ABSA Ghana Partners with NASPA to Offer Advance Allowance Payment to Active National Service Personnel
ABSA Ghana and the National Service Personnel Association (NASPA) have entered into a partnership to introduce an overdraft facility for all active National Service Personnel (NSPs).
Under the agreement, the financial institution will provide qualifying NSPs with an overdraft facility of up to 85% of their monthly NSA allowance.
This advance will ensure personnel can access funds for essential needs seamlessly.
Key features of the facility include zero interest for the duration of the delay, no collateral requirements for NSPs, and automatic repayment once the NSA releases the delayed allowance.
A statement by the National Service Authority said the facility is available to all active NSPs with an Absa Ignition Account.
“The Absa Ignition Account is a free, youth-focused account with zero maintenance fees, a free international debit card for online transactions, and up to GHS 100,000 travel insurance cover.”
Interested persons are directed to open an Absa Ignition Account through their NSA student online submission portal for seamless onboarding.
Director General of the National Service Authority, Madam Ruth Dela Seddoh, said, “We hear the frustration of our service personnel, and we are taking concrete action. Delays in the release of funds have, at times, placed hardship on young graduates serving their nation.
“This NSA partnership with Absa Bank, facilitated by the National Service Personnel Association, which played a pivotal role in brokering the collaboration and represented the collective concerns of personnel across all regions, will ensure that no NSP will be left stranded due to timing mismatches between their service and their allowance.”
Edward Nartey Botchway, Managing Director of Absa Bank Ghana LTD, said, “At Absa, we understand how allowance delays can put real pressure on young graduates, especially when they are trying to cover basics such as rent and transport.
“This collaboration with the National Service Authority and the National Service Personnel Association aims to bridge that gap and ensure that a delay in disbursement does not become a crisis for our national service personnel.”
Story by Hajara Fuseini
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