The
Chief Executive Officer of MobileMoney Limited (MML), Shaibu Haruna, has emphasized
the need for collaboration between financial institutions and fintech companies
to develop a more robust financial ecosystem. He made this statement during a
panel discussion on "Banking and Fintech interactions: Balancing
Innovation Risks and Inclusion" at the 3i Africa Summit held in Accra.
Mr
Shaibu Haruna spoke alongside Valentine Obi, the Founder and CEO of e-Transact
Group, Corine Mbiaketcha Nana, Member of PAPSS Management Board, Afreximbank
and Romeo Bugyei, CEO of IT Consortium Ghana. The session was moderated Djiba
Diallo, Senior Fintech Advisor, Ecobank Transactional Incorporated and was
titled “Banking and fintech Intersection: Balancing Innovation, Risks,
Inclusion Banking”.
Mr.
Haruna urged stakeholders in the financial sector to collaborate rather than
compete to build trust and work together to serve clients' needs better. He
said, “Mobile Money has been around for
15 years. When we began there was some resistance, but it has moved to
acceptance. At the core of our success are the banks. There is an interplay
between the bank and the other parties.
We have built a good business from a transactional point of view but
there is still an opportunity to do more. We are exploring innovative ways to
provide clients with credit.”
He
noted that as key players in the finTech space, “we need to view each other as collaborators with the common goal of
providing better services to our clients”. He said, “this can only be achieved through
trust, which is nurtured and built on understanding the objectives. We should
let go of the competitive mindset and explore innovative ways to partner and
collaborate to deliver value to our clients”. He stated that to accomplish
this, there must be a shared understanding of the purpose of making a positive
impact on individuals, communities, and businesses.
Mr. Haruna
emphasized MobileMoney Limited’s commitment to collaborating with finTechs to
create a smooth customer experience. He noted that, “I am grateful to the organisers of this program for bringing all
stakeholders together to have the necessary discussions. At MobileMoney Limited
we are very open to collaboration. We invite all fintechs to come on board and
work with us to build the financial ecosystem we are working towards achieving.
The goal is to see our customers have a seamless experience across all our
platforms”.
The
3i Africa Summit is a global event focused on transforming Africa’s economic
landscape through sustainable, long-term capital allocation. It addresses the
critical need for a sustainable growth framework in Africa, emphasizing inclusion
and sustainability at its core.
