MTN Group Ltd., Africa’s largest telecom operator, has finalized the structural separation of its mobile money operations in Ghana, creating a standalone fintech entity in compliance with local regulations and as part of its plan to expand digital financial services.
The Johannesburg Stock Exchange-listed company confirmed that Scancom PLC, its Ghanaian unit, completed the merger of its mobile money subsidiary with a newly established company, MobileMoney Fintech Ltd., following approval from local regulators. The move aligns with Ghana’s Payment Systems and Services Act, 2019, which requires telecom operators offering financial services to run them through separate legal entities.
The merger, effective March 31, 2026, transfers full control of the mobile money business to MobileMoney Fintech Ltd., while MTN Ghana continues to manage its core telecommunications services independently. The restructuring did not involve issuing new shares, leaving MTN Ghana’s capital and ownership structure unchanged.
MobileMoney Fintech Ltd. is owned by MTN Dutch Holdings B.V., a subsidiary of MTN Group, and the MTN Ghana Fintech Trust, which ensures minority investors maintain economic participation in the mobile money business.
MTN highlighted that the separation supports regulatory compliance and positions the mobile money business to grow faster within a dedicated fintech framework. The company also emphasized the strategic importance of fintech for long-term value creation, noting that mobile money services now include payments, savings, lending, and merchant solutions across its markets.
