MobileMoney Fintech Ltd(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.
The partnership seeks to improve access to digital financial solutions, including savings and micro-loans, while equipping entrepreneurs with financial literacy and business management skills to support sustainable growth.
MobileMoney Fintech Ltd Reaffirms Commitment to Financial Inclusion
Speaking at the signing ceremony, the Chief Executive Officer of MobileMoney Fintech Ltd, Mr Shaibu Haruna, expressed appreciation to UNCDF for the opportunity to collaborate with partner organisations and fintech providers to deepen support for micro-enterprises in Ghana.
He said the partnership aligns strongly with the company’s core mandate of promoting financial inclusion, improving financial health and expanding access to financial services that enable individuals, businesses and communities to thrive.
“This is in line with deepening our role in enhancing micro-enterprises in Ghana, and this is something which is very passionate for us at MobileMoney Fintech Limited. At the core of what we do is providing financial inclusion and also deepening the financial health of individuals as well as communities,” he said.
Mr Haruna emphasised that a major priority of the initiative is to reach underserved women and communities with limited access to essential financial services, particularly solutions that extend beyond basic payment transactions.
“Most importantly for us is the fact that we are focusing on underserved women as well as areas of real need, and focusing not just around payments, but most importantly on things that touch elements of financial health, such as savings, loans, as well as group loans, which are very important in building wealth and building capital for development,” he explained.
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 the right time. We believe the level of access to financial services has improved significantly in this country, and it is time for enterprise, 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.
Mr Haruna stressed that the success of the partnership would ultimately be measured by its impact on the livelihoods of entrepreneurs, their families and the wider communities in which they operate.
Our joy and pleasure will be to see these micro-enterprises pick up these services and expand the well-being of not just themselves as individuals, but their families who benefit from what they do. And the ripple effect touches access to education, access to health and the general well-being of our communities.
MobileMoney Fintech Ltd Focuses on Simplifying Digital Savings and Loans
The Chief Product and Services Officer at MobileMoney Fintech Ltd, Ms 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 noted that the company had been working to simplify the journey towards digital adoption.
According to her, the new offering is designed to be simple and accessible, with flexible options to encourage consistent saving and responsible borrowing, alongside education to help entrepreneurs integrate digital tools into their daily business operations.
UNCDF and UNDP Target 18,000 Businesses by 2027
Speaking on behalf of the UNDP Resident Representative in Ghana, Mr Niloy Banerjee, Dr Allen Anie, Head of Innovative Finance and Inclusive Growth, 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 brings together three connected 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, they can reach markets, they can build their capabilities, and also access financial services through more connected and accessible systems,” he said.
Dr Anie disclosed that during the design and pilot phase in 2025, five financial service providers, including MTN MoMo, developed digital financial solutions informed by research with merchants and agents across four regions of Ghana, with technical assistance from UNCDF.
He said the agreement being signed would support the scale-up of MobileMoney Fintech Ltd’s savings and loan offering, enabling MSMEs to save through their mobile phones, access digital micro-loans where eligible, and strengthen their financial management skills.
By June 2027, the partnership aims to reach 18,000 women- and youth-led MSMEs with digital and financial services, with at least 10,800 benefiting from savings and loan products and approximately GH¢11.7 million in capital catalysed.
Ministry of Trade Welcomes Initiative
The Director of Small and Medium Enterprises at the Ministry of Trade, Agribusiness and Industry, Mrs Cynthia Djokoto, said the Ministry remained committed to supporting the growth of MSMEs in Ghana, recognising their vital role in job creation and economic development.
She welcomed the partnership between UNCDF and MobileMoney Fintech Ltd, with the support of the Joint SDG Fund and other partners, as an important step towards improving access to financial services for MSMEs.
“We particularly hope that the scale-up of this digital savings and loan product will enable more businesses, especially women, youth and persons with disabilities in the enterprise ecosystem, to access credit, strengthen their operations, expand their businesses and create employment opportunities,” she said.
Mrs Djokoto added that the inclusion of savings solutions and financial literacy training would further support responsible financial management and sustainable business growth.
Source: Isaac Kofi Dzokpo
