Juliet Ezeh
Africa’s largest telecom operator, MTN Group Ltd., has completed the separation of its mobile money business in Ghana, marking a major shift toward fintech expansion and regulatory compliance.
The company confirmed that its Ghanaian subsidiary, Scancom PLC, finalised the restructuring after securing approvals from local regulators. The move complies with Ghana’s Payment Systems and Services Act, which requires telecom operators to run financial services through independent entities.
With the transaction now effective, MTN’s mobile money operations in Ghana will be fully handled by MobileMoney Fintech Ltd, a newly established standalone company. This follows the merger of the former mobile money operator, MobileMoney LTD, into the new fintech structure.
The separation, which took effect on March 31, 2026, did not alter MTN Ghana’s shareholding or capital structure, as no new shares were issued during the process.
Ownership of the new fintech entity is split between MTN Dutch Holdings B.V. and the MTN Ghana Fintech Trust, ensuring minority investors retain economic benefits tied to the mobile money business.
The restructuring positions MTN to accelerate growth in digital financial services, a segment that has rapidly evolved beyond simple transfers to include payments, lending, savings, and merchant solutions.
By creating a dedicated fintech structure, MTN aims to unlock faster innovation and scale in Ghana’s booming mobile money market, while allowing its core telecom business to operate independently and more efficiently.
The announcement was released via the Johannesburg Stock Exchange platform, reinforcing MTN’s strategic focus on fintech as a key driver of long-term value across its African markets.
Juliet Ezeh is the founder and chief reporter at Westbridge Reporters with over 7 years of experience in journalism. She covers crime, industry, policy, and social developments, delivering timely and accurate reporting.