Ghana’s financial technology industry has reached a decisive moment where regulation must evolve in tandem with innovation to ensure that new digital financial products foster economic growth while safeguarding consumers, the Chief Executive Officer of MobileMoney Ltd (MML), Mr Shaibu Haruna, has said.

Speaking at the 2025 Fintech Stakeholder Forum held in Accra under the theme “Harnessing Ghana’s Fintech Potential: Regulatory Frameworks for Digital Credit and Digital Assets,” Mr Haruna said the country’s fintech ecosystem had grown rapidly, but its sustainability depended on maintaining a fine balance between innovation and financial integrity.

He cautioned that while mobile money and digital credit platforms have revolutionised access to finance, many Ghanaians remain hesitant to engage fully due to fears of fraud, data breaches, and the misuse of personal information.

“Regulation must evolve alongside innovation, ensuring that technology continues to drive inclusion and growth without compromising consumer protection,” he said.

Collaboration for a resilient ecosystem

The high-level forum, organised by MML — a subsidiary of MTN Ghana — brought together regulators, banks, fintech firms, policy think tanks, and academia to deliberate on strategies for deepening financial inclusion and building a sustainable digital payments ecosystem.

“The purpose of this gathering is simple,” Mr Shaibu told participants. “It is to create a platform where policymakers, regulators, and innovators connect — to share ideas on how we can shape the future of our industry and build an inclusive and sustainable digital financial landscape in Ghana.”

He said discussions at the forum would centre on how Ghana can collectively harness the potential of digital credit and digital assets to empower small businesses, expand access to finance, and accelerate national development.

“But as we pursue innovation, we must also maintain robust regulatory frameworks that protect consumers and the integrity of our financial system,” he added.

Commending BoG’s proactive role

Mr Shaibu praised the Bank of Ghana (BoG) for its proactive leadership in supporting innovation, particularly through the establishment of its Fintech and Innovation Office, which serves as a hub for policy dialogue and industry engagement.

“The Bank of Ghana has shown commendable commitment by not only regulating but also collaborating — ensuring that innovation thrives within a stable and credible environment,” he noted.

He also acknowledged the participation of policy institutions such as IMANI Africa and academic partners like the Institute for Scientific and Economic Research (ISE), describing their involvement as critical to broadening the national conversation around fintech development.

“By including policy researchers and academia, we hope to enrich today’s discussion with diverse insights on how this industry is evolving,” he said.

Building partnerships beyond dialogue

Mr Shaibu emphasised that the event was not only about discussion but also about building enduring partnerships that would shape the future of digital finance in Ghana and beyond.

“At MobileMoney Limited, we believe that meaningful progress happens when we engage, listen, and build together,” he said. “This gathering is therefore not just a forum for talk, but a demonstration of shared commitment — a commitment to a future where innovation serves people and upholds dignity in our society.”

He expressed optimism that the outcomes of the forum would inform actionable policies and collaborative initiatives to strengthen Ghana’s digital economy.

“We are privileged to host a myriad of collaborators today,” he said. “This industry would not be where it is without the active partnership of the Bank of Ghana, fintechs, and banks. The exhibitions and displays you see outside are a representation of what we do — working together to ensure innovation happens at scale.”

Driving responsible innovation

The 2025 Fintech Stakeholder Forum underscored a growing consensus among key industry players that Ghana’s fintech future must be driven by responsible innovation. Participants agreed that as digital credit, mobile money, and asset-based technologies expand, the need for adaptive regulation becomes even more urgent.