MTN MobileMoney Fintech Limited (MMFL) has partnered with the United Nations Capital Development Fund (UNCDF) to expand access to digital savings, microloans and business management support for micro, small and medium-sized enterprises (MSMEs) in Ghana, with a particular focus on women- and youth-led businesses.
The partnership entered its second phase with the signing of a memorandum of understanding (MoU), marking a move from the design and pilot stage to scaling up digital financial services intended to help small businesses strengthen their operations, build capital and grow.
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Shaibu Haruna, Chief Executive Officer of MMFL, said the initiative went beyond facilitating payments to address other financial needs that are important for the long-term growth of small businesses.
For us, the most important thing is that we are focusing on women and areas of real need, not just around payments,” he said.
He said the programme would support services such as digital savings and group loans, which could help entrepreneurs build financial security and accumulate capital for business development.
Things that touch on financial health, such as savings and group loans, are very important in building wealth and building capital for development,” Haruna remarked.
He noted that improved access to financial services created an opportunity for micro-enterprises to move beyond basic transactions and develop into larger businesses capable of creating jobs.
We believe the level of access to financial services has improved in this country, and it is time for enterprises, especially micro-enterprises, to take it to the next level,” he said.
“This is so that we can create big businesses for tomorrow that will create employment in our communities, including some of the underserved communities in this country.”
Haruna said the company hoped the participating businesses would use the services to improve their livelihoods and support their families through increased economic opportunities.
Phase Two moves programme into scale-up stage
Allen Anie, Head of Experimentation and Chief Technical Advisor at the United Nations Development Programme (UNDP), speaking on behalf of the UNDP Country Representative, said the initiative formed part of a broader United Nations effort to improve MSME productivity through digital solutions.
He explained that the partnership was part of the Joint SDG Fund programme, Leveraging Digital Ecosystems for Increased MSME Productivity, implemented by UNCDF, UNDP and other partners under the UN Resident Coordinator’s Office.
The programme connects three areas of support: policy development through Ghana’s National E-Commerce Strategy, digital access through the government-owned MSME Digital Gateway, and improved access to digital financial services for women- and youth-led businesses.
Anie said the goal was to create a more connected system through which small businesses could access information, reach markets, develop their capabilities and obtain financial services.
During the design and pilot phase in 2025, five financial service providers, including MTN MoMo, developed digital financial solutions with technical assistance from UNCDF. The solutions were informed by research involving merchants and agents across four regions of Ghana.
Under the MTN MoMo offering, the services combine digital savings, microloans, financial literacy and business management training to address the needs of MSMEs.
What Phase Two means for small businesses
The second phase is intended to take the solutions developed during the pilot into a wider scale-up, making the services available to more businesses and helping them use digital financial tools to manage and grow their operations.
Rather than focusing only on receiving and making mobile money payments, participating enterprises are expected to benefit from a broader range of financial and business support services.
Digital savings can help entrepreneurs set aside money for future needs, while microloans can provide financing for eligible businesses seeking to invest in stock, equipment or expansion. Financial literacy and business management training are intended to help owners make informed financial decisions and manage their enterprises more effectively.
The programme places particular emphasis on women and young people, who continue to face barriers to affordable financing and business support.
Trade Ministry welcomes initiative
Cynthia Djokoto, Director responsible for MSMEs at the Ministry of Trade, Agribusiness and Industry, welcomed the partnership, saying it could help small businesses access the financial services they need to expand and create jobs.
She said MSMEs played an important role in Ghana’s economic development and employment creation, making it necessary to strengthen the support available to them.
We welcome the partnership between UNCDF and MTN Mobile Money Fintech Limited, with the support of the Joint SDG Fund and other partners, as an important step towards improving access to financial services for MSMEs,” she said.
Djokoto expressed hope that the expansion of digital savings and loan products would benefit more businesses, particularly those led by women and young people, as well as persons with disabilities.
She said access to credit could help enterprises strengthen their operations, expand their businesses and create employment opportunities.
The inclusion of savings solutions and financial literacy training, she added, could also promote responsible financial management and sustainable business growth.
The ministry, she said, would continue working with partners to ensure the initiative contributed meaningfully to the development of Ghana’s MSME sector.
