MTN Ghana Separates from MTN Mobile Money (MoMo)
In one of the most significant developments in Ghana’s telecom and fintech sectors, MTN Ghana (Scancom PLC) has officially completed the structural separation of its hugely successful Mobile Money (MoMo) business.
This is not a sale or breakup of the business. It is a carefully planned regulatory-driven restructuring designed to give MoMo greater independence, focus, and growth potential while ensuring full compliance with Ghana’s financial regulations.
Why MTN Ghana Separated MoMo
The separation is primarily driven by the Bank of Ghana’s Payment Systems and Services Act, 2019 (Act 987). This law requires electronic money issuers (mobile money operators) to operate as standalone, well-capitalised fintech companies with a minimum of 30% Ghanaian/local ownership.
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To comply:
- MTN merged the old MobileMoney Limited (MML) with a newly created entity MobileMoney Fintech LTD.
- All MoMo assets, liabilities, employees, customer wallets, and operations were transferred to the new company.
- The old MML has been dissolved.
The move also aligns with MTN Group’s Ambition 2025 strategy, which seeks to separate fintech operations from core telecommunications (voice and data) businesses across its markets. This allows each business to focus on its strengths, attract specialised investment, and drive faster innovation.
Shareholders of Scancom PLC (MTN Ghana) overwhelmingly approved the merger at an Extraordinary General Meeting in December 2025.
New Ownership Structure
MobileMoney Fintech LTD is now owned by two entities:
- MTN Dutch Holdings B.V.: representing the MTN Group’s interest.
- MTN Ghana Fintech Trust :This trust holds the proportional interests of minority shareholders of MTN Ghana (Scancom PLC).
Important points for shareholders:
- MTN Ghana’s shareholding and capital structure remain completely unchanged.
- No new shares were issued.
- MTN Ghana now focuses purely on telecommunications.
- Shareholders retain their economic exposure to MoMo’s profits and future growth through the Fintech Trust.
- A potential listing of MobileMoney Fintech LTD on the Ghana Stock Exchange (GSE) is expected within 3–5 years.
Effect on Customers (MoMo Users)
For the millions of Ghanaians who use MTN MoMo daily, very little changes immediately:
- Your MoMo wallet, app, USSD code (170#), transaction limits, and all services (send money, cash-out, bill payments, merchant payments, savings, loans, etc.) continue to work exactly the same.
- Security standards and customer service remain unchanged.
- MTN Ghana and the new MoMo company will continue to work closely together for seamless network integration and customer experience.
Long-term benefits for users may include:
- Faster innovation and new financial products
- Improved lending, insurance, and investment services
- Stronger governance and potentially more competitive rates
MTN has assured customers that their funds are 100% safe and the transition has been seamless.
Effects on MTN Ghana and Shareholders
Positive outcomes:
- MTN Ghana can now focus exclusively on telecom infrastructure, network expansion, and data services.
- MoMo becomes a standalone high-growth fintech asset with its own dedicated management.
- Shareholders maintain their proportional economic interest in MoMo via the Fintech Trust.
- Better regulatory compliance and reduced risk of penalties.
- Potential future value unlock if MoMo lists on the GSE.
MoMo has been a major revenue driver for MTN Ghana, contributing significantly to the company’s strong 2025 performance and the GHS 6.4 billion dividend declared at the 2026 AGM.
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