MTN Ghana urges SMEs to safeguard digital accounts as fraud threatens small businesses

MTN Ghana has issued a stark warning to small and medium-sized enterprises across the country to protect their digital financial accounts as fraudsters increasingly target business owners unfamiliar with online security risks. The cautionary message comes as more SMEs migrate to digital platforms for transactions, payments and accessing financial services.

Speaking at an SME Capacity Building Programme in Sunyani organised in partnership with Graphic Business, Eric Antwi, Regional Sales Manager for MTN Business, Northern Business Unit, stressed that entrepreneurs must treat their personal identification numbers (PINs) as strictly confidential and never disclose them under any circumstances. He warned that fraudsters routinely send deceptive messages, suspicious codes and links designed to trick business owners into compromising their accounts.

"Your PIN is your unique identity. You need not disclose your PIN," Mr Antwi stated, adding that entrepreneurs should exercise extreme caution when receiving unsolicited requests for authentication codes, suspicious links, or calls claiming to be from MTN. "Do not involve yourself in any cartel that says, 'I have sent you a code; just include the code in your phone.' Security starts with you," he cautioned.

Digital tools transforming Ghanaian business landscape

The warning reflects a broader shift in how Ghanaian SMEs operate. As digital financial services—including mobile money platforms, business management tools and loan access systems—become integral to enterprise operations, the risk of fraud has simultaneously escalated. MTN Business used the training programme to introduce entrepreneurs to solutions designed specifically for small business growth, including Adwumapa, which provides tailored digital services for women entrepreneurs, and YellowBiz, enabling SMEs to establish online storefronts and websites.

Participants at the Sunyani event reported that the training equipped them with practical skills to streamline operations, enhance customer relations and strengthen internal teamwork. Ruth Afari Boakye, founder of Black Girl Natural Ventures, highlighted how understanding mobile money integration could support business expansion. "Most payments are digital, and MoMo is everywhere," she noted. Margaret Bansah, chief executive of Marjjbans Enterprise, emphasised the importance of building diverse teams capable of leveraging digital tools effectively, particularly in engaging younger workers.

Why this matters for Ghana's digital economy

Ghana's SME sector employs millions and contributes significantly to local economies, particularly in regions like Ashanti, Brong Ahafo and the Northern regions. However, many small business owners operate with limited formal training in digital security and financial management. As the country pushes toward digital transformation—a key pillar of the national development agenda—gaps in cybersecurity awareness pose real risks to enterprise continuity and growth.

The MTN-Graphic Business initiative addresses this vulnerability by combining security awareness with practical digital tools training. MTN identified five exceptional SMEs from the programme for ongoing mentorship, financial literacy coaching and further support. Benjamin Tsatsu Korsinah, Senior Zonal Business Manager for Graphic Communications Group Limited, expects the initiative to translate into measurable business growth while contributing to broader economic activity across regions. For participating media and telecom partners, thriving SMEs represent expanding opportunities for advertising, digital engagement and service provision.

As Ghana continues its digital transition, such collaborative efforts to educate entrepreneurs on both the opportunities and risks of digital platforms will be essential to building a resilient, secure and competitive small business ecosystem.