••
Ghana’s financial and business landscape is undergoing a significant transformation, marked by the formal independence of MobileMoney Limited and a concerted effort by leading financial institutions to scale local enterprises through digitalization and specialized funding. MobileMoney (MoMo) Limited has officially separated from MTN Ghana as of March 31, 2026, a move mandated by the Payment Systems and Services Act. This restructuring, which allocates 70% ownership to MTN Dutch Holdings and 30% to the MTN Ghana Fintech Trust, is designed to foster innovation in credit, savings, and investment services. MoMo CEO Shaibu Haruna described the transition as a milestone that aligns with the broader 'Ambition 2025' strategy to enhance the digital finance ecosystem across Africa while maintaining the core MoMo brand services for existing users.
Parallel to this structural shift, there is an urgent call for technological modernization within the fintech space. During the Fintech Partners Exchange Dialogue in Accra, Shaibu Haruna highlighted a significant gap in digital adoption: while 70% of MoMo customers own smartphones, only 1.2% of transactions are currently conducted via apps, with the majority still relying on USSD services. Haruna urged a gradual but steady transition toward app-based platforms to improve user experience and security. This push for modernization is coupled with a warning about evolving fraud tactics, necessitating a collaborative industry-wide response to protect the expanding digital lending and credit access infrastructure.
Support for the private sector is also intensifying through targeted capacity building and specialized financing models. Stanbic Bank Ghana, in partnership with PrymeAds, has launched a digital skills training program through its Business Incubator to equip small and medium-sized enterprises (SMEs) with expertise in digital marketing, content creation, and data analytics. This initiative specifically prioritizes women- and youth-led businesses to ensure long-term sustainability. Simultaneously, Republic Bank (Ghana) PLC has reaffirmed its commitment to scaling local enterprises following the Kwahu Business Forum. Managing Director Dr. Benjamin Dzoboku emphasized that the bank is aligning its five-year strategic plan to provide tailored financial solutions and advisory support, echoing President John Dramani Mahama’s call for an enabling ecosystem that allows local businesses to mature.
Furthermore, financial institutions are adopting innovative funding mechanisms to support capital-intensive industries. Stanbic Bank is championing 'blended finance' for the pharmaceutical sector, combining debt, equity, and development finance partnerships with entities like the IFC. This approach aims to provide 'patient financing' that accounts for the long lead times and high capital requirements of bio-manufacturing. By integrating technology transfer and product diversification, the bank seeks to minimize risks and boost operational efficiency within the sector. Collectively, these developments—ranging from fintech autonomy and SME digitalization to strategic sector funding—signal a maturing economic environment focused on resilience and inclusive growth.
This story touches markets covered on Anansi Intelligence ↗.
Continue exploring similar stories
