The Chief Executive Officer of MobileMoney FinTech Limited (MMFL), Shaibu Haruna has explained that many traders use personal mobile money wallets for business transactions, making it difficult to separate household expenditure from business income and establish reliable financial records.
To address the challenge, MMFL intends to collaborate with financial institutions and strategic partners to develop tailored solutions that will help informal operators manage their finances and improve their eligibility for credit.
Mr Haruna said digital lending could provide alternative routes to financing by using transaction histories and payment patterns to assess customers who lack conventional collateral or extensive financial documentation.
However, he emphasised the importance of responsible borrowing, repayment discipline and customer education to ensure that digital credit supports sustainable business development.
He made the remarks at the second edition of the MMFL Media Development Series.
The CEO disclosed that Ghana’s mobile money industry processed transactions worth more than GH¢4 trillion in 2025, clarifying that the figure represented the total value of transactions rather than revenue earned by service providers.
He further revealed that MMFL processes more than 26 million transactions daily and upgraded its technology infrastructure in 2025, nearly doubling its transaction-processing capacity to accommodate growing demand.
“We view ourselves as a national transaction rail,” he said, stressing the importance of reliable systems, cybersecurity and continuous investment in infrastructure.
Mr Haruna warned that increasingly sophisticated digital fraud posed a significant threat to public confidence and financial inclusion, as criminals continued to exploit social media, online marketplaces and messaging applications.
He recounted an incident in which fraudsters attempted to compromise his WhatsApp account after he contacted what appeared to be a legitimate pizza business online, highlighting the risks associated with deceptive internet listings.
He called for stronger cooperation among financial institutions, telecommunications companies, technology providers and regulators, while identifying artificial intelligence as a useful tool for detecting suspicious transactions and improving fraud prevention.
As part of its digital expansion plans, MMFL is promoting wider adoption of its MoMo application to simplify transactions and improve access to different financial services. Mr Haruna assured customers that existing USSD services would remain available.
He also highlighted opportunities in embedded finance, which could enable customer
