Accra, Ghana//-The Chief Executive Officer of MobileMoney Fintech LTD, Shaibu Haruna, today advised fintech operators in the country to move beyond growth metrics and focus on building transparent, accountable, and user-centric platforms.
According to him, his colleague fintech operators should not see speed as a competitive advantage, but trust must be their licence to operate.
Mr Haruna gave the advice when he spoke on the topic: ‘The Next Frontier: Shaping Africa’s Integrated FinTech Future’ at the 3i Africa Summit 2026 underway in Accra.
The industry, he demanded must prioritise clear disclosure of loan terms, fair pricing models, and accessible dispute resolution systems to protect consumers especially first-time borrowers who are most vulnerable to misunderstanding digital credit products.
While the regulators and industry players must work more closely to establish consistent standards across jurisdictions, ensuring that innovation does not outpace oversight.
Mr Haruna used the occasion to underscore the importance of strengthening financial literacy, noting that informed users are vital to sustaining confidence and stability in the fintech ecosystem.
He also called on fintech stakeholders to take immediate action within the next three months to introduce key reforms aimed at strengthening consumer protection on digital lending platforms across the African continent.
The CEO mentioned that key priority areas include transparent and simplified pricing structures, improved borrower education, ethical use of customer data, and the establishment of efficient dispute resolution mechanisms to address customer concerns promptly.
He was quick to add that delays in taking decisive action can erode public trust in digital financial services and ultimately slow the pace of Africa’s fintech revolution.
MobileMoney Fintech LTD, as part of efforts to deepen consumer awareness, has rolled out a responsible borrowing campaign aimed at strengthening financial literacy and promoting disciplined repayment behaviour among users of digital credit services.
The innovative initiative is focused on helping customers better understand loan terms, interest rates, repayment obligations, and the long-term implications of default, as the company seeks to encourage more informed and responsible use of credit.
“We are reminding customers that it is good to borrow and repay. But it is not acceptable to borrow and default,” he reminded consumers of fintech services.
The CEO, however, disclosed that repayment data across digital lending platforms has shown steady improvement in recent years. This is supported by enhanced data analytics and artificial intelligence-powered credit scoring systems, he stated.
These systems are helping lenders better assess risk, reduce default rates, and expand credit responsibly to previously underserved populations.
“Most customers do repay. We are seeing improved non-performing loan ratios year after year because of better data and more sophisticated risk modelling.”
Mr Haruna, therefore, warned that reliance on algorithm-driven lending must still be guided by strong ethical and regulatory oversight to prevent unintended exclusion or unfair lending practices.
Calling for simplified loan pricing structures, clearer disclosure requirements, and stronger enforcement of consumer rights across digital lending platforms.
He also advised borrowers to adopt more responsible financial behaviour, saying that repayment discipline is essential to maintaining affordable credit across the system.
“Borrowing is not the problem. The issue is how borrowing is used. When credit is used productively, it drives growth and repayment improves. When it is misused, the cost of credit rises for everyone.”
The future sustainability of fintech, he noted, would hinge on strong regulators and operators striking the right balance between innovation and accountability.
Mr Haruna pointed out that Africa’s digital credit ecosystem is gradually moving into a new phase of rapid growth, fueled by artificial intelligence, rising mobile penetration, and data-driven lending models that can approve loans in just seconds.
“In the time it takes to complete a sentence, thousands of loans can be approved across cities like Accra, Nairobi, or Dar es Salaam,” he said. “But the real question is whether borrowers fully understand what they are signing up for: the interest rates, penalties, repayment timelines, and consequences of default.”
