The Ministry of Trade, Agribusiness and Industry has partnered with MTN MoMo and the United Nations to deliver GHS 11.7 million in digital credit and savings. The agreement will support 18,000 small businesses across Ghana by June 2027. MobileMoney Fintech Limited signed the partnership memorandum with the United Nations Capital Development Fund in Accra on Oct 23, 2026.
The new programme focuses directly on micro, small, and medium enterprises run by women and young people. At least 10,800 small firms will gain direct access to mobile loans and savings accounts. The initiative also includes practical financial literacy training to teach business owners how to manage cash flow. Cynthia Djokoto, the Director of MSMEs at the Ministry, stated that easy access to small loans keeps local shops open and creates steady jobs.
Small firms account for about 85 percent of all business employment in Ghana according to national enterprise data. Many commercial banks still refuse to lend to small market vendors because these traders lack land titles or traditional credit histories. Mobile money accounts have stepped in to bridge this severe funding gap across 16 administrative regions. Over 20 million active mobile money accounts in Ghana now allow small traders to build digital records and access emergency working capital within seconds.
Dr Allen Anie, Head of Innovative Finance at the United Nations Development Programme, explained that targeted funding builds long-term commercial strength. He confirmed that the programme intends to reach 18,000 women and youth enterprises before the June 2027 closing date. Shaibu Haruna, Chief Executive Officer of MTN MoMo, added that digital financial tools help microenterprises expand operations and hire workers in underserved communities.
Commercial lenders in Accra often charge interest rates above 30 percent, which locks out microenterprises. Through digital channels, MTN MoMo and UNCDF reduce transaction costs by using mobile phone records rather than physical bank branches. Small traders in regional markets like Kumasi and Tamale can borrow small sums directly on their handsets to buy wholesale stock. This digital approach protects informal traders from predatory lenders who charge punishing daily fees.
The Ministry of Trade plans to monitor the rollout across rural districts to ensure women receive their promised share of credit. Cynthia Djokoto explained that business training must accompany each loan so that recipients avoid taking on bad debt. Beneficiaries will complete mobile phone modules that teach inventory tracking and debt repayment techniques. Programme managers expect these skills to lift business survival rates across the informal retail sector over the next 3 years.
Financial regulators and market observers will monitor loan default rates closely as the first batch of GHS 11.7 million enters circulation. Success in this pilot may persuade larger commercial banks to partner with telecom operators for low-cost microfinance lending. The final results by June 2027 will show whether mobile credit can sustainably reduce urban youth unemployment across Ghana.