VERIFIED — CORPORATE STATEMENT; EVENT CONTEXT CORROBORATED
Digital Finance Must Move Ghanaians Beyond Basic Transactions — MMFL
MobileMoney Fintech executive Abdul-Razak Issaka-Ali says Ghana’s next phase of financial inclusion should help customers save, invest, access credit and build stronger financial futures.
Ghana’s next phase of financial inclusion must move beyond simply sending and receiving money to help more people save, invest, access credit, obtain insurance and build stronger financial futures, according to Abdul-Razak Issaka-Ali, Chief Commercial Operations Officer of MobileMoney Fintech Ltd (MMFL).
Speaking at the launch of MTN Ghana’s 2026 DigiFest at MTN House in Accra on September 7, Issaka-Ali said the next frontier of digital finance was to translate widespread access to mobile financial services into everyday financial value and improved financial wellbeing.
His comments form part of a broader DigiFest 2026 programme focused on digital innovation, technology and practical solutions for Ghana’s digital economy.
From Transactions to Financial Wellbeing
According to Issaka-Ali, mobile money has played an important role in expanding financial inclusion by making it easier for Ghanaians to move money and access financial services.
But he argued that financial inclusion should not stop at the ability to conduct a transaction.
“Financial inclusion should not end with being able to make a transaction.”
He said there was significant room to deepen access to savings, credit, investments, insurance, pensions and other financial products.
The objective, he explained, should be to give customers tools that help them manage risk, plan for the future and pursue new economic opportunities.
The comments build on Issaka-Ali’s earlier public advocacy for expanding digital financial services beyond payments. In June, he said digital transaction histories were increasingly helping small businesses demonstrate creditworthiness and potentially improve access to finance.
Collaboration Needed for a Cash-Lite Economy
Issaka-Ali also stressed that Ghana’s transition toward a more digitally enabled, cash-lite economy cannot be driven by mobile money operators alone.
He called for continued collaboration among mobile money operators, banks, insurance companies, pension providers, fintech companies, regulators and other players within the financial ecosystem.
“A cash-lite economy cannot be delivered by MoMo alone.”
He said MMFL’s platform approach was designed to enable partners to make a broader range of financial products available to customers.
The MoMo App, he added, provides a channel through which users can discover, access and manage multiple financial and lifestyle services.
AI and APIs Could Deepen Digital Finance
The MMFL executive also highlighted the potential of emerging technologies to improve digital financial services.
He pointed to artificial intelligence (AI) and application programming interfaces (APIs) as technologies that could help financial institutions personalise services, connect products more efficiently, respond more quickly to customers and strengthen fraud detection and prevention.
For Ghana’s digital-finance ecosystem, this represents a shift from simply digitising existing transactions toward building more integrated financial services around customers’ everyday needs.
MoMo FinTech Lab
The discussion also comes as MMFL expands its support for homegrown fintech innovation through the MoMo Fintech Lab.
The programme is designed to identify, support and develop innovative fintech ideas with the potential to contribute to the future of financial services in Ghana.
The programme offers selected participants mentorship, skills development, technical support, stakeholder engagement, networking and pitching opportunities. Its selection process includes stages such as hackathons, mentorship and final demonstrations.
The initiative is open to students, developers, entrepreneurs, startups and innovators working on solutions capable of addressing everyday challenges and expanding financial access.
Innovation Must Solve Real Problems
For Issaka-Ali, however, technological advancement should ultimately be measured by its impact on customers.
“The goal is not technology for its own sake.”
He said technology and partnerships should be used to solve real customer needs, expand opportunity and help more Ghanaians build healthier financial lives.
That message aligns with the broader objective of DigiFest 2026, where MTN Ghana has positioned digital innovation around practical solutions and improved customer experiences rather than technology for its own sake.
As Ghana’s digital financial ecosystem continues to expand, the challenge will increasingly be whether access to digital platforms translates into meaningful improvements in household financial resilience, business growth and long-term financial security.
GHANAMEDIA EDITORIAL NOTE: The statements attributed to Abdul-Razak Issaka-Ali are based on the corporate release supplied to GhanaMedia and independently corroborated reporting on his DigiFest remarks. The broader DigiFest and MoMo Fintech Lab context has also been verified through independent Ghanaian reporting and MTN Ghana’s published programme information.
GhanaMedia has retained attribution where statements represent MMFL’s views, projections or strategic objectives rather than independently established outcomes.
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