Ghana’s next phase of financial inclusion must move beyond sending and receiving money to help more people save, invest, access credit, obtain insurance and build stronger financial futures, according to Abdul-Razak Issaka Ali, Chief Commercial Operations Officer of MobileMoney Fintech LTD.
Speaking at the launch of MTN Ghana’s 2026 DigiFest at MTN House in Accra on September 7, 2026, Razak said the next frontier of digital finance is to translate widespread access into everyday financial value and improved financial health.
MoMo was created to meet a customer need: to make it easier to move money and extend financial inclusion to every Ghanaian. The opportunity now is to help customers do much more with that access,” he said.
He noted that many customers still use their wallets mainly for transfers and storing funds, leaving significant scope to deepen access to savings, credit, investments, insurance, pensions and other services.
Financial inclusion should not end with being able to make a transaction. It should open the door to products that help people manage risk, plan for the future and pursue new opportunities,” Razak said.
He stressed that achieving this ambition would require sustained collaboration among mobile money operators, banks, insurers, pension providers, fintechs, regulators and other ecosystem partners.
A cash-lite economy cannot be delivered by MoMo alone. It must be built in partnership with the institutions and innovators that together serve the financial needs of Ghanaians,” he said.
Razak said MMFL’s platform approach enables partners to make a broader range of financial products available to customers, while the MoMo App offers a convenient channel through which users can discover, access and manage multiple financial and lifestyle services in one place.
He added that technologies such as artificial intelligence and application programming interfaces (APIs) can help institutions personalise services, connect products more efficiently, respond faster to customer needs and strengthen fraud detection and prevention.
As part of its commitment to homegrown innovation, MMFL is also implementing the MoMo FinTech Lab, an innovation and development programme that identifies and supports promising fintech ideas with the potential to shape the future of financial services in Ghana.
The programme provides selected participants with mentorship, skills development, technical support, stakeholder engagement, networking and pitching opportunities to help them develop practical solutions and connect strong ideas to the wider financial-services ecosystem.
Razak said innovation must ultimately deliver measurable benefits for customers by making financial services more useful, secure and accessible. “The goal is not technology for its own sake. It is to use technology and partnerships to solve real customer needs, expand opportunity and help more Ghanaians build healthier financial lives,” he said.
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