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.
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