MobileMoney FinTech Ltd (MMFL) now processes more than 26 million transactions every single day, a milestone its CEO, Mr. Shaibu Haruna, says shows how deeply mobile money has become Ghana’s national transaction rail.
Speaking at the second edition of the MMFL Media Development Series held for editors and senior journalists, Mr. Haruna disclosed that the sheer volume of daily transactions places a huge responsibility on the company to maintain reliability, security and scale.
He said to meet the surging demand, MMFL undertook a major technology upgrade in 2025 that nearly doubled its transaction-processing capacity, with continuous investment in cybersecurity and system resilience.
“We view ourselves as a national transaction rail,” Mr. Haruna stated, stressing that public confidence depends on uninterrupted service and protection of customer funds.
The 26-million-a-day figure comes as Ghana’s entire mobile money industry processed over GH¢4 trillion in transaction value in 2025, according to the CEO.
He clarified that the GH¢4 trillion is not revenue but total movement of funds across agents, banks, merchants and individuals, with a significant portion attracting zero fees to keep liquidity flowing in the ecosystem.
But beyond the numbers, Mr. Haruna said Ghana must now move from access to impact.
While mobile money adoption has soared, he noted that millions of micro, small and medium enterprises (MSMEs) remain trapped in subsistence operations, using personal wallets for business and mixing personal and business finances.
That practice, he explained, weakens financial discipline, makes credit assessment difficult and blocks growth.
MMFL’s next strategy, he said, is to transform the informal economy by turning those high-frequency transactions into economic opportunity through digital lending, business profiling and structured enterprise support.
“For us, we want to profile such a person as a small merchant because we want to take them on a certain growth journey,” he said, adding that transaction histories and payment patterns can help banks assess creditworthiness without traditional collateral.
He cited the example of a small-scale avocado trader who relied on digital loans to sustain her business but had to divert working capital for a medical emergency before recovering, a reality faced by many informal traders.
According to him, responsible digital lending, repayment discipline and customer education will be critical to unlocking growth for such businesses, and MMFL will work with banks and fintechs to deliver tailored solutions.
Mr. Haruna also warned that rising sophistication of fraud threatens the gains made, with criminals now operating beyond mobile money into social media, online marketplaces and messaging apps.
Recounting a personal attempt to compromise his own WhatsApp account through a fake pizza outlet listing, he called for stronger industry collaboration, real-time information sharing and AI-powered fraud detection across platforms.
On product direction, he said MMFL is pushing adoption of the MoMo App to improve convenience, noting that about 70 percent of agents already have smartphones, though USSD will not be phased out.
The company is also exploring embedded finance where everyday spending can trigger micro-savings and insurance, for example a customer spending GH¢1,000 voluntarily allocating GH¢1 or GH¢2 to investment.
He further highlighted asset tokenisation as a way to make gold investment accessible to ordinary Ghanaians, allowing someone to buy as little as GH¢10 worth of fractional gold through regulated digital platforms, pending regulatory guidelines expected before end of 2026.
Mr. Haruna also called for greater interoperability of African payment systems to enable cross-border trade for microenterprises under the AfCFTA, saying Ghana’s mobile money interoperability experience offers lessons for the continent.
He touched on persistent inclusion gaps, including women running businesses registered in men’s names and lack of IDs, which still exclude some groups from formal finance.
He reaffirmed MMFL’s commitment to partner with banks, fintechs, regulators and the media to ensure the 26 million daily transactions translate beyond payments into sustainable businesses, jobs and financial well-being for Ghanaians.
