MobileMoney Fintech LTD (MMFL) says its structural separation from Scancom PLC will enhance its agility, strengthen governance, and accelerate the delivery of innovative digital financial services to customers across Ghana.
The announcement follows an Extraordinary General Meeting (EGM) held in Accra, where shareholders approved key resolutions to operationalise MMFL as an independent fintech entity.
Board Chair of MMFL, Victoria Bright, described the separation as a “major milestone” in the company’s evolution, positioning it for long-term growth and continental expansion.
“The separation gives MMFL greater agility and operational focus. It creates the opportunity to strengthen governance, improve efficiency and accelerate initiatives that deliver meaningful value to customers while supporting long-term sustainable growth,” she said.
At the EGM, shareholders endorsed several measures to anchor the company’s independent operations. These included transition of directors into the new standalone entity, appointment of Ernst & Young as the company’s first external auditors and approval of dividend-related reforms, including shifting from semi-annual to quarterly payouts.
Ms. Bright noted that these decisions formed the backbone of MMFL’s new governance framework, ensuring transparency and accountability as the company embarks on its next growth phase.
Chief Executive Officer, Shaibu Haruna, said the separation allows MMFL to sharpen its strategic focus on customer needs while accelerating investment in digital innovation and security infrastructure.
“As an independent fintech company, we are better positioned to accelerate innovation, strengthen security, improve customer experience and develop solutions that meet the evolving needs of Ghanaians,” he said.
He added that the new organisational structure would enable MMFL to respond more quickly to shifts in customer expectations and emerging opportunities within Ghana’s fast-growing digital financial ecosystem.
MMFL’s leadership indicated that the company’s strong financial performance provided a solid foundation for its independent future.
For the first quarter of 2026, the company recorded revenue of approximately GH¢1.7 billion, representing a 28.4 percent year-on-year increase.
According to Mr. Haruna, this momentum will support continued investment in digital infrastructure, cybersecurity systems and customer-centric product innovation.
The structural separation officially took effect on March 31, 2026, establishing MMFL as a standalone fintech business with its own governance and shareholder engagement framework.
The company says the move aligns with its broader ambition to expand financial inclusion across Ghana, drive digital transformation in financial services and create sustainable value for customers and shareholders.
With more than 17 million registered subscribers, MMFL is one of Ghana’s largest mobile financial services providers, offering solutions across payments, remittances, savings, loans, InsureTech, and BankTech services.
Source: businesspostonline
