Ghana, one of the west African countries in African continent, may not rank among the top five markets when it comes to deals and investments in the start-up ecosystem for 2021. Certainly not in the category of its neighbour and rival, Nigeria.
However, the Gold Coast nation has some notable fintechs worth mentioning, and how they are steadily impacting upon the lives and businesses of its citizens.
1. Zeepay: A wholly Ghanaian-owned company founded eight years ago, it targets both the unbanked and banked populace with a goal to financially including the unbanked. Zeepay focuses on digital rails to connect digital assets such as cards, bank accounts, ATMs, mobile money wallets, money transfer operators, etc. Last year, it secured $7.9 million in a Series A round funding and intends to use the money to further expand beyond its current reach in 20 African markets.
2. appsNmobile Solutions: This dominant player in the payment solutions and technology space is another wholly owned Ghanaian fintech. Known for its several market-first payment solutions, the company came into existence in 2015 with software development as its core business before transitioning into a fintech. It raised one million dollars in the funding last year and the funds would help the business scale up significantly.
3. OZE: OZE is your business coach, right there in your pocket, bringing your African business into the digital era. It is a habit-forming, mobile app making it easy for SMEs to keep digital records, access capital and make better decisions. OZE raised $700, 000 seed funding last year to expand to the neighboring country, Nigeria, as well as grow its team.
4. Bezomoney: The three-year-old fintech builds and provides digital financial services and products for the unbanked and younger customers. It secured $200, 000 in a seed funding round in 2021 and will use it to acquire a license – Payment and Financial Technology Service Provides (PFTSP) – in Ghana, build and deploy new products, grow its user base, expand its team and scale across Ghana.
5. Mazzuma: Connecting the world through payments, remittances and blockchain, Mazzuma is a mobile payments ecosystem using blockchain and artificial intelligence to facilitate transactions. It is an international remittance and mobile money platform. In 2021, it raised $125, 000 in seed funding to expand its operations.