Mobile Money helping SMEs to reduce cash-related risks – MMFL
Mobile Money Fintech Limited (MMFL), a digital financial services subsidiary of MTN Ghana, has highlighted the growing role of mobile money and digital payment solutions in helping Small and Medium-sized Enterprises (SMEs) to reduce cash-related risks.
The company said many SMEs continued to face challenges associated with cash transactions, including theft, loss of funds, poor record-keeping and limited visibility over daily business activities.
Mr Abdul Razak Issaka-Ali, the Chief Commercial Operations Officer of MMFL, said digital financial services were providing a safer and more efficient alternative for businesses by reducing the need to handle large volumes of cash.
Speaking ahead of the 2026 World SME Day during the Citi Business Festival on-air series, he said the increasing adoption of mobile money merchant payment solutions was helping business owners to strengthen financial controls and enhance accountability.
“At the heart of this evolution is MMFL’s commitment to transforming the way people do business for the better,” he said.
“It is not just about digitising payments; it is about creating real impact for businesses.”
Mr Issaka-Ali noted that cash handling remained a major concern for many enterprises, particularly small businesses that often operated without sophisticated financial management systems.
He said digital payment platforms enabled business owners to receive payments directly into their accounts, reducing the risks associated with carrying, storing or transporting cash.
The MMFL’s merchant payment solutions also provided business owners with real-time visibility of transactions, allowing them to monitor revenue streams and make informed decisions based on accurate financial information.
Mr Issaka-Ali explained that some of the company’s solutions allowed shop attendants and employees to receive customer payments without having direct access to business funds, thereby helping to minimise internal leakages and unauthorised use of company resources.
“We have tailored our solutions to meet the needs of SMEs. Business owners can track every payment made into their accounts, making it easier to manage cash flow, improve operational efficiency and make informed business decisions,” he said.
Mr Issaka-Ali observed that improved transaction visibility was not only enhancing business management but was also helping SMEs build credible financial records.
He said digital transaction histories were increasingly being used by financial institutions to assess customers’ financial activities and creditworthiness, creating opportunities for businesses to access funding.
He noted that in the past, many SMEs struggled to obtain loans due to limited collateral and inadequate financial records, but digital financial footprints were helping to bridge that gap.
Mr Issaka-Ali called for greater adoption of digital financial services, particularly among businesses operating in rural and underserved communities where cash transactions remained dominant.
He expressed confidence that continued innovation and collaboration within the financial sector would accelerate financial inclusion, improve productivity and support the growth of Ghana’s SME sector.
Source: GNA