MobileMoney Fintech LTD (MMFL) has launched a nationwide capacity-building drive, titled the “Wo Nkɔsoɔ” (Your Progress) initiative, to equip 600 micro, small, and medium enterprises (MSMEs) across Ghana with practical training in financial literacy, digital payments, credit readiness, and sustainable business growth.
Announcing the launch, the company indicated that the program is strategically structured to move informal sector operators away from basic transaction-only platforms toward advanced, formal financial architectures, focusing heavily on improving ground-level record-keeping, cash flow optimization, and consistent savings habits.
The initiative aims to position grassroots entrepreneurs to systematically access commercial credit, micro-insurance, and future investment inflows, recognizing that while the informal economy is the primary employment engine for local communities, participants routinely operate without the foundational business systems required to scale.
To address these vulnerabilities, MMFL is rolling out the specialized training program to focus directly on vulnerable and underserved industrial segments.
“The programme targets informal sector operators, including women-led businesses, fashion designers (dressmakers and tailors), hairdressers, and farmers, many of whom support households and communities while operating with limited access to formal financial tools”
MobileMoney Fintech LTD
The operational launch of the “Wo Nkɔsoɔ” initiative took place in Kumasi, embedded within the National Conference of the Ghana Dressmakers and Tailors Association. This venue was chosen deliberately to insert the training modules directly into active, organized trade ecosystems.
Speaking at the launch event, Charles Osei Owusu, Senior Manager for Business Development at MobileMoney Fintech LTD, highlighted the persistent market challenges facing domestic entrepreneurs that drove the design of the intervention, noting that it bypasses abstract economic theory in favor of hands-on execution, teaching micro-entrepreneurs how to convert their daily physical ledger systems into clear digital financial records.
“We engage business owners who have the talent, determination, and customer base to grow, yet many still lack access to the financial tools they need to scale. This initiative is designed to bridge that gap with practical support tailored to their needs”
Charles Osei Owusu, MMFL Senior Manager for Business Development
For MMFL, addressing this structural barrier requires expanding the definition of real financial inclusion. The enterprise maintains that true economic empowerment involves transitioning everyday merchants from standard wallet-to-wallet cash transfers toward a comprehensive financial identity.
Training informal operators to build an institutional track record through regulated digital transaction rails establishes a reliable mechanism to assess and verify the financial health of businesses that have historically been deemed unbankable by commercial lending institutions.
Driving Access
A core component of the “Wo Nkɔsoɔ” framework is its multi-sectoral collaborative architecture. Rather than deploying an isolated corporate social responsibility program, MMFL has constructed a formal alliance alongside Universal Merchant Bank (UMB), digital e-commerce aggregator Kola Market, and the national trade associations representing each target group.
This ecosystem links fintech transaction rails directly to commercial banking infrastructure and digitized agricultural and retail market pipelines.
The integration of Universal Merchant Bank provides a direct path toward formal credit readiness and risk mitigation. During the sessions, entrepreneurs receive targeted training in digital banking platforms, formal business registration processes, and strict fraud prevention metrics.
The focus on fraud prevention is an operational necessity, ensuring that cash-strapped micro-enterprises can safeguard their active working capital from emerging cyber threats.
Through channeling business revenues through audited digital channels, these small enterprises create a verifiable transaction history, allowing commercial entities like UMB to perform accurate credit risk indexing and offer business loans without requiring traditional, prohibitive physical assets as collateral.
Simultaneously, the partnership with Kola Market provides small business owners with the tools needed to access modern supply-chain logistics and broader consumer markets. This operational linkage helps artisans, retailers, and farmers optimize their inventory management, minimize post-harvest or production waste, and interface directly with larger corporate buyers.
The programmatic blueprint for the “Wo Nkɔsoɔ” initiative is built for national scale. Following its inaugural rollout in Kumasi, MMFL will deploy the four trade-specific training modules across the remaining “major economic hubs of Accra, Takoradi, and Tamale before the end of the year.”
This phased geographic expansion ensures that localized market variations – such as urban retail dynamics in Accra versus agricultural supply chain constraints in Tamale – are thoroughly addressed within the training delivery.
As a dedicated subsidiary of MTN Ghana responsible for mobile financial services since 2009, MMFL holds an operational base of more than 17 million registered subscribers – an extensive market footprint that places the entity in a unique position to influence the formalization of Ghana’s retail ecosystem.
The company’s diverse portfolio – spanning localized payment solutions, cross-border remittances, BankTech, InsurTech, and structured savings and loans channels – serves as the permanent infrastructure through which these 600 businesses will manage their operations post-training.
Utilizing these integrated digital solutions, the “Wo Nkɔsoɔ” initiative aims to create a highly resilient tier of formalized small businesses capable of navigating macroeconomic volatility.
For industry stakeholders, institutional investors, and policy regulators, this capacity-building drive offers a clear roadmap for how strategic fintech interventions can successfully convert informal economic energy into verifiable, sustainable macroeconomic growth across Ghana.
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