UNCDF and Fido Partner to Scale Digital Finance for Women and Youth-Led MSMEs in Ghana

The United Nations Capital Development Fund (UNCDF) and Fido Micro Credit Limited have signed a performance-based partnership agreement to scale digital financial services for micro, small and medium-sized enterprises (MSMEs), with a deliberate focus on women and young entrepreneurs and businesses in underserved regions of Ghana.

The agreement, signed in Accra on 14 August, today 1 September launches the scale-up phase of Fido Biz, a digital lending product, developed by Fido and enhanced under the Joint SDG Fund Programme on Leveraging Digital Ecosystems for Increased MSME Productivity.

The programme is implemented by UNCDF, the United Nations Development Programme (UNDP) and the United Nations Conference on Trade and Development (UNCTAD), in collaboration with the Ministry of Trade, Agribusiness and Industry.

The partnership builds on work initiated in 2025, when Fido was selected as one of five financial service providers to develop digital financial solutions tailored to the needs of underserved MSMEs in Ghana. With technical support from UNCDF, Fido conducted research with business owners across the Northern, Ashanti, Greater Accra and Western regions. Findings from the research informed the design and testing of a digital lending product that responds to the financing needs of women- and youth-led enterprises.

The solution was showcased in July 2026 during an MSMEs Day stakeholders’ roundtable in Accra, where five market-ready digital financial products developed through the programme were presented to donors, investors and financial service providers. Following this process, Fido was selected as one of two providers to advance to the programme’s scale-up phase.

From Digital Innovation to Scale

Under the agreement, Fido will expand the enhanced Fido Biz product through July 2027, and roll out an enhanced version of the Fido Academy increasing access to finance for micro and small enterprises that often face barriers to obtaining credit through conventional lending channels while ensuring financial literacy reaches the intended target groups.

A key feature of the product is its use of digital transaction data to assess creditworthiness, reducing reliance on collateral and formal financial records. This approach addresses a longstanding challenge faced by many MSMEs in Ghana: viable businesses frequently struggle to access financing because they lack the documentation or assets typically required by traditional lenders.

By leveraging digital transaction histories to build financial profiles, the initiative seeks to broaden access to credit based on actual business activity. The scale-up will place particular emphasis on northern Ghana, where access to formal financial services remains limited.

Through the partnership, the programme aims to reach 15,655 women- and youth-led MSMEs with digital financial services, including 7,828 women and 10,176 young people. An estimated 12,500 MSMEs are expected to access savings and loan products, while approximately GHS 10.6 million in capital is projected to be catalysed.

Building an Integrated Digital Ecosystem for MSMEs

The partnership forms part of a broader Joint Programme designed to address MSME financing and productivity challenges through three interconnected pillars: policy, platform and finance.

At the policy level, the programme supports implementation of Ghana’s National E-commerce Strategy. At the platform level, it leverages the government-owned MSME Digital Gateway, launched nationally in June 2026. The finance component, led by UNCDF, focuses on expanding access to digital financial products for underserved MSMEs, particularly those led by women and young entrepreneurs.

The collaboration with Fido demonstrates how these elements can work together to move innovative financial solutions from pilot testing to large-scale implementation. By improving access to appropriate financial services, the initiative aims to help MSMEs invest, grow their operations, create jobs and contribute to local economic development.

The agreement represents an important step in advancing inclusive digital finance in Ghana, demonstrating that serving underserved MSMEs can be both commercially viable and a driver of sustainable and inclusive economic growth.