MTN completes Ghana MoMo into standalone fintech arm

MTN Group has completed the separation of its mobile money business in Ghana into a standalone fintech entity which is a significant step in its strategy to scale financial services across Africa.

The telecom giant confirmed in a regulatory filing on Thursday that its Ghanaian subsidiary, Scancom PLC, has finalised the merger of MobileMoney Ltd with a newly created entity, MobileMoney Fintech Ltd (MMFL).

The restructuring took effect on March 31, 2026, following regulatory approvals. The new entity, MMFL, will house all of MTN Ghana’s mobile money operations and is jointly owned by MTN Dutch Holdings B.V. and the MTN Ghana Fintech Trust, which represents local minority shareholders.

MTN said the reorganisation does not alter its shareholding structure in Ghana or impact its core telecommunications business. Instead, the move is designed to position fintech as an independent growth engine, enabling the unit to attract investment, expand into services such as payments and lending, and achieve a separate valuation from the telecoms arm.

The spinoff also aligns with Ghana’s Payment Systems and Services Act, which requires local participation in digital financial services businesses.

Mobile money has become a central pillar of MTN’s growth strategy as digital financial services gain traction across the continent. In 2025, mobile money transactions in Sub-Saharan Africa reached $1.4 trillion, revealing the scale of the opportunity.

Ghana remains one of MTN’s most mature markets for mobile money. The company reported $549.15 million in MoMo revenue from the country in 2025, while its fintech division processed $500.3 billion in transaction volume across markets, with 69.5 million active users.

The Ghana spinoff is expected to serve as a test case for similar restructurings in other markets. MTN has already begun processes in Nigeria and Uganda, although these remain subject to shareholder and regulatory approvals.

The separation is also tied to MTN’s broader fintech ambitions, including a 2023 partnership with Mastercard that could see the payments giant take a stake in the business, potentially valuing the unit at over $5 billion.