Small and Medium-sized Enterprises (SMEs), regarded as the backbone of Ghana’s economy, are increasingly leveraging mobile money and digital payment solutions to improve operational efficiency, strengthen financial management and expand access to credit, MobileMoney Fintech LTD (MMFL) has said.
Mr. Abdul Razak Issaka-Ali, Chief Commercial Officer of MMFL, said digital financial services had evolved beyond facilitating money transfers to becoming essential business tools that enable entrepreneurs to manage their businesses more effectively.
Mr. Issaka-Ali said many SMEs continued to face challenges associated with cash handling, theft and poor visibility over daily business transactions.
He said digital payment solutions were helping businesses reduce those risks while improving accountability and operational efficiency.
“At the heart of this evolution is MMFL’s commitment to transforming the way people do business for the better. It is not just about digitising payments; it is about creating real impact for businesses,” he said.
Mr. Issaka-Ali explained that the company’s merchant payment solutions enabled business owners to monitor transactions in real time, providing greater control over revenue and cash flow.
He noted that some mobile money solutions also allowed shop attendants to receive customer payments without having direct access to business funds, reducing opportunities for internal leakages and enhancing financial controls.
“We have tailored our solutions to meet the needs of SMEs. Business owners can track every payment made into their accounts, making it easier to manage cash flow, improve operational efficiency and make informed business decisions,” he said.
Mr. Issaka-Ali said the growing use of digital payments was helping SMEs build reliable financial records that could be used to demonstrate their creditworthiness to financial institutions.
According to him, digital transaction histories were increasingly becoming an alternative means for lenders to assess businesses seeking financing, particularly those without traditional collateral.
“In the past, many small businesses struggled to access loans because they lacked assets that financial institutions could use to assess their creditworthiness. Today, digital financial footprints are opening new opportunities for entrepreneurs to secure funding and grow their businesses,” he said.
He said the shift towards digital finance was supporting broader financial inclusion by enabling more small businesses to participate in the formal financial system.
Mr. Issaka-Ali observed that significant opportunities remained to deepen digital financial inclusion, particularly among SMEs operating in rural and underserved communities where adoption of digital financial services remained relatively low.
He expressed confidence that continued innovation, collaboration among financial sector players and customer-centred solutions would accelerate digital adoption and improve productivity across Ghana’s SME sector.
He said MMFL remained committed to developing innovative financial solutions that empower individuals, businesses and communities while supporting Ghana’s transition to a more inclusive digital economy.
The MMFL MoMo App provides users with access to a range of financial and lifestyle services, including savings, loans, insurance, investments, merchant payments, bank services, pension products, fuel payments, bill payments and self-service options through a single digital platform.
