Mobile Money FinTech Limited (MMFL), in partnership with the United Nations Capital Development Fund (UNCDF), has launched the second phase of a programme to expand digital financial services to 18,000 women and youth-led micro, small and medium enterprises (MSMEs) in Ghana by June 2027.
The initiative, which was launched in Accra on Wednesday, is expected to provide MSMEs with access to digital savings and micro-loans and catalyze of about GH¢1.7 million in capital.
The initiative forms part of the Joint Sustainable Development Goals (SDG) Fund programme, Leveraging Digital Ecosystems for Increased MSME Productivity, implemented by the UNCDF, the United Nations Development Programme (UNDP) and the United Nations Conference on Trade and Development (UNCTAD) under the UN Resident Coordinator’s Office.
The programme is designed to address some of the persistent challenges confronting MSMEs, particularly women and young entrepreneurs, including limited access to affordable finance, savings and business management support.
At a ceremony to sign the partnership agreement and launch the scale-up phase, the Chief Executive Officer of MMFL, Shaibu Haruna, said the initiative would focus on the broader financial health of MSMEs rather than payments alone.
“The most important thing for us is that we are focusing on women as well as areas of real need, and not just around payments,” he said.
Haruna said the programme would provide services such as savings and group loans to enable micro-enterprises to build capital and grow.
He said Ghana had made significant progress in improving access to financial services and that the priority now was to ensure that micro-enterprises used those services to expand their businesses.
“We believe that the levels of access to financial services have improved in this country and it is time for enterprises, especially micro-enterprises, to take it to the next level, so that we can create big businesses for tomorrow,” he said.
The Head of Experimentation and Chief Technical Adviser of the UNCDF, Allen Anie, who represented the Country Director at the ceremony, said the partnership was intended to create an ecosystem linking policy, digital access and finance.
He said the initiative would enable MSMEs to access information, reach markets, build their capabilities and obtain financial services through more accessible and connected systems.
According to him, the first phase, undertaken in 2025, involved five financial service providers, including MTN MoMo, developing digital financial solutions based on research with merchants and agents across four regions.
With technical assistance from the UNCDF, MMFL subsequently developed an offering combining digital savings, micro-loans, financial literacy and business management training.
Mr Anie said the second phase would enable eligible MSMEs to save through their mobile phones, access digital micro-loans and improve their financial management skills.
The financial literacy component would cover budgeting, record keeping, cash-flow management and responsible borrowing, among other areas.
He said the products were designed to help businesses build savings, meet working capital requirements, purchase inventory and invest in growth.
Mr Anie urged government, financial service providers, development partners and MSME support institutions to sustain collaboration to expand access to appropriate financial products.
He said the UNCDF and its partners would monitor progress towards the targets up to June 2027 and use the lessons from the programme to inform wider efforts to improve financial health and MSME productivity.
The Director of MSMEs at the Ministry of Trade, Agribusiness and Industry, Cynthia Djokoto, said the ministry remained committed to supporting MSMEs because of their contribution to job creation and economic development.
She welcomed the partnership between the UNCDF and MMFL, with support from the Joint SDG Fund and other partners.
Madam Djokoto said the ministry particularly expected the expanded digital savings and loan products to benefit women, young entrepreneurs and persons with disabilities.
She said access to credit would enable such businesses to strengthen their operations, expand and create employment.
“The inclusion of savings solutions and financial literacy training will further support responsible financial management and sustainable business growth,” she said.
She said the ministry would continue to work with the partners to ensure that the initiative contributed to the development of Ghana’s MSME sector.
