LIST | A Look At 10 of the Leading Fintech Startups in Ghana

According to a local report, the West African nation is home to over 70 fintech companies operating in the challenging and highly regulated sector.

Map of Republic of Ghana through magnifying glass

Ghana has, over the past few years, established itself as one of the main countries for technology innovation on the continent.

According to a local report, the West African nation is home to over 70 fintech companies operating in the challenging and highly regulated sector.

The sector offerings include:

  • Online banking
  • Mobile payments
  • Peer-to-peer lending
  • Digital wallets, and
  • Financial management tools

 

Below, we take a look at 10 of the fintechs in Ghana and what makes them stand out.

 

1.) MTN Mobile Money (MoMo)

MTN Mobile Money is a subsidiary of leading telco MTN. Popularly referred to as MoMo, it is one of Ghana’s foremost Fintech platforms, providing consumers and businesses with seeral digital financial services, featuring:

  • Payments
  • e-commerce
  • insurance
  • lending
  • remittance services

The MTN Momo is reportedly the most widely used mobile payment app in Ghana, controlling about 89.3% of the mobile financial services (MFS) revenue in Ghana.

2.) ZeePay

ZeePay, one of Ghana’s fast-rising fintech companies, specializes in mobile money interoperability and international remittance.

The company boasts a presence in over 20 countries worldwide and specializes in facilitating the immediate settlement of remittances into mobile money wallets across Africa and the Caribbean, acting on behalf of prominent international money transfer organizations (IMTOs).

In 2023, ZeePay processed over 10 million remittance transactions, exceeding $3 billion in value.

3.) HubTel

Hubtel provides mobile payment, bulk SMS, and e-commerce solutions. Their POS platform allows businesses to accept mobile money, cards, and QR codes.

The fintech empowers numerous small and medium enterprises (SMEs) in Ghana by digitizing their payment processes.

4.) ExpressPay

Expresspay is one of Ghana’s prominent fintech providing utility payments, internet subscriptions, and airtime top-ups.

The fintech combines a user-friendly interface and an extensive agent network, making it a popular option for Ghanaians and expats seeking efficient payment solutions.

5.) Kowri

Kowri is a digital financial platform on a mission to empower the African middle class by providing them with easy access to financial services.

“Through cutting-edge technology and innovative solutions, we’re breaking down barriers and making secure banking, digital payments, real-time financial insights, and credit facilities readily available to individuals and families across Africa,” says Kowri.

6.) FinancePlus

Finance Plus is a fintech app by Cube Robotics, one of the licensed fintech companies in Ghana.

Finance Plus is a custom software building company with experts who assist credit unions, rural banks, and microfinance institutions in growing.

The company assists these financial entities with specialized software that enables them to reach out and provide financial services to their teeming number of customers.

7.) GhanaPay

GhanaPay is a payment app rolled out by Ghana Interbank Payment Settlement Systems Limited (GhIPSS).

GhIPSS is a wholly-owned subsidiary of the Bank of Ghana mandated to implement and manage interoperable payment system infrastructures for banks and nonbank financial institutions in Ghana. It is a mobile money service provided for universal banks, rural banks and savings and loans companies.

Ghanapay gives customers the opportunity to have a direct relationship with all of the banks and non-bank financial institutions in Ghana, as well as the ARB Apex bank.

8.) Chango

Chango is a crowdfunding platform rolled out by IT Consortium (ITC) one of Ghana’s largest B2B fintech companies.

Chango operates a mobile application made up of both private and public groups which brings people together based on agreed terms and conditions to raise funds.

The Chango app used is to donate to a cause or project by creating groups and raising funds.

9.) SlydePay

SlydePay was created by Dreamoval Limited and is powered by Stanbic Bank Ghana. Slydepay (formerly iWallet) is an all-in-one mobile application making mobile payments, airtime and internet data purchase easy in Ghana.

It is essentially a mobile wallet in Ghana that allows customers to pay bills, top up mobile phones, make money transfers and pay in-store via QR codes as well as online via emails.

One feature that puts slydepay ahead of some of the fintech apps in Ghana is its option that allows customers to make payments at retails shops via the app.

10.) PaySwitch

PaySwitch is one of the few fintech companies that allows businesses to accept payments via multiple channels, such as mobile money, cards (VISA and Mastercard), and other online platforms.

Payswitch combines cards management and issuing, digital banking, automated fare collections, eCommerce, agency banking and a host of other tailor-made solutions to suit the needs of the Ghanaian middle class and business community.

Payswitch prides itself as an enabler for a wide spectrum of users from startups to large organizations. A unique feature of payswitch is that it caters to the circulation of money and value between individuals (C2Cs), individuals and organizations (C2Bs), organizations and individuals (B2Cs) and between organizations (B2Bs).

 

 

 

 

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

________________________________________

________________________________________