MobileMoney Fintech Limited (MMFL), the fintech subsidiary of MTN Ghana, is stepping up efforts to develop young fintech talent beyond Accra, with 12 teams competing in the Northern Zonal Hackathon of its MoMo Fintech Lab and Pitch Competition in Tamale.
The initiative seeks to identify promising innovators across the country and help them turn local ideas into commercially viable solutions that can be scaled nationally and internationally.
Chief Executive Officer of MMFL, Shaibu Haruna, said the programme was conceived after the company discovered that fintech organisations were largely concentrated in Accra, limiting opportunities to harness talent in other parts of the country.
“We wanted to ensure that the great talent across the length and breadth of Ghana could be tapped to solve problems relevant to local economies,” he said.
Speaking at the competition held at the University for Development Studies (UDS) central campus on Friday, October 23, Mr Haruna said the initiative attracted approximately 1,791 applications from across Ghana’s 16 regions, with 249 coming from the Northern Zone.
Twenty teams initially advanced to the northern zonal stage, where participants received training to refine their ideas, conduct market research and develop practical solutions. Twelve teams featured in the competition.
The twelve competing teams were MoMo Covert, Payitbetta, MoMoneyo, Adaashi, L3XI, BPOS Paysync, CropVault, MoMo Susu Circle, Harvest Gold, My Pesewas Health, Credipay and MoMoBiz. Team members received a certificate each and souvenirs.
The MoMo Covert team, comprising Lukman Seidu and Fatimatu Abubakari, emerged as the overall winner. Payitbetta, represented by Fakii Ajaansuma Tagra Shaida, Seidu Cyril Caleb and Ahmed Fatogma Yakubu, placed second, while MoMoneyo, represented by Osei-Sekyere Love-God, finished third. Each team received cash prizes in addition to certificates and souvenirs.
Mr Haruna said the programme was designed to move participants beyond conceptual ideas towards products that could attract investment and reach the market.
“Many people have ideas, but those ideas often remain just that,” he said. “This programme is intended to help participants transform their ideas into viable, bankable products that solve real problems and can be scaled up.”
He stressed that successful fintech innovation required more than technological expertise, urging participants to understand customer needs, build effective teams and consider regulatory and compliance requirements from the outset.
“A strong solution does not begin with technology. It begins with a clear understanding of the problem,” he said.
The four top contestants from the northern competition are expected to proceed to the National Demo Day in Accra, where they will receive mentorship to strengthen their solutions before presenting them to a wider audience.
Mr Haruna said the national showcase would also create opportunities for investors and industry stakeholders to identify potential partnerships to advance promising ideas. Some participants could also benefit from internship opportunities to strengthen their professional skills.
He acknowledged that participants’ skills remained at a foundational level but said the company viewed the programme as a starting point for sustained talent development.
The MoMo Covert team said extensive research, analysis and consultations had helped prepare them for the competition.
“We are going to put up a strong fight. Hopefully, we will emerge victorious again,” Mr Seidu said of the team’s prospects at the national competition.
Mr Haruna encouraged young people, particularly those in northern Ghana, to develop solutions to problems in their communities, including challenges relating to agriculture and savings.
He said MMFL would build on the inaugural programme and explore ways to improve and expand the initiative, with the broader goal of creating opportunities for young entrepreneurs beyond the country’s major cities.
Source: www.kumasimail.com
