MobileMoney Fintech Limited (MMFL), operators of MTN MoMo, plans to develop services tailored to microenterprises, saying treating small traders solely as individual consumers does not adequately address their business needs.

Speaking at the Fintech Media Development Series, Chief Executive Officer of MMFL, Shaibu Haruna, said the company wanted to identify small merchants and support their growth in partnership with other service providers.

“When you look at them as consumers, and you are providing consumer services to them, it doesn’t really resonate with their need,” he said.

Haruna identified the mixing of personal and business finances as a major challenge for small enterprises in Ghana. He said separating the two was an essential step towards business growth.

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“That separation is very necessary as a key step to unlocking growth in our business ecosystem,” he stated.

He said the company intended to focus deliberately on microenterprises, although he acknowledged that serving this segment presented challenges.

Recounting an encounter with an avocado seller who used a mobile money loan to finance her business, Haruna described such credit as a lifeline for small traders.

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The experience, he said, reinforced the need to recognise these customers as business owners and design services that meet their specific needs.

“We are focusing on the microenterprises. It’s a difficult area to crack, but we are very committed,” he said.

Haruna also called for improvements in the usability of mobile money services, noting that the growing range of offerings had made it increasingly difficult for customers to navigate the platform.

He said customers sometimes had to go through several menu options before reaching the service they needed, highlighting the need to simplify the user experience.

DR/MA

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