MTN Group has completed the separation of its mobile money business in Ghana, marking a significant step in its broader push to position fintech as a standalone growth engine.
In a regulatory filing , the telecoms giant said its Ghanaian subsidiary, Scancom PLC, has finalised the merger of MobileMoney Ltd with a newly established entity, MobileMoney Fintech Ltd (MMFL). The restructuring took effect on March 31, 2026, following all required regulatory approvals.
The newly formed MMFL will now house MTN Ghana’s mobile money operations. Ownership of the entity is split between MTN Dutch Holdings B.V. and the MTN Ghana Fintech Trust, which represents local minority shareholders.
Despite the structural shift, MTN noted that there are no changes to MTN Ghana’s shareholding, capital structure, or its core telecoms business.
The move underscores MTN’s ambition to unlock more value from its fintech arm by separating it from its traditional telecoms operations. As an independent unit, the business is expected to attract investment, scale its offerings across payments, lending, and other digital financial services, and potentially command its own valuation.
It also brings the company in line with Ghana’s Payment Systems and Services Act, 2019 (Act 987), which sets out localisation requirements for financial service providers.
MTN has increasingly positioned fintech particularly mobile money as a central pillar of its growth strategy. Across Sub-Saharan Africa, mobile money transactions reached $1.4 trillion in 2025, highlighting the scale of the opportunity.
Ghana remains one of MTN’s strongest mobile money markets. In 2025, the company generated $549.15 million in mobile money revenue from the country alone. Group-wide, fintech transaction volumes climbed nearly 40% year-on-year to $500.3 billion, with active users hitting 69.5 million.
The Ghana spinoff is seen as a test case for MTN’s wider fintech separation strategy, with similar efforts underway in Nigeria and Uganda.
The restructuring is also tied to MTN’s 2023 agreement with Mastercard, which could see the global payments company take a stake of up to $200 million in the fintech business, implying a valuation of around $5.2 billion.
Progress is already visible in other markets. In Uganda, shareholders approved the separation of MTN Mobile Money Limited from MTN Uganda in July 2025. In Nigeria, MTN’s board has signed off on the plan, though it remains subject to shareholder and regulatory approvals.
MTN Group CEO Ralph Mupita has said the company remains focused on scaling its fintech ecosystem despite increasing competition and pricing pressures.
“Our priority is to deepen penetration and engagement, with an eye on commercial monetisation,” he said in the group’s 2025 results.
With the Ghana spinoff now complete, MTN is one step closer to fully unlocking the value of its fintech ambitions across the continent.
