As digital lending expands rapidly across Africa, the Managing Director of Telecel Cash and Digital Transformation, Philip Amoateng, has said the next phase of growth must focus on long-term financial health for consumers.

Speaking at a roundtable on the topic, ‘Designing a Consumer‑Centric Digital Credit and Banking Ecosystem' at the 3i Africa Summit 2026, Mr Amoateng called for credit systems to be designed around the realities of low-income and informal-sector workers, many of whom rely on short-term borrowing for daily needs.

“We must design credit products to maximise the benefits for more people than the select few to achieve a greater payout. Credit products and schemes should also be designed to support the vulnerable populations and be in their best interests.”

His comments come as Ghana’s digital finance sector continues to expand rapidly, with mobile money transactions reaching GH¢4.5 trillion in 2025, according to the Bank of Ghana.

For many Ghanaians, particularly the more than 80 per cent employed in the informal sector, digital credit is increasingly used for school fees, healthcare, utilities and working capital rather than large consumer purchases.

Mr Amoateng also touched on loan recovery strategies, saying lenders must align repayment structures with the customer’s cash flow patterns to avoid creating financial stress.

He called for more customer-focused recovery practices, including repayment reminders, incentives and direct engagement rather than aggressive collection tactics.

“The credit schemes and their recovery and collection process should not overburden people. If you strangle people with credit, it becomes a problem for them and their business, which can hurt their financial health in the long term.”

Mr Amoateng said that Telecel Cash utilises alternative data, such as telecom usage and mobile money transaction patterns, to support small overdrafts and short-term loans for underserved consumers and mobile money agents.

He further advocated for regulators to establish interoperable, centralised financial data pools to expand credit access and make credit status transparent to individuals.

Also speaking on the roundtable, Chief Executive Officer of the Ghana Digital Chamber and Chamber of Telecommunications, Sylvia Owusu-Ankomah, said stronger financial literacy is critical to ensuring responsible participation in digital credit systems.

“Achieving financial literacy will help solve a lot of the problems around the credit system. The success of the credit system and the financial health of the population hinge on strong financial literacy among the majority. We should ensure the digital credit systems are well understood by people in their language,” she said.

Moderated by Peter McConaghy, Policy Advisor for Financial Sector Development at the UN, the roundtable also featured representatives from the Bank of Ghana, the Ministry of Finance, Women’s World Banking, Fido, Affinity Ghana and Universal Pensions.

Convened by the Bank of Ghana in collaboration with Ghana Interbank Payment and Settlement Systems and the Monetary Authority of Singapore through the Global Finance & Technology Network, the 3i Africa Summit focuses on advancing innovation, investment, and impact across Africa’s digital finance ecosystem.

This year’s summit, under the theme “The Next Frontier: Shaping Africa’s Integrated FinTech Future,” brought together policymakers, regulators, telecom operators, fintech firms, bankers, and investors to explore strategies to expand financial inclusion and strengthen Africa’s digital economy.