Increased collaboration in fintech industry crucial to financial ecosystem - Shaibu Haruna

CEO of MTN MoMo Limited, Shaibu Haruna has expressed optimism about the future of the financial services industry in Ghana.

Speaking at the MTN National Stakeholder Dinner and Awards Night on Friday, November 8, 2024, Haruna highlighted significant opportunities for growth and innovation and called for collaboration to enhance service penetration in critical areas of the financial ecosystem.

Haruna acknowledged that despite the progress made, service penetration in areas such as digital payments and e-commerce remains low.

“We believe we are on the verge of an even stronger evolution of this industry. It is a fact that despite all the great strides that we've achieved, the level of service penetration in critical areas in the financial ecosystem is still very low.

“We continue to see significant opportunity and some will choose to call it gaps in the area of digital payments, cross border payments, insurance investment and wealth management and E commerce,” he said.

He identified these as key opportunities for development and co-creation.

"Our ambition for the next decade is to provide financial freedom for every Ghanaian by empowering them to access a wide range of financial services," Haruna stated.

He envisioned a future where even a taxi driver with a smartphone could trade shares and engage in advanced financial services within the next five to ten years.

Haruna concluded by expressing appreciation for the partnerships MTN MoMo has established and looked forward to even stronger collaborations in the future.

"We value the partnerships we have with you and can only look forward to an even stronger partnership in the future," he said.

ID/MA

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