Fidelity Bank, 2 others to boost financial inclusion
In a significant step towards expanding access to credit and deepening financial inclusion in Ghana, Fidelity Bank Ghana, in partnership with MobileMoney LTD and JUMO, a leading banking technology company, has officially launched BoseaLoan, a fast, flexible and inclusive mobile loan product.
The tripartite partnership brings together the capital of a leading Ghanaian bank, the reach of a trusted mobile money platform, and the innovation of a global fintech enabler to deliver impactful digital financial solutions to Ghanaians, particularly those historically excluded from formal credit systems.
Available exclusively to MoMo from MTN customers, the BoseaLoan is a short-term loan product that provides quick access to credit through mobile phones, allowing customers to borrow based on their financial activity and eligibility.
The loan, which is funded by Fidelity Bank Ghana, is delivered through a collaboration with MobileMoney LTD, which serves as the distribution channel, and JUMO, whose AI-driven banking technology enables seamless credit scoring, disbursement, and repayment processes.
The BoseaLoan is designed to support micro and small businesses, traders, and everyday consumers who often find themselves underserved by traditional financial systems due to stringent collateral requirements or limited financial histories.
Potential
Speaking at the launch in Accra, the Managing Director of Fidelity Bank Ghana, Julian Opuni, emphasised the transformative potential of the newly introduced BoseaLoan product, as part of the bank's long-standing commitment to inclusive finance.
He said as the largest privately owned Ghanaian bank, the introduction of BoseaLoan reflected a broader vision of economic empowerment through inclusive finance – a commitment it had historically championed.
He said the product did not only simplify access to formal credit but also lowered barriers to entry for underserved group, particularly women, youth, and micro-entrepreneurs — by delivering loans directly via mobile devices in real-time.
"After a decade of pioneering financial inclusion in Ghana, we aim to empower millions more, fostering economic growth and stability across the nation,” Mr Opuni stated.
Mobile finance
From the mobile finance perspective, the Chief Executive Officer (CEO) of MobileMoney LTD, Shaibu Haruna, highlighted the strategic significance of the partnership.
He said the launch of BoseaLoan was a key step towards making MoMo from MTN the leading digital platform for inclusive financial and digital solutions across Africa.
That collaboration, he said, went beyond expanding access to credit, representing MoMo’s commitment to building an inclusive financial ecosystem that supported economic empowerment and sustainable growth.
For his part, the Chief Payments Partnerships at JUMO, Bradwin Roper, said: “Our technology radically lowers the cost of delivering and managing financial services, which enables banks and mobile money operators to provide high-value, low-cost products to customers who have been excluded from financial opportunities for too long.
“It is an honour to partner Fidelity Bank and MoMo from MTN on this mission. Together, we are creating smarter ways to deliver credit at scale. BoseaLoan is built on deep data science, customer understanding, and a shared ambition to build resilience and economic opportunity from the ground up,” he said.