By: Nana Appiah Acquaye
Small and medium-sized enterprises (SMEs), widely recognised as the
engine of Ghana’s economy, are increasingly leveraging mobile money and digital
payment solutions to improve operational efficiency, strengthen financial
management and unlock new opportunities for growth and access to credit,
according to MobileMoney Fintech LTD (MMFL).
Speaking ahead of the 2026 World SME Day, observed on June 27,
Abdul Razak Issaka-Ali, Chief Commercial Operations Officer of MobileMoney
Fintech LTD, said digital financial services have evolved beyond simple money
transfers to become essential business tools that help entrepreneurs address
key operational challenges.
He noted that many SMEs still struggle with cash handling, theft
and limited visibility over daily transactions. Digital payments, he said, are
helping business owners manage their finances more effectively while reducing
the risks of carrying or storing cash.
“At the heart of this evolution is MMFL’s commitment to
transforming the way people do business for the better,” he said. “It is not just about digitising payments; it is about
creating real impact for businesses.”
Mr. Issaka-Ali explained that merchant payment solutions now allow
business owners to monitor transactions in real time, giving them greater
control over revenue while improving accountability. He added that some MoMo
solutions are designed to enable attendants to receive customer payments
without having direct access to business funds, helping to minimise internal
leakages.
“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.
This growing visibility over business transactions is also creating
a stronger foundation for SMEs to build financial records and demonstrate their
creditworthiness. Beyond payments, Mr. Issaka-Ali highlighted access to finance
as another area where digital financial services are making a significant
difference for SMEs.
He said digital transaction histories are enabling financial
institutions to assess customers based on their financial activity rather than
relying solely on traditional collateral requirements.
“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.
Looking ahead, Mr. Issaka-Ali noted that significant opportunities
remain to deepen digital financial inclusion, particularly among SMEs operating
in rural and underserved communities where digital adoption levels are still
comparatively lower.
He expressed confidence that continued innovation, collaboration
across the financial ecosystem, and customer-focused solutions would further
empower Ghanaian businesses, improve productivity and support the country’s
transition to a more inclusive digital economy. Abdul Razak shared these
insights when he took his turn on the on-air series of the Citi Business
Festival.
MobileMoney Fintech LTD remains committed to building Ghana’s
digital future together while unlocking growth and opportunities for everyone
through financial solutions that empower individuals, businesses, and
communities to thrive.
The MoMo platform (MoMo App) serves as a one-stop platform where
customers can access a wide range of financial and lifestyle services,
including insurance, loans, savings, investments, fuel payments, bank services,
QR and merchant payments, wallet and self-service options, loyalty rewards,
pensions, lifestyle services and basic services. The MoMo App can be downloaded
from the Google Play Store, iOS App Store, Palm Store or Huawei AppGallery.
