Fidelity Bank Ghana, in collaboration with MobileMoney Limited (a subsidiary of MTN Ghana) and banking technology firm JUMO, has launched BoseaLoan — a mobile-based short-term loan product.

The new service, available exclusively to MTN MoMo customers, seeks to empower individuals and small businesses that traditionally lack access to formal credit systems.

The BoseaLoan product brings together three industry giants, each contributing unique strengths to the initiative. Fidelity Bank, Ghana’s largest privately-owned bank, offers its robust financial infrastructure. MobileMoney Limited provides the digital platform and wide mobile money network of over 17 million registered users. Meanwhile, JUMO contributes its AI-powered technology to assess risk and enable quick, flexible credit delivery at scale.

This powerful triad aims to unlock credit access for micro-entrepreneurs, traders, and individuals who often face difficulty securing loans due to lack of collateral or formal credit histories.

Fast, Flexible, and Accessible Credit via Mobile

Through BoseaLoan, eligible MTN MoMo customers can access instant mobile loans directly from their phones. The service evaluates users based on their mobile financial behaviour rather than traditional banking criteria, eliminating many of the barriers that prevent people from obtaining formal credit.

The loan application process is straightforward: users dial *170#, select “Financial Services,” choose “Loan Services,” and then select “BoseaLoan.” This seamless user experience underscores the product’s design ethos — simplicity, speed, and accessibility.

A key objective of the BoseaLoan initiative is to empower Ghana’s most financially excluded groups — particularly women, youth, and micro-entrepreneurs. These demographics often operate in the informal sector and are unable to meet the stringent requirements of traditional banking systems.

Mr. Julian Opuni, Managing Director of Fidelity Bank Ghana, affirmed this mission, saying, “The launch of BoseaLoan aligns with our broader vision of economic empowerment. It simplifies access to formal credit while lowering entry barriers for underserved communities.”

He also emphasized Fidelity Bank’s decade-long dedication to financial inclusion, citing the bank’s introduction of agency banking in Ghana and its current network of over 8,000 agents across the country.

For MobileMoney Limited, the introduction of BoseaLoan marks a significant stride toward realizing MTN’s goal of becoming Africa’s leading digital and financial services platform. CEO Mr. Shaibu Haruna noted, “This collaboration is not only about access to credit – it reflects our broader commitment to building a robust, inclusive financial ecosystem that fosters sustainable growth.”

Haruna added that BoseaLoan reinforces MobileMoney Limited’s broader financial services portfolio, which includes savings, payments, insurance, and international remittances — all geared toward empowering everyday Ghanaians.

Leveraging AI to Deliver Smarter Financial Products

JUMO’s participation in the partnership is driven by its mission to democratize access to quality financial services using artificial intelligence. Mr. Bradwin Roper, Chief, Payments Partnerships at JUMO, highlighted the importance of data-driven innovation.

“Our AI-driven platform drastically reduces the cost of delivering financial services, helping banks and mobile operators reach customers long excluded from such opportunities. Together with Fidelity Bank and MoMo from MTN, we are enabling smarter credit delivery grounded in deep data insights.”
Mr. Bradwin Roper

Since 2015, JUMO has disbursed over $7.7 billion in loans across nine African countries, reaching nearly 31 million customers. Their track record underscores the scalability and impact of technology-led credit models.

The launch of BoseaLoan stands as a compelling example of how private sector collaboration can bridge the financial access gap in developing economies. By combining financial muscle, digital distribution, and advanced analytics, Fidelity Bank, MobileMoney Limited, and JUMO are not only reshaping credit delivery — they are laying the foundation for broader economic inclusion in Ghana.

With over 2.5 million customers and 82 branches, Fidelity Bank continues to lead as a champion of inclusive banking. Meanwhile, MTN’s MobileMoney platform and JUMO’s intelligent infrastructure are helping bring the unbanked into the formal economy.