By: Nana Appiah Acquaye
Ghana’s next phase of financial inclusion must move beyond sending
and receiving money to help more people save, invest, access credit, obtain
insurance and build stronger financial futures, according to Abdul-Razak Issaka
Ali, Chief Commercial Operations Officer of MobileMoney Fintech LTD.
Speaking at the launch of MTN Ghana’s 2026 DigiFest at MTN House in
Accra on September 7, 2026, Razak said the next frontier of digital finance is
to translate widespread access into everyday financial value and improved
financial health.
“MoMo was created to meet a customer need: to make it easier to
move money and extend financial inclusion to every Ghanaian. The opportunity
now is to help customers do much more with that access,” he said.
He noted that many customers still use their wallets mainly for
transfers and storing funds, leaving significant scope to deepen access to
savings, credit, investments, insurance, pensions and other services.
“Financial inclusion should not end with being able to make a
transaction. It should open the door to products that help people manage risk,
plan for the future and pursue new opportunities,” Razak said.
He stressed that achieving this ambition would require sustained
collaboration among mobile money operators, banks, insurers, pension providers,
fintechs, regulators and other ecosystem partners.
“A cash-lite economy cannot be delivered by MoMo alone. It must be
built in partnership with the institutions and innovators that together serve
the financial needs of Ghanaians,” he said.
Razak said MMFL’s platform approach enables partners to make a
broader range of financial products available to customers, while the MoMo App
offers a convenient channel through which users can discover, access and manage
multiple financial and lifestyle services in one place.
He added that technologies such as artificial intelligence and
application programming interfaces (APIs) can help institutions personalise
services, connect products more efficiently, respond faster to customer needs
and strengthen fraud detection and prevention.
As part of its commitment to homegrown innovation, MMFL is also
implementing the MoMo FinTech Lab, an innovation and development programme that
identifies and supports promising fintech ideas with the potential to shape the
future of financial services in Ghana.
The programme provides selected participants with mentorship,
skills development, technical support, stakeholder engagement, networking and
pitching opportunities to help them develop practical solutions and connect
strong ideas to the wider financial-services ecosystem.
Razak said innovation must ultimately deliver measurable benefits
for customers by making financial services more useful, secure and accessible.
“The goal is not technology for its own sake. It is to use technology and
partnerships to solve real customer needs, expand opportunity and help more
Ghanaians build healthier financial lives,” he said.
