Fintech and mobile money services expand across Ghana and Nigeria

In Ghana, Buy Now, Pay Later (BNPL) schemes are expanding smartphone access in Accra. Due to high costs where entry-level devices can equal a large portion of monthly wages, companies like MTN Ghana are utilizing mobile money (MoMo) to offer financing. MTN’s ‘Pick and Pay Later’ program, in partnership with Access Bank Ghana PLC and others, allows customers to pay a deposit and settle the balance over four to six months. The service includes insurance and data benefits, though devices are locked if payments are missed.

In Nigeria, MoMo Payment Service Bank (MoMo PSB), a fintech subsidiary of MTN Nigeria, has appointed Bode Abifarin as Managing Director and Chief Executive Officer. Effective September 1, 2026, Abifarin brings over 23 years of experience, including a previous role as Chief Operating Officer at Flutterwave, to lead the institution’s digital financial services and efforts toward financial inclusion.