Ghana’s financial technology industry has entered a decisive phase where regulation must keep pace with innovation to sustain growth and protect consumers, according to Mr Shaibu Haruna, Chief Executive Officer of MobileMoney LTD (MML).
Speaking at the 2025 Fintech Stakeholder Forum in Accra on the theme “Harnessing Ghana’s Fintech Potential: Regulatory Frameworks for Digital Credit and Digital Assets,” Mr. Haruna said the country’s rapidly expanding fintech ecosystem required a regulatory approach that encouraged innovation while ensuring financial integrity.
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He cautioned that despite the success of mobile money and digital credit in transforming financial access, concerns over fraud, data breaches, and misuse of personal information continued to limit public confidence.
“Regulation must evolve alongside innovation, ensuring that technology continues to drive inclusion and growth without compromising consumer protection,” he said.
The forum, organised by MML, a subsidiary of MTN Ghana, brought together regulators, financial institutions, fintech companies, think tanks, and academia to discuss strategies for deepening inclusion and building a resilient digital payments ecosystem.
“The purpose of this gathering is simple,” Mr Haruna explained. “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 the discussions would explore how digital credit and digital assets could empower small businesses, expand access to finance, and drive national development, but warned that innovation without strong governance would threaten consumer trust.
Mr Haruna commended the Bank of Ghana (BoG) for its leadership in fostering innovation through its Fintech and Innovation Office, which provides a platform for policy engagement and industry collaboration.
“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 praised the involvement of policy institutions such as IMANI Africa and academic partners like the Institute for Scientific and Economic Research (ISE), saying their participation helped to enrich the national conversation around fintech development.
Mr Haruna stressed that the forum was not just a dialogue but a step toward building enduring partnerships that would shape the future of digital finance.
“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.”
Participants at the forum agreed that Ghana’s fintech future must be guided by responsible innovation, with adaptive regulation playing a crucial role as digital credit, mobile money, and asset-based technologies expand nationwide.
