Kelvin Oduro Aboagye on Fintech Growth in Ghana, Mobile Money Limits and New Opportunities

In this interview, Kelvin Oduro Aboagye, CEO of Hackscience Technologies, shares his perspective on the evolution of the fintech industry in Ghana, highlighting both the rapid growth of digital payments and the structural challenges that still exist. He explains that the sector remains heavily centred on mobile money in Ghana, where most fintech companies depend on telecom providers to process transactions. This reliance often leads to payment downtime issues, which continue to affect the reliability of fintech solutions across the country.

Despite these constraints, Kelvin emphasises that the fintech market in Ghana is far from saturated. In fact, many small businesses still lack access to digital payment systems, creating strong opportunities for fintech adoption and growth. Areas such as payment gateways, USSD payment solutions, and API integration services are still expanding, offering room for innovation in both B2B and B2C fintech models.

At the centre of this ecosystem is Hackscience Technologies, a software development and cybersecurity company in Ghana that builds customised digital solutions for businesses. Its work spans from payment infrastructure and bulk communication platforms, such as SMS and email systems, to advanced cybersecurity services, including vulnerability assessments, penetration testing, and the securing of AI-generated applications.

Kelvin also explains how Hackscience connects with its sister companies to form a broader digital ecosystem. Bulkclix operates as a fintech platform providing payment solutions, APIs, and tools that support digital marketing operations, while Horlap Innovation Experience represents a different layer of innovation through robotics. As a robotic restaurant in Ghana, Horlap introduces automation into hospitality, using robots to serve customers and demonstrating how robotics can be applied in real-world business environments.

Looking ahead, the company is exploring emerging technologies in Ghana, including cryptocurrency. It plans to launch a platform that allows users to buy, sell, and manage crypto assets securely, including peer-to-peer transactions. At the same time, Hackscience is investing in cybersecurity training to improve online safety and reduce exposure to fraud as more users move into digital finance.

With ambitions to expand beyond Ghana into international markets, including Europe and the Middle East, Kelvin outlines a long-term vision built on integration. By combining fintech, cybersecurity, software development, and robotics, Hackscience aims to create a fully interconnected digital ecosystem that addresses real market needs while positioning itself as a key player in Africa’s technology landscape.

How would you describe the evolution of the FinTech industry in Ghana, including key trends and current challenges?

Currently in Ghana, the FinTech sector is largely centred on mobile money. Most FinTech companies build their core infrastructure around mobile money transactions. At present, mobile money operates almost as a monopoly, with MTN holding the largest market share. This means that, regardless of how capable a FinTech organisation is, it remains dependent on third-party providers, most notably MTN, for mobile money collections. This dependency is a significant challenge, as third-party providers frequently experience downtimes and are unable to guarantee 99.9 per cent uptime. This directly affects most FinTechs. A FinTech may experience downtime of two to three hours, during which payments cannot be processed, particularly during peak periods.

This, I would say, is a major challenge facing the FinTech industry in Ghana, one that stems directly from the unreliability of mobile money providers.

What are the key trends and opportunities in the FinTech industry?

The FinTech market space is considerably vast. Despite the growing number of FinTech companies in the industry, they have not yet been able to serve the entire market.
To illustrate, if you were to visit two or three shops in your immediate vicinity, chances are that only one of them would be working with a FinTech company, while the others have no FinTech solution in place.

This indicates that the market remains largely untapped. Across mobile payments, card transactions and e-commerce, there is still significant room for growth. While it may appear highly competitive on the surface, the reality is that there is still ample opportunity for every player in the industry.

You lead three distinct companies: Hackscience Technologies, Bulkclix, and Horlap Innovation Experience. How are these organisations interconnected, and what is the overarching strategic vision and mission that unifies them?

Before I get to that, allow me to provide a brief overview. Hackscience is, in essence, the parent company of all the others. It was the first to be established and specialises in software development and cybersecurity.

In the case of Bulkclix, the software development was outsourced to Hackscience, which developed the Bulkclix application. It also established the robotics division and developed the robots used by Horlap.

Hackscience, therefore, functions as a service provider to the other two companies, delivering expertise in both robotic and software development.

Horlap’s core vision is to make human life easier by reducing manual labour and enabling robots to perform such tasks.

Bulkclix’s primary objective is to drive innovation within the FinTech industry and develop reliable payment systems.

With Hackscience, the focus is on cybersecurity. We are working towards making the Ghanaian cyberspace a highly secure environment, with particular attention to vulnerability assessments, penetration testing and all aspects of online security.

The overarching vision is to create a fully interconnected digital ecosystem in which all components operate in an integrated manner. Each entity supports and complements the others through specialised functions. The overarching vision is to create a fully interconnected digital ecosystem in which all components operate in an integrated manner. Each entity supports and complements the others through specialised functions.

All three companies operate within the same digital ecosystem, focusing on payments, software development, and cybersecurity, and functioning in a unified and complementary space.

Regarding Hackscience Technologies, which appears to focus on infrastructure and technology, is cybersecurity the primary scope of your work, or does your offering extend beyond this area?

At present, Hackscience’s primary focus extends beyond cybersecurity, with a strong emphasis on software development. It also maintains a dedicated division focused on cybersecurity.

The company develops tailored software solutions for organisations. Its in-house platforms include Horlap, Odrin, and the RIDA system, all of which are developed by Hackscience.

In addition, Hackscience is responsible for developing Bulkclix’s core systems, including the payment gateway, payment aggregation services, bulk email, and bulk SMS solutions.

Hackscience further develops USSD payment solutions and other products for third-party companies such as PaySwitch.

It appears your focus is more on technical and hardware-oriented innovation, whereas many companies tend to prioritize software. What informed this strategic focus?

In terms of our scope, we integrate both hardware and software. We develop these components in an integrated manner, with the hardware aspect focused on robotics. This involves both the development and training of robotic systems.

Building a robot requires software to train and control it, including the software used to develop the underlying robotic models.

These elements function together as a unified system. We do not focus on one aspect in isolation. Instead, we combine both to deliver complete and effective products.

Turning to Bulkclix, is your business model primarily B2B, or does it extend beyond that?

Bulkclix operates across two main segments: B2B and B2C.

Starting with the B2C segment, customers can pay electricity and other utility bills, purchase airtime and data bundles, send money to different providers, and access additional services such as sending SMS messages or gifting airtime to loved ones.

On the B2B side, we provide businesses with APIs to integrate directly into their own software systems. These include an SMS API, a payment API and a notifications API.

Regarding Bulkclix, how would you describe your value proposition, and what differentiates your approach from traditional marketing agencies?

Bulkclix focuses on supporting the digital marketing space. While we do not provide marketing services directly, we offer the tools that allow companies to manage their own campaigns.

For instance, if a business needs to send bulk emails or bulk SMS messages, Bulkclix provides the platforms to do so. In this way, Bulkclix functions as a service provider to digital marketing firms, enabling them to execute their campaigns efficiently.

Given the competitive nature of the FinTech industry, how is your business model evolving to maintain a competitive edge, and what factors help you stay ahead?

One of our defining qualities is that we are highly dynamic and consistently attentive to current market gaps. We identify the current challenges people face and develop solutions to address them. Our focus is on adapting and modifying our software to meet these specific needs.

What distinguishes us from other FinTech companies is that we provide dedicated systems, built and customised for each specific client and their business needs. We do not offer the same solutions to every client.

For example, although Bulkclix may serve millions of users, each business has a tailored dashboard and customised software. While the platform is fundamentally the same, it is adapted to meet the unique requirements of each client.

What is the future direction for Bulkclix? Are there plans for expansion or new initiatives in the pipeline?

Bulkclix is planning to expand beyond Ghana, targeting markets outside West Africa, including Europe and potentially the Middle East. This forms a key part of our growth and international expansion strategy.

Regarding Hackscience Technologies, particularly in cybersecurity training, what are your key objectives, and what impact do you aim to achieve in the country?

Our primary goal is to equip young people with the knowledge and tools to stay secure online. By educating users on best practices and online precautions, we help create a safer digital environment. This is particularly relevant given that we also operate products within the FinTech space. If our customers lack cybersecurity awareness, they become vulnerable to fraudsters and scammers who could compromise their finances.

By providing training sessions and educating the public on security threats, Hackscience indirectly strengthens the security of its own products as well. With everything moving online and the world becoming increasingly digital, educating the general public on cybersecurity has never been more important.

There is also another dimension worth highlighting. Many companies now develop software using AI, even if they do not have a strong software background. While AI can accelerate development, it can also introduce vulnerabilities if the software is not properly tested. Hackscience addresses this by rigorously testing AI-built applications to identify and remove vulnerabilities before deployment, ensuring a secure and reliable product for users.

Are there any current projects or upcoming initiatives you are working on?

We have several products in development. Recently, Ghana officially authorised cryptocurrency, and we are developing a product that will enable users to buy, sell, and hold crypto assets. While we are not yet ready to disclose the name of the product, we anticipate launching it before the end of the year.

The application will allow users to securely hold cryptocurrency, convert assets, make payments, and receive funds in crypto. Previously, Ghana did not officially accept crypto as a means of payment, but with the central bank’s approval, we are building software to support these transactions.

The platform will also include a peer-to-peer (P2P) feature, allowing users to transfer resources and interact directly within the ecosystem.


Strategic partnerships are crucial in FinTech. Could you share some of the key partnerships that support or drive your businesses?

Operating within the FinTech space requires strategic partnerships, as no single company can manage everything independently.

For example, mobile money services rely on telecom providers such as MTN, AirtelTigo, and Telecel, all of whom we actively collaborate with. Similarly, for SMS services, unless you own a telecommunications network, you must rely on these same providers to route local notifications.

Let us turn to Horlap Innovation Experience. Could you elaborate on its role as an experience centre and the value it delivers?

Horlap is a dining concept where robots serve the customers. Customers can walk in, take a seat, and enjoy their meals while being served by robotic systems. Each table is equipped with a tablet through which customers can place their orders. Once an order is submitted, it is sent directly to the kitchen for preparation. When the meal is ready, a robot collects the order and delivers it to the customer’s table.

Currently, the deployed model is the Horlap Bot 1.0, which functions primarily as a delivery assistant, facilitating the movement of orders from the kitchen to the customer. A next-generation model, the Horlap Bot 2.0, is already in development. This advanced model will be equipped with arms and legs, enabling it to move and navigate its environment much like a human.

You currently have a Horlap Innovation Experience centre in East Legon. Can you share your plans for opening additional centres or expanding this concept further?

The goal is to expand Horlap to approximately 50 branches across the country within the next three years. Currently, three branches are operational, located in East Legon, Cantonments and Spintex. We are closely monitoring their performance before proceeding with the rollout of additional branches.

In the context of emerging markets and rapid technological change, what is your long-term vision for sustainability, and how do you plan to ensure the longevity of your business?

We are not just a conventional restaurant. In addition to our hospitality offering, we provide robots as a service to other restaurants. These service robots are deployed to support their operations, and businesses subscribe to use them within their establishments.

As a result, our revenue streams extend beyond food sales. A significant portion of our income is derived from leasing robots to other businesses as a service. Since these robots are designed and built locally, we are able to produce them at scale and deploy them across multiple client establishments.

Looking ahead over the next three to five years, what is your vision for Hackscience Technologies, Bulkclix, and Horlap Innovation Experience? What would you like to achieve with these three companies collectively?

Each company has its own distinct focus. Although they are closely related, it is worth addressing them individually.

Over the next two years, we envision Bulkclix becoming the go-to platform for digital services, spanning payments, digital solutions, and broader online services.

For Hackscience, we see it taking a leading role in cybersecurity and software development, positioning itself as a key player in these fields.

As for Horlap, it currently stands as the only robotic restaurant in the country. The long-term vision is for it to grow into one of the top robotics firms in the world.

What inspired you to pursue innovation and establish these three companies, and what continues to motivate you?

My motivation is driven by a deep passion for this field. I was exposed to this field quite early, during my junior high school years, which is when I was first introduced to robotics.

From that point, I started exploring both robotics and software development at a basic level, gradually building on that foundation over time. At each stage of my life, I have continued to develop and refine this interest.

The way I see it, when you pursue something you are genuinely passionate about, and it begins to generate value and revenue, it naturally evolves into a vocation.