The Chief Executive Officer of MTN MobileMoney Fintech Limited, Mr. Shaibu Haruna, has disclosed the rationale behind the establishment of MoMo Fintech Lab is aimed at discovering promising innovators across the country and help them to turn ideas into practical solutions.
He noted that the initiative is more than just a competition, stating it is a platform for learning, collaboration and enterprise development – one that brings together industry, the regulator, financial institutions, technology partners, academia, mentors and innovation communities around a shared purpose.
Mr. Haruna in an address during the Zonal Pitch Competition in Tamale last Friday, October 23, 2026, disclosed that a total of 1,791 applications were received from students, developers, entrepreneurs and early-stage founders across all 16 regions of Ghana.
Out of the number, 249 applicants selected Tamale as their preferred hub, and 20 teams progressed to the Northern Zone bootcamp.
The CEO further observed that the level of interest sends a powerful message and commitment that young people are ready to shape the future of finance in the country.
“We were especially encouraged to see many submissions focused on agricultural technology. That is not accidental. It reflects innovators paying attention to the realities around them and asking how technology and finance can serve farmers, processors, aggregators, traders and communities across the agricultural value chain.
“What many need is the right platform, practical guidance and the confidence to move from an idea to a solution that can improve lives” he said.
He argued that the country needs innovative solutions grounded in local experience, informed by research and designed around real users.
According to him, a strong solution does not begin with technology; it begins with a clear understanding of the problem.
“So, I encourage you to go into communities, speak with the people you want to serve, test your assumptions, and let evidence shape what you build” he admonished.
Meanwhile, the strongest four solutions from this zone are expected to progress to the national stage, joining finalists from Kumasi and Accra as part of the final twelve.
The Chief Executive in his remarks said those who submitted their ideas but couldn’t progress to this stage must not give up, saying the selection for a bootcamp is not the only measure of an idea’s potential.
He intimated that in innovation, persistence is often the difference between an idea that stops and one that eventually changes lives, reiterating the need for them to take the feedback, study the market more deeply, strengthen their teams, refine the solution, and return better prepared.
“For us at MobileMoney Fintech LTD, supporting young innovators is an investment in Ghana’s future. We want to help build a pipeline of entrepreneurs who can create businesses, generate jobs and expand access to useful financial services” he assured.
He stated the objective is to see stronger innovation communities outside Accra – communities with the confidence, partnerships and visibility to develop solutions for their own markets and, ultimately, for the world.
