Accra: The Managing Director of Telecel Cash and Digital Transformation, Philip Amoateng, has highlighted the challenges posed by fragmented financial data systems as a significant barrier to expanding responsible digital credit access across Ghana.
According to Ghana Web, Amoateng addressed the issue during the 3i Africa Summit 2026 roundtable on 'Designing a Consumer Centric Digital Credit and Banking Ecosystem.' He emphasized the need for creating and regulating interoperability frameworks that would allow banks, telecom operators, and fintech firms to share data, thereby improving credit decision-making. Amoateng stated, "The biggest challenge with the credit system is that data is fragmented in the financial sector. Banks have theirs, and telcos have theirs. We need regulation on data interoperability to help us get a clearer picture and support the credit needs of customers."
Ghana has rapidly become one of Africa's leading digital payment markets, with mobile money transactions reaching GHS4.5 trillion in 2025. However, many consumers who frequently use multiple financial platforms still lack formal credit visibility. Amoateng suggested that broader access to both traditional and alternative data could help lenders make more accurate assessments of customers, especially informal workers and first-time borrowers who often find themselves excluded from conventional banking systems. He also advocated for individuals to take charge of their financial health by being aware of their credit ratings.
Amoateng elaborated, "If we have a data pool of traditional and alternative data to include financial and non-financial information, there will be a credit transparency system so people can access their credit information, know their credit standing, and make informed decisions." At Telecel Ghana, the history of telecom and mobile money activity is already utilized as part of alternative credit assessments, supporting lending to mobile money agents, individuals, and small businesses.
Industry leaders participating in the summit argued that interoperable data systems could enhance risk management, reduce duplication across lenders, and expand access to underserved populations without significantly increasing default risks. The roundtable featured representatives from several organizations, including the Bank of Ghana, the Ministry of Finance, Women's World Banking, Fido, Affinity Ghana, Universal Pensions, and the Ghana Chamber of Telecommunications. Peter McConaghy, a policy advisor on inclusive finance and financial health at the UN, moderated the discussion.
The 3i Africa Summit, a prominent 3-day conference, is organized by the Bank of Ghana, Ghana Interbank Payment and Settlement Systems, and the Monetary Authority of Singapore through the Global Finance and Technology Network. This year's summit is themed 'The Next Frontier: Shaping Africa's Integrated FinTech Future.' It aims to foster collaboration among governments, regulators, fintech companies, investors, and telecom operators to shape the future of Africa's integrated digital finance ecosystem, focusing on innovation, investment, and impact.