MobileMoney Fintech Ltd. (MMFL) is shifting its strategic focus from expanding access to deepening usage across its ecosystem as it works to accelerate financial inclusion and build a stronger digital financial services platform.
In other words, having made significant strides in access expansion, the focus is now on driving usage—ensuring customers’ active engagement with services beyond basic transactions.
MMFL is, therefore, deepening financial inclusion by expanding services such as credit, insurance and advanced payment solutions across the ecosystem.
Ms Sylvia Otuo Acheampong, Chief Products and Services Officer, MMLF, shared these updates at Mobile Telecommunications Network (MTN) Ghana’s Media and Stakeholder Forum in Accra. The Forum, which brought together the media, civil society organisations, regulators, and banking partners to discuss the future of digital connectivity and financial services, formed part of MTN Ghana’s broader stakeholder engagement programme to deepen dialogue with industry partners and outline priorities for the company’s digital and financial services growth.
According to Ms Acheampong, the MMLF platform would now create more opportunities for customers to keep money within the digital ecosystem and use it seamlessly across services, adding that a key part of the strategy was onboarding more merchants and service providers to reduce reliance on cash-out and strengthen end-to-end digital payments. “The challenge is not just adoption, but ensuring the ecosystem is robust enough for users to transact digitally from end to end,” Ms Acheampong said.
She noted that while cash-out remained common in some markets, the long-term goal was to make digital payments more useful and attractive for everyday spending.
On fraud risks, Ms Acheampong gave the assurance that there were ongoing efforts to strengthen trust and security within the mobile money ecosystem.
She disclosed that AI-driven tools were being deployed to detect fraud patterns, stressing, however, that education remained critical because much of the risk was driven by social engineering.
Ms Acheampong cited customer education campaigns such as the “Shine Your Eye” initiative, which aims to improve digital literacy and help customers protect themselves against fraud and scams, as one of such efforts.
Source: G.D. Zaney, Esq.
