Mobile Money Fintech LTD (MMFL), in strategic partnership with Universal Merchant Bank (UMB) and AI-driven trade entity Kola Market, has successfully held the third edition of its Micro, Small, and Medium Enterprises (MSMEs) Capacity Building and Financial Literacy Programme in Accra.
The workshop, hosted at the University of Ghana, targeted members of the Hairdressers and Beauticians wing under the Ghana National Association of Garment Makers (GHABA).
The Accra session marked the climax of a nationwide capacity-building programme aimed at strengthening grassroots enterprises across key commercial centres in the country.
It followed earlier sessions in Kumasi, where members of the Ghana National Tailors and Dressmakers Association received training, and in Takoradi, where market women and small business owners were equipped with practical skills in financial management and digital commerce.
Strengthening the Backbone of Ghana’s Economy
Speaking at the event, Senior Manager for Business Development at Mobile Money Fintech LTD , Mr. Charles Osei Owusu, emphasized that the initiative dubbed the Nkosuo Financial Literacy Capacity Building Programme specifically targets women-led MSMEs, which form the bedrock of the national economy.
“We are here today to run the Nkosuo Financial Literacy Capacity Building Programme, the last of our three modules for this year,” Mr. Osei Owusu noted. “Our primary goal is to empower MSMEs with key operational skills that directly improve business sustainability and profitability.”
He explained that the training focused on four core pillars: customer service experience led by MobileMoney Ltd to enhance client retention, financial literacy and wealth creation conducted by UMB to teach sound cash flow management, digital tools and e-commerce facilitated by Kola Market to introduce digital inventory channels, and access to capital by leveraging the Mobile Money platform to provide streamlined business funding.
Mr. Osei Owusu assured participants that engagement would extend beyond the workshop, with MobileMoney Ltd actively monitoring and engaging beneficiaries to track growth and offer ongoing operational support.
UMB Introduces Solar Loans for MSMEs
The Head of Marketing and Corporate Communications at Universal Merchant Bank (UMB), Edem Knight-Tay, said the bank’s Nkosuo initiative is designed to go beyond conventional banking by helping entrepreneurs strengthen their financial structures and build sustainable businesses.
According to her, many micro, small and medium-sized enterprises (MSMEs) generate significant revenue but require stronger financial management systems to ensure long-term growth and sustainability.
“Most of these business owners are generating revenue, but our objective is to move them toward formal financial structuring, helping them manage bank accounts, build equity and create sustainable legacies,” she explained.
She also disclosed that UMB, in partnership with C-Tech, has introduced a solar financing initiative aimed at helping power-intensive small businesses, including hair salons and beauty shops, reduce their electricity costs.
Under the initiative, eligible business operators can access financing within 48 hours to acquire solar energy systems, potentially reducing their electricity expenses by up to 90 per cent.
“Hairdressers and beauticians rely heavily on continuous power supply,” Knight-Tay said. “When MobileMoney Fintech Ltd approached us for this collaboration, we saw a key opportunity to step in with tailored banking and energy solutions.”
She said the intervention is expected to help MSMEs reduce operating costs while improving business sustainability through access to reliable and more affordable energy.
Nationwide Impact
The capacity-building programme has also reached parts of northern Ghana through a series of forums aimed at equipping MSMEs with practical business, financial and digital skills.
The the initiative will be expanded further in the coming year to reach more entrepreneurs and small businesses across the country, as part of efforts to strengthen MSME growth and promote financial inclusion nationwide.
