MOMO FinTech Lab backs young innovators in northern Ghana

MOMO FinTech, a FinTech company, is investing in young innovators from northern Ghana to develop technology-driven solutions for local challenges. The company has selected four top-performing teams from the northern zone to participate in the National Demo Day in Accra, where they will receive mentorship to refine their projects before presenting them to investors and stakeholders.

The initiative, called the MOMO FinTech Lab, aims to identify promising young innovators, equip them with practical skills, and support them in developing solutions to improve livelihoods in their communities. Shaibu Haruna, MOMO FinTech's Chief Executive Officer, revealed that the company observed a concentration of FinTech businesses in Accra, despite the presence of talented young people across the country.

The company introduced the initiative to create opportunities for young people to develop ideas addressing local needs and compete nationally and internationally. The competition received over 1,000 entries nationwide, with 14% originating from northern Ghana. Northern zone participants underwent four days of practical testing, market research, and technical guidance.

The company is hopeful that the program will lead to partnerships and investment, enabling selected innovators to turn their ideas into market-ready solutions. Participants will also have opportunities to undertake internships with organizations to deepen their technical knowledge and gain practical work experience.