Four innovative teams have secured qualification for the national grand finale of the MoMo Fintech Lab competition after emerging as the top performers at the Middle Belt Zonal Hackathon and Pitching Event held at the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi.
The four teams, Welfare Hub, Susu Vault, EaziPay and Merchant ShiftBook, distinguished themselves through their innovative technology-driven solutions aimed at addressing challenges within Ghana’s financial services sector.
Welfare Hub, led by Mohammed Salifu, emerged as the overall winner of the five-day competition, which took place from October 26 to 30, 2026, at the Impact Building of KNUST.
Susu Vault, led by Jeffrey Owusu Peprah, secured the first runner-up position, while EaziPay, represented by Fosu Boateng Klinsman and his team, placed second runner-up.
Merchant ShiftBook, led by Alberta Kissiwaa, completed the list of four successful teams that will represent the Middle Belt Zone at the national grand finale in Accra.
The four teams will join other successful contestants from the remaining zonal competitions to battle for national recognition and opportunities to advance their respective fintech innovations.
Three other teams that participated in the competition were Athena Techne, led by Sackey Melchizedek; Quebe, led by Atta Junior Agyapong; and Famek Campus, led by Prince Charles Appiah Gyamrah.
The competition brought together young Ghanaian innovators, entrepreneurs and technology enthusiasts to develop, refine and present practical solutions capable of transforming the country’s financial technology landscape.
1,791 APPLICATIONS
Addressing participants at the event, the Chief Legal, Regulatory Affairs and Reputation Management Officer of MobileMoney Fintech Limited (MMFL), Paapa Osei, said the MoMo Fintech Lab was designed to identify, nurture and empower young talents with the potential to transform innovative ideas into viable and sustainable businesses.
He explained that the initiative went beyond a conventional innovation competition, providing a structured platform through which emerging entrepreneurs could access mentorship, industry partnerships and business development support.
According to him, the ultimate objective was to help participants translate their ideas into practical solutions that respond to the everyday financial and business challenges confronting individuals, traders and corporate institutions.
Mr Osei disclosed that the nationwide initiative had attracted an impressive 1,791 applications from all 16 regions of Ghana, an indication of the growing interest among young people in financial technology, digital innovation and entrepreneurship.
He said the Kumasi hub alone received 415 applications, out of which 19 qualifying entries were shortlisted following a rigorous assessment process.
The successful applicants subsequently participated in the zonal hackathon, where they were given the opportunity to develop their concepts, receive guidance and pitch their solutions before an assessment panel.
SMEs, MERCHANTS IN FOCUS
Mr Osei noted that a significant number of the innovations presented during the Middle Belt competition focused on addressing challenges confronting small and medium-sized enterprises (SMEs) and merchants.
He said the solutions demonstrated the potential of technology to improve business operations, facilitate digital payments, strengthen financial management and create opportunities for business expansion.
He urged the contestants to ensure that their innovations were driven by genuine customer needs rather than the desire to showcase sophisticated technological capabilities.
According to him, the sustainability of any fintech product would largely depend on its ability to address real-life problems, deliver convenience and provide measurable value to its intended users.
He encouraged the young innovators to engage prospective customers, understand their challenges and continuously improve their products based on feedback from the market.
TRUST KEY TO FINTECH SUCCESS
The MMFL executive also emphasised the importance of trust, security and regulatory compliance in the development of sustainable financial technology businesses.
He cautioned that innovations within the financial services industry must be built around strong data protection systems, fraud prevention mechanisms, transparent pricing structures and appropriate security measures.
He explained that customer confidence remained critical to the adoption and long-term success of digital financial solutions.
“In fintech, trust is not an extra feature. It is the foundation,” he stressed.
Mr Osei further encouraged participants to embrace collaboration, explaining that building successful fintech enterprises required more than technical expertise.
He said entrepreneurs needed to combine technological knowledge with business management, marketing, customer relations and an understanding of the regulatory environment.
He noted that partnerships among innovators, financial institutions, regulators and other industry stakeholders would be essential in helping promising businesses overcome operational challenges and achieve sustainable growth.
CONTESTANTS URGED NOT TO GIVE UP
The Chief Legal, Regulatory Affairs and Reputation Management Officer also had words of encouragement for contestants who failed to secure qualification for the national grand finale.
He urged them not to interpret their inability to progress in the competition as the end of their entrepreneurial journey.
Rather, he encouraged them to remain committed to developing their ideas, improve their products and explore other opportunities to bring their innovations to the marketplace.
He called on universities, industry professionals, mentors and the media to play active roles in supporting emerging entrepreneurs through technical guidance, exposure, networking opportunities and business development assistance.
BUILDING GHANA’S FINTECH ECOSYSTEM
Mr Osei said the broader vision of the MoMo Fintech Lab was to strengthen Ghana’s innovation ecosystem by identifying and supporting young entrepreneurs capable of developing sustainable businesses within the financial technology industry.
He explained that the programme was expected to contribute to job creation, improve access to financial services and promote the development of home-grown technological solutions to address the country’s financial and commercial needs.
He added that MobileMoney Fintech Limited remained committed to facilitating mentorship, industry connections and business development opportunities to help promising entrepreneurs transition from the conceptual stage to commercially viable enterprises.
The Kumasi hackathon forms part of the nationwide MoMo Fintech Lab initiative being implemented by MobileMoney Fintech Limited to discover, mentor and support young Ghanaian innovators with technology-based solutions for the financial services sector.
The forthcoming national grand finale in Accra is expected to bring together the outstanding teams from the various zonal competitions, providing them with a national platform to showcase their innovations, compete for recognition and explore opportunities for further growth.
The initiative is also expected to deepen collaboration between the financial technology industry and Ghana’s growing community of young entrepreneurs, while positioning innovation as an important driver of financial inclusion and economic development.
