Mobile Money Fintech LTD and UMB Bank wrapped up their financial literacy and capacity-building workshop for Ghana Hairdressers and Beauticians Association members at the University of Ghana, Accra. This session was the third in a series targeting Micro, Small and Medium Enterprises (MSMEs) across the country.
The programme began earlier this year with workshops in Kumasi and Takoradi, focusing initially on tailors and dressmakers, then market women, before turning to hairdressers and beauticians. Charles Osei Owusu, Senior Manager for Business Development at Mobile Money Fintech LTD, said the initiative targets informal sector players who drive Ghana’s economy but often lack formal business support. “We are here once again to run the financial literacy and capacity-building programme. This is the last of three workshops,” he said.
The training covered customer service, financial literacy, and digital tools. Participants learned how to use mobile money channels to access financial services, a move aimed at improving efficiency and broadening financial inclusion. Owusu stressed that the programme is not a one-off event. The company has collected participant details and plans continued engagement and monitoring to ensure the training translates into tangible business growth. “We expect participants to leave better equipped to manage and grow their businesses. We do not intend to finish the training and leave them on their own,” he said.
Mobile Money Fintech LTD took charge of the customer service component, while UMB Bank handled financial literacy training. Participants also received souvenirs and support materials. Owusu thanked beneficiary associations, company staff, partners, and media for their support.
He highlighted the economic impact of empowering MSMEs, particularly those led by women. “We recognise that MSMEs, particularly women-led businesses, are a key part of the economy. By supporting their growth, we believe the benefits will extend to other sectors, including our organisation and partners,” he said. Plans are underway to expand collaborations with other MSME groups across Ghana. “This year, we organised three workshops in Kumasi, Takoradi and Accra. We have also partnered with other groups on similar activities in the northern part of the country. These engagements will continue,” Owusu added.
The programme reflects Mobile Money Fintech LTD’s wider goal of using mobile money to support enterprise development and financial inclusion in Ghana’s informal economy.
Edem Knight Tay, Head of Corporate Communication at UMB Bank, said many hairdressers and beauticians already operate profitable businesses but need support to scale. “We want to help them take their businesses a step further,” she said. UMB’s financial literacy training includes guidance on account management, wealth building and creating a lasting business legacy. “For these hairdressers and beauticians, the question is how they can turn their skills into wealth and build businesses that will last,” Knight Tay said.
She described UMB’s approach as relationship banking, helping clients open accounts, transact, and grow with the bank’s products throughout their business journey. She also announced UMB’s solar loan product, designed to address power challenges faced by beauty sector businesses. Eligible applicants can receive financing within 48 hours, with a technical partner supplying and installing the solar system. “These systems can help customers reduce their electricity bills by up to about 90 per cent,” Knight Tay said. She added the loan would reduce beauticians’ dependence on generators and improve business reliability.
The hairdressers’ workshop closed a series of three regional sessions this year, with organisers signalling ongoing efforts to support MSMEs beyond these events.
According to Joy Online.
