Women and Youth Entrepreneurs in Northern, Ashanti, and Western Regions to Benefit from MobileMoney-UNCDF Initiative
Women and youth-led micro, small, and medium enterprises (MSMEs) across Ghana’s Northern, Ashanti, and Western Regions are set to benefit significantly from a strategic partnership between MobileMoney LTD and the United Nations Capital Development Fund (UNCDF). This collaboration is part of the Leveraging Digital Ecosystems for Increased MSMEs’ Productivity project, funded by the SDG Fund, which aims to empower underserved businesses while promoting financial inclusion nationwide.
MobileMoney LTD has been selected as one of five service providers to develop and scale innovative digital financial services and financial literacy programs specifically designed for women and youth-led enterprises. The project addresses persistent challenges MSMEs face in accessing and effectively utilizing financial services, particularly in the areas of payments, loans, savings, and insurance. Through this initiative, these businesses will gain access to tailored solutions that foster sustainable growth and strengthen their participation in the digital economy.
Speaking on the significance of the initiative, Shaibu Haruna, Chief Executive Officer of MobileMoney LTD, emphasized that empowering women and young entrepreneurs is central to the company’s mission. He stated that the partnership with UNCDF aligns with MobileMoney LTD’s broader objective of driving digital inclusion for all Ghanaians while contributing to sustainable development. Haruna explained that market research conducted by the company highlighted critical gaps in access to financial solutions for MSMEs, and that the new initiative is a natural extension of MobileMoney LTD’s strategic focus on inclusive growth. The company is now developing and testing prototypes to address these gaps, aiming to enhance financial accessibility and support sustainable business growth across the targeted regions.
The project commenced with capacity-building sessions facilitated by UNCDF, equipping the MobileMoney LTD team with Human-Centric Design tools and insights to guide the development of effective digital solutions. Building on these foundations, the company conducted comprehensive market research to better understand the unique needs of MSMEs. With this understanding, MobileMoney LTD is advancing to the prototype development phase, where the proposed solutions will be refined and tested to ensure maximum impact. The initiative is designed to expand financial services to previously excluded MSMEs, improve digital and financial literacy among business owners, and create long-term positive effects on Ghana’s economic development.
Over the years, MobileMoney LTD has demonstrated its commitment to women’s economic empowerment through several impactful initiatives. These include the digitization of Village Savings and Loans Association (VSLA) groups, providing smartphones to market women to enhance business operations, and offering seed funding to women agents to grow their enterprises. Collectively, these efforts are part of the company’s broader agenda to increase women’s participation in the digital economy and foster inclusive growth across the country.
Launched in 2009, MobileMoney LTD is a subsidiary of MTN Ghana and has over seventeen million registered subscribers. The company offers a wide range of mobile financial services, including payment solutions, remittance, Banktech, Insurtech, savings, and loans, positioning itself as a key driver of financial inclusion and economic empowerment in Ghana.
Media Contacts:
Paapa Osei – Head, Legal & Reputation Management, MobileMoney LTD (paapa.osei@mtn.com)
Afua Serwaa Asafo-Adjei – Manager, Communications and Stakeholder Management, MobileMoney LTD (afua.asafo-adjei@mtn.com)
MML Communications [MML Ghana] – MMLCommunications.gh@mtn.com
About MobileMoney LTD:
MobileMoney LTD, the mobile financial services arm of MTN Ghana, has leveraged technology since 2009 to provide inclusive financial services that empower individuals and businesses to participate fully in the digital economy. For further information, visit mtn.com.gh.
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