FirstBank Ghana, Mobile Money Fintech LTD (MMFL) and Optasia have unveiled FirstCredit Merchant Loan, a digital credit product aimed at mobile money merchants, informal traders and small businesses across the country. The loan offers fast, collateral‑free access to short‑term working capital, with approvals and disbursements handled entirely through the MTN MoMo platform.
Under the partnership, FirstBank Ghana supplies the lending, MMFL provides the MTN MoMo interface, and Optasia contributes AI‑powered credit‑decisioning that evaluates merchants based on their mobile money transaction volumes and payment flows. The technology eliminates the need for tangible collateral, allowing merchants to receive approved funds directly into their mobile money accounts.
Eligible merchants can use the loan to purchase inventory or bridge cash‑flow gaps. Repayment terms are displayed in full before acceptance, and borrowing limits may increase over time as transaction and repayment histories build a stronger credit profile. The three‑step application process—dialing *171#, selecting Financial Services, Loans, and then First Credit—lets merchants apply instantly via USSD.
Mr. Osahon Ogieva, Managing Director and CEO of FirstBank Ghana, said the product addresses a long‑standing gap for daily‑cash‑flow businesses that lack fixed assets. “Our mobile money transaction history helps us assess financing needs and repayment capacity, so we can put working capital in their hands quickly and conveniently,” he explained.
Shaibu Haruna, CEO of MMFL, added that the partnership demonstrates how platform businesses can deliver practical financial solutions. “We will continue to work with partners to deliver solutions that help customers strengthen their financial health and build resilient, growing businesses,” he said.
Optasia’s Group CEO, Salvador Anglada, highlighted the opportunity to build services around real business activity. “By combining our intelligence with FirstBank Ghana’s lending expertise and MMFL’s reach, we can make credit more responsive to business activity while maintaining discipline in how it is assessed,” he noted.
The launch is expected to support merchants in keeping their trade running, replenishing stock and seizing growth opportunities through a familiar digital channel.
