Shaibu Haruna and Niloy
MobileMoney Fintech Limited (MMFL) and the United Nations Capital Development Fund (UNCDF) have signed a Memorandum of Understanding (MoU) to expand access to digital financial services for micro, small and medium-sized enterprises (MSMEs) in Ghana, with a focus on women- and youth-led businesses.
The agreement forms part of the Joint SDG Fund programme on Leveraging Digital Ecosystems for Increased MSME Productivity, implemented by UNCDF, the United Nations Development Programme (UNDP) and the United Nations Conference on Trade and Development (UNCTAD), under the UN Resident Coordinator’s Office.
Speaking at the signing ceremony, the Chief Executive Officer of MobileMoney Fintech Limited, Shaibu Haruna, said the partnership sought to improve access to digital financial solutions, including savings and microloans, while equipping entrepreneurs with financial literacy and business management skills to support sustainable growth.
“This is in line with deepening our role in enhancing micro-enterprises in Ghana, and this is something we are very passionate about at MobileMoney Fintech Limited. At the core of what we do is providing financial inclusion and deepening the financial health of individuals as well as communities,” he said.
According to him, the intervention comes at a critical time for Ghana, following significant improvements in access to financial services.
“The focus for us could not have come at a better time. Access to financial services has improved significantly in this country, and it is time for enterprises, especially micro-enterprises, to take it to the next level so that we can create big businesses for tomorrow that will create employment in our communities and in some of the underserved communities,” he added.
The Chief Product and Services Officer of MobileMoney Fintech Limited, Sylvia Otuo-Acheampong, said the company had focused on making it easier for small businesses to access financial services beyond basic payments.
She acknowledged that many micro-traders were accustomed to cash and face-to-face transactions, making the transition to digital savings and loans challenging. She said the company had been working to simplify the process of adopting digital financial services.
Speaking on behalf of the UNDP Resident Representative in Ghana, Niloy Banerjee, the Head of Innovative Finance and Inclusive Growth, Dr. Allen Anie, said many MSMEs, particularly women- and youth-led businesses, continued to face barriers to affordable finance, savings and business management support.
He explained that the partnership brought together three interconnected areas of support: a policy framework through Ghana’s first National E-Commerce Strategy; a digital platform through the government-owned MSME Digital Gateway; and improved access to digital financial services for women- and youth-led businesses.
“By connecting policy, digital access and finance, we are working towards an ecosystem where MSMEs can find information, reach markets, build their capabilities, and also access financial services through more connected and accessible systems,” he said.
By Prince Fiifi Yorke