Author: Maame Owusua
MobileMoney FinTech Limited has thrown open applications for its new MoMo FinTech Lab, a nationwide programme aimed at turning ideas from Ghanaian innovators into real, market-ready financial technology products.
Announced in Accra yesterday, the Lab is designed to bring together talent from universities, startups, developer communities and the wider financial sector to tackle everyday problems with digital tools.
*A full pipeline from idea to market*
Successful applicants will move through a structured 3-stage journey.
It starts with an intensive bootcamp to sharpen technical and business skills. From there, participants will compete in regional hackathons across Accra, Kumasi and Tamale to build and test working prototypes.
The 12 best-performing teams will then enter a mentorship and incubation phase, where they’ll get hands-on support, technical backing and business coaching to refine their solutions for launch.
The programme will close with a National Demo Day. Top finishers stand to win GH¢100,000, GH¢50,000 and GH¢30,000 respectively, each package also coming with electronic devices. Entries are to be submitted directly through the MoMo App.
*“This is a national platform, not just a corporate project”*
The Minister for Communication, Digital Technology and Innovation, Mr Samuel Nartey George, who launched the initiative, framed it as a country-wide effort.
“This is more than a corporate programme. It is a national platform to nurture local innovation and position Ghana as a leader in digital finance,” he said.
He called on all players in the ecosystem to get involved.
“People in academia, regulators, financial institutions, investors and technology innovators should leverage the platform to collaborate in building a resilient and globally competitive financial technology ecosystem in Ghana.”
Mr Nartey added that the Lab feeds directly into government’s digital transformation priorities — expanding digital public infrastructure, improving connectivity and affordability, reforming digital identity, and upskilling youth through the One Million Coders Programme.
*Building skills first, prizes second*
For MMFL, the goal is impact over awards.
CEO Mr Shaibu Haruna said the Lab is meant to equip young builders with tools to solve problems at scale.
“We want to bring that platform to enable our young talent to build solutions that solve these problems,” he noted.
“The lab will help participants develop concepts that could solve problems not only within their institutions but also across communities nationwide.”
He was clear on the focus:
“The initiative is focused on building skills rather than simply rewarding winners with prize money.”
*Bank of Ghana throws its weight behind the Lab*
The Head of Fintech and Innovation at the Bank of Ghana, Mr Owureku Asare, said the central bank fully endorses the programme.
“The lab was built on the principles of responsible innovation and trust. Sustainable growth in the sector requires strong governance, adequate capital, mentorship and effective partnerships between regulators and innovators,” he stated.
He credited the rapid expansion of Ghana’s fintech space to mobile money and digital financial services, and said the Lab aligns with BoG’s regulatory sandbox, innovation roadmap and ongoing work on the digital cedi.
Mr Owureku also revealed regional plans underway:
“The central bank is working with other African countries, including Rwanda and Nigeria, to promote cross-border payment interoperability and facilitate seamless value transfers across the continent.”
With applications now live on the MoMo App, MMFL says the Lab will serve as a bridge connecting students, startups, investors and regulators to co-create solutions that can scale across Ghana and beyond.
