Small and medium-sized enterprises (SMEs) in Ghana are increasingly adopting mobile money and digital payment solutions to improve efficiency, strengthen financial management and enhance access to credit, according to MobileMoney Fintech LTD (MMFL).
Speaking ahead of World SME Day, observed on June 27, the Chief Commercial Operations Officer of MMFL, Abdul Razak Issaka-Ali, said digital financial services have evolved far beyond basic money transfers and are now playing a critical role in helping businesses address operational and financial challenges.
According to him, many SMEs continue to face difficulties associated with cash handling, theft and inadequate visibility over daily business transactions.
However, the growing use of digital payment platforms is helping business owners better manage their finances while reducing the risks linked to carrying and storing cash.
“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 noted that merchant payment solutions are providing business owners with real-time visibility over transactions, enabling them to monitor revenue flows more effectively and improve accountability within their operations.
He explained that some mobile money merchant solutions are designed to allow attendants and cashiers to receive payments from customers without direct access to business funds, helping to reduce internal leakages and strengthen 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 stated.
Beyond improving operational efficiency, the increased visibility of business transactions is also helping SMEs build credible financial records, a development that is creating new opportunities for access to finance.
Mr. Issaka-Ali observed that digital transaction histories are increasingly being used by financial institutions to assess the financial behaviour and creditworthiness of businesses, reducing reliance on traditional collateral requirements that have historically excluded many small enterprises from formal financing.
“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 explained.
He noted that despite the progress made, significant opportunities remain to deepen digital financial inclusion, particularly among SMEs operating in rural and underserved communities where digital adoption remains comparatively low.
Mr. Issaka-Ali expressed optimism that continued innovation, stronger collaboration across the financial ecosystem and customer-centric financial solutions would further empower businesses, enhance productivity and support Ghana’s transition to a more inclusive digital economy.
MobileMoney Fintech LTD says it remains committed to advancing financial inclusion and supporting economic growth through innovative digital financial solutions that empower individuals, businesses and communities.
The company’s MoMo App serves as a one-stop digital platform providing access to a broad range of financial and lifestyle services, including insurance, loans, savings, investments, fuel payments, bank services, merchant and QR payments, pensions, loyalty rewards and other self-service options.
MobileMoney Fintech LTD, which was launched in 2009, currently serves more than 17 million registered subscribers and offers a range of services spanning payment solutions, remittances, BankTech, InsurTech, savings and loans.
The company says its focus remains on driving financial inclusion and economic empowerment across Ghana.
Source: businesspostonline
