By: Edward
Adjei Frimpong
MobileMoney Fintech LTD is betting on broader partnerships,
technology upgrades and new digital financial products to accelerate Ghana's
shift toward a cash-lite economy, as mobile money transactions continue to
reshape the country's financial services landscape.
The company, whose mobile money platform serves more than 17
million registered subscribers, said digital payments have become a key driver
of financial inclusion by expanding access to financial services for
individuals, small businesses and underserved communities.
Speaking during a panel discussion at MTN's media and
stakeholder engagement in Sunyani, the MoMo Channel Development Manager for
Northern Ghana, David Nana Addai, said the company's 2026 strategy, themed "Do More with
MoMo," would focus on expanding wallet usage, supporting
micro-enterprises and strengthening the resilience of Ghana's digital finance
ecosystem.
"Mobile money has evolved beyond person-to-person
transfers into a broader platform that supports payments, remittances, savings,
loans, insurance and other financial services," he said.
Launched in 2009, MobileMoney Fintech LTD has grown from
about 17,000 registered users at inception to approximately 17.2 million by
2024. During the same period, industry mobile money transaction values
increased from GH¢2.7 billion in 2013 to about GH¢1.07 trillion in 2024, reflecting
the rapid adoption of digital payments across the economy.
Mr Addai said the company's separation from Scancom PLC had
enabled it to sharpen its focus on fintech innovation while expanding
collaboration with banks, fintech firms, regulators, merchants and value-added
service providers to improve interoperability and broaden access to digital
financial services.
He said future growth would be driven by customer-focused
innovations, including enhanced wallet functionality, open application
programming interfaces (APIs), data-driven financial services and expanded
support for savings, credit, pensions, insurance and e-commerce.
The company is also investing in platform resilience through
system upgrades, real-time transaction monitoring, automated customer support
tools, self-service PIN reset and artificial intelligence-powered service
capabilities to improve customer experience and minimise service disruptions.
As digital transactions increase, MobileMoney Fintech LTD is
strengthening fraud prevention through technology and industry collaboration.
Mr Addai said the company is working with the Cyber Security Authority, the
Bank of Ghana, law enforcement agencies, banks, telecommunications operators
and fintech companies to improve intelligence sharing and coordinate responses
to increasingly sophisticated digital fraud.
He said the company had also developed a strategic framework,
Uniting Against Digital Fraud, and was supporting the establishment of
an industry command centre to facilitate real-time fraud detection and
coordinated responses across the financial ecosystem.
"The future of digital finance is not simply about
moving money electronically," Mr Addai said. "It is about creating
secure, affordable and inclusive financial services that empower individuals,
strengthen businesses and support economic growth."
