Mobile Money Fintech LTD, partners launch " Wo Nkɔsoɔ" to empower artisans
A project to provide specialised financial training and technical support to small-scale entrepreneurs has been launched in Kumasi.
The initiative dubbed “Wo Nkɔsoɔ” (Your Progress), specifically designed to improve the informal sector, was initiated by Mobile Money Fintech LTD in collaboration with Universal Merchant Bank (UMB) and Kola Market, an Artificial Intelligence-focused firm.
The debut capacity-building workshop, held at the Garden House near the Great Hall, Kwame Nkrumah University of Science and Technology (KNUST), brought together a diverse group of stakeholders, including members of the Ghana National Tailors and Dressmakers Association (GNTDA).
The workshop will be replicated in Accra, Takoradi and Tamale, ensuring that entrepreneurs in major economic hubs are equipped with the tools necessary for 21st century commerce.
Financial literacy
Beneficiaries will include traders, dressmakers, hairdressers and smallholder farmers, among others.
Delivering the keynote address, a Senior Manager for Business Development at Mobile Money Fintech LTD, Charles Osei Owusu, highlighted a significant gap in how digital financial tools were perceived.
He noted that while mobile money was ubiquitous in Ghana, its utility was often underestimated, saying, "Many users view mobile money strictly as a vehicle for peer-to-peer transfers”.
He indicated that many entrepreneurs operated with strong skills and determination but without the business and financial tools that support sustainable growth, indicating that the programme was designed to close the gap and ensure practical access to financial tools that improve livelihoods.
He said the beneficiary trade groups were central to Ghana’s informal economy, creating jobs, delivering essential services and supporting households, stressing “Yet, they often have limited access to structured business support and financial services”.
“We are committed to collaborating with various partners to develop packages that will help SMEs grow their businesses with better financial management skills,” he said.
The Head of Corporate Communications at UMB Bank, Edem Knight-Tay, emphasised the bank's commitment to the "missing middle"—small businesses that often struggle to secure traditional credit.
She introduced the "SpeedUp" product, a tailored financial solution specifically engineered to help artisans and traders scale their operations through accessible capital and credit facilities.
Further, she underscored the importance of financial literacy training for the beneficiary artisans, saying, “It is necessary for them to know how to properly invest the money they make out of their creativity”.
In a remark, a representative of KOLA Market, Marie-Rene Seshie, said their mission was to equip female-owned businesses to make more sales profits and to build sustainable businesses.
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