MOMO FinTech Lab backs young innovators in northern Ghana

Young innovators in northern Ghana are getting an opportunity to turn ideas into technology-driven solutions to local challenges, as MOMO FinTech steps up efforts to nurture talent beyond Accra and develop the next generation of financial technology entrepreneurs. Four top-performing teams from the northern zone have secured places at the National Demo Day in Accra, where they will be paired with mentors to refine their projects before presenting them to investors and other stakeholders.

The initiative, known as the MOMO FinTech Lab, seeks to identify promising young innovators, equip them with practical skills and support them to develop solutions that can improve livelihoods in their communities. Speaking to the media after the hackathon in Tamale, the Chief Executive Officer of MOMO FinTech, Shaibu Haruna, said the initiative was introduced after the company observed that FinTech businesses were largely concentrated in Accra, despite the availability of talented young people across the country.

He said the company wanted to create opportunities for young people to develop ideas that addressed local needs and had the potential to compete on the national and international stages. “We took it upon ourselves to say there are so many talented young men and women across the length and breadth of Ghana who have great ideas and who can be groomed to solve for their local needs,” he said.

Mr Haruna disclosed that the competition had attracted more than 1,000 entries nationwide, with submissions from northern Ghana accounting for 14 per cent of the total. Participants in the northern zone spent four days working with experts to refine their ideas through practical testing, market research and technical guidance. He said the company was impressed by the effort participants had put into developing solutions aimed at tackling everyday problems and improving the livelihoods of ordinary people.

The programme is also expected to open up opportunities for partnerships and investment to help promising innovators turn their ideas into practical, market-ready solutions. Mr Haruna added that selected participants would have opportunities to undertake internships with organisations to deepen their technical knowledge and gain practical work experience.

He encouraged young people, particularly those in northern Ghana, to believe in their ideas, develop them carefully and take advantage of available opportunities to advance their innovations. “I encourage all young people who have ideas across the length and breadth of Ghana, especially in the northern sector of Ghana, to be bold about their ideas, to think through them, and then take advantage of some of these opportunities,” he said.

Mr Haruna described the programme as a talent-development initiative that would require sustained support to help participants improve their ideas and build viable solutions. Contestants look ahead Meanwhile, members of the four selected teams said their qualification for the national showcase was an important milestone after days of competition and project development.

The Team Lead of Team MoMoCovert, Lukman Seidu, said the competition had been demanding but expressed excitement about the team’s success. “It’s been a tough competition but we are excited that we have been able to make it out which means a lot to us,” he said.