Ghana is ranked number 1 globally for mobile-money regulation on the GSMA Mobile Money Regulatory Index, and according to multiple local reports (including CitiNewsroom and BusinessGhana), recently achieved a 96% rate of financial-service access inclusion, surpassing its national target of 85%. JUMO’s Country Manager, Nana Yaa Mensah, unpacks how fintech is fast-tracking Ghana’s mission to build a truly inclusive financial system.

I recently came across an article that perfectly captures Ghana’s digital finance journey. Digital payments in Ghana have grown more than 11 000 times over the past decade, with mobile money emerging as a powerful engine of economic growth.

Mobile money platforms such as MTN MoMo, Vodafone Cash, and AirtelTigo Money have transformed how people send, receive, and manage money. According to a report released by the Bank of Ghana’s  Fintech Sector / Payment Systems Oversight reporting documents, by late 2023, mobile-money accounts had surpassed 65 million, with transaction values exceeding GH¢ 1.9 trillion. By 2024, the total value of mobile-money transactions reached GH¢ 3.019 trillion, marking almost 58% year-on-year growth. Fintechs platforms processed GH¢ 576 billion in the first quarter of 2024 alone, showing how deeply digital payments are embedded in daily life.

For Ghanaians, this revolution goes beyond convenience. It represents empowerment, the ability to store money securely, build a transaction history, and access new opportunities.

Fintechs like JUMO have played a crucial role in making financial services not only inclusive but also affordable. By leveraging mobile and internet-based platforms, fintechs deliver banking-grade services directly to consumers, no physical branches required. This approach has been transformative, especially in rural areas with limited traditional financial infrastructure.

JUMO in Ghana

For us at JUMO, this is more than a technology play, it’s about using artificial intelligence as a force for good. We connect mobile network operators and banks through our AI-led banking infrastructure, enabling individuals and small businesses to access savings and credit products in real time.

Our real-time lending infrastructure is powered by an AI prediction engine that analyses transactional behaviour on mobile wallets. With over 15,000 predictive features and hundreds of trained AI models, our system helps financial partners assess creditworthiness with greater accuracy. This means even people without collateral or a credit history can qualify for loans, build a financial identity and strengthen their financial security.

By combining cutting-edge AI with robust information management, JUMO delivers tailored experiences for customers, trusted automation for banks, and stronger risk management for funders, growing financial inclusion while ensuring quality, compliance and trust across the ecosystem.

Since entering Ghana, JUMO has served around 9.6 million customers and disbursed over 128 million loans. Small business owners use these solutions to stabilise cash flow, invest in inventory, and grow their livelihoods. Beyond access, JUMO embeds financial-literacy tools in its customer journeys, helping users manage money wisely and encouraging informed financial behaviour.

A strong framework for success

Ghana’s fintech success rests on a robust regulatory framework. The Bank of Ghana’s fintech and Innovation Office and the Payment Systems and Services Act (2019) have created an environment that balances innovation with consumer protection. The results speak for themselves: Ghana ranked first worldwide in the 2024 GSMA Mobile Money Regulatory Index, scoring 95.06%.

The introduction of full interoperability between mobile-money wallets and bank accounts has also been a game-changer, enabling seamless transfers across providers and making financial inclusion more practical than ever.

Conclusion

Ghana’s fintech story is one of progress, partnership, and purpose. Companies like JUMO demonstrate how technology can unlock access, affordability, and empowerment at scale. As mobile connectivity deepens and digital literacy grows, the opportunity to expand meaningful financial inclusion, not just access, becomes even greater.

In Ghana, fintech isn’t just reshaping banking, it’s redefining what financial empowerment looks like for millions and setting the standard for the rest of Africa to follow.