and the United Kingdom.

He assured Tranzfar of the support of the Ministry and the government to ensure that the product operated efficiently, effectively, and sustainably.

Mr Ryan Romeo, Co-Founder and Chief Executive Officer, Tranzfar, said the Freedom Bank Account was targeted at everyone, including those in the educational market – people schooling abroad and those, who desired to have access to global currency when abroad.

Others are small businesses that want to grow global customer base, online businesses, consultancy businesses that offer services from Ghana and want to receive money from global customers, who pay in pounds, dollars and euros.

It is also available to those, who live in Ghana, but want to save money in foreign currency.

Dr Olusiji Sanya, Co-Founder and Chief Financial Officer, Tranzfar, said the concept was based on the Company’s belief that every human being deserved to freely access global banking services.

“It does not matter where you are based, where you live or where you come from, we believe that having access to global banking infrastructure is a fundamental human right,” he said.

The Freedom Bank Account is accessible through mobile application that can be downloaded from Android or iOS. It can also be accessed on the website.