MobileMoney Fintech Ltd targets digital credit expansion through merchant transactions

By:  Nana Appiah Acquaye

The Chief Product and Services Officer at MobileMoney Fintech Ltd, Sylvia Otuo-Acheampong, says the company is working to digitise transactions across supply chains to expand access to credit for small businesses and improve financial inclusion in Ghana.

She made this known during the Fintech Media Development Series held in Accra, under the theme “Understanding Fintech, Building Trust, Telling the Real Story.” She noted that digitising transactions would enable financial services such as credit to be embedded directly into the flow of business activities.

“Wherever money is exchanged through the value chain, can it be digitized? Because once it is digitized, the embedded that Shaibu spoke about, you are able to then embed credits in the flow,” she said.

She explained that the approach would enable businesses to access credit based on their transaction histories and purchasing patterns, rather than relying solely on conventional lending requirements.

Using the example of an avocado seller, Otuo-Acheampong said a trader who regularly sourced produce from a distributor on the MobileMoney network could potentially receive goods on credit based on transaction data and repeated purchases.

“If we know that where she sources from that particular distributor of avocado in the marketplace is on our network, so we know that she will pay,” she said.

“We have scored based on her own transaction and repeated purchases because all that data is helping us improve her scoring.”

She said the seller could collect goods on credit and repay after selling them, helping address working capital challenges faced by small businesses.

“These are the solutions we are actually working on going all the way to the value chain, the bottom and solving the problem,” she said.

Otuo-Acheampong said the company was exploring opportunities to apply the model across fast-moving consumer goods (FMCG), pharmaceuticals and other sectors, noting that solving financing challenges in one area could create opportunities in others.

She cited interest from companies including Unilever and Nestlé, alongside fintech firms working on solutions to support businesses across supply chains.

She added that MobileMoney Fintech was also working to deepen merchant transactions and improve services for agents, consumers and businesses, with further development expected in the coming year.

Beyond credit, she said the company was working to make a broader range of financial services available through its platform, including savings, insurance and investment products.