MobileMoney Ltd partners UNCDF to boost digital finance access for MSMEs

MobileMoney Ltd (MML) has been selected as one of five service providers to design and expand digital financial solutions and financial literacy programmes for micro, small and medium enterprises, with a special focus on women and youth-led businesses in underserved communities across the Northern, Ashanti and Western Regions.

The initiative is being implemented by the United Nations Capital Development Fund with support from the Sustainable Development Goal Fund.

The partnership seeks to break long-standing barriers that limit the ability of small businesses to access digital financial services, particularly in the areas of payments, loans, savings and insurance.

According to Mr Shaibu Haruna, Chief Executive Officer of MML, the project aligns with the company’s ongoing efforts to promote financial inclusion and support the growth of small businesses. He explained that the collaboration began with capacity-building sessions facilitated by UNCDF, which equipped the MML team with Human Centric Design tools to guide the development of tailored solutions.

Mr Haruna stated that financial inclusion and the empowerment of women remain central pillars of MML’s strategy. He noted that giving women and young entrepreneurs better access to digital financial tools would create lasting economic value, adding that the partnership with UNCDF fits squarely into MML’s mission to drive digital inclusion for every Ghanaian.

He further disclosed that market research carried out under the project revealed major gaps that MSMEs face in accessing customised financial products. As a result, MML is currently developing prototypes aimed at addressing these challenges and supporting sustainable business growth in the target regions.

He said the prototypes will be tested, refined and scaled to improve access to financial services for underserved MSMEs, promote sustainable growth for women and youth entrepreneurs, enhance digital and financial literacy, and contribute meaningfully to Ghana’s long-term economic development.

Mr Haruna added that MML has consistently championed women’s economic empowerment through initiatives such as the digitisation of Village Savings and Loans Association groups, supporting market women with smartphones to improve business operations, and providing seed funding to women agents to expand their enterprises.

These interventions form part of MML’s broader commitment to advancing women’s participation in the digital economy and promoting inclusive growth.