Scancom PLC, operators of MTN Ghana, has announced the completion of the structural separation of its mobile money business, a move aimed at scaling its fintech operations while complying with Ghana’s Payment Systems and Services Act, 2019 (Act 987).
The company said the transaction became effective on March 31, 2026, after all conditions precedent were satisfied or waived and the necessary regulatory approvals obtained.
The restructuring was implemented through a statutory merger between MobileMoney Ltd., the former operator of MTN Ghana’s mobile money operations, and MobileMoney Fintech LTD (MMFL), a newly incorporated entity established under the Companies Act, 2019 (Act 992).
MMFL will now operate the mobile money business going forward.
MTN Ghana clarified that no new shares were issued as part of the transaction and that the company’s shareholding structure remained unchanged.
Following the completion of the merger, the telco reiterated that the mobile money business is now operated by MobileMoney Fintech LTD (MMFL);
MTN Ghana’s ownership and shareholding structure remain the same; and the company will continue to operate its core telecommunications business, including voice, data and enterprise services.
Commenting on the development, Stephen Blewett, Chief Executive Officer of MTN Ghana, described the completion of the separation as a significant milestone in the company’s digital transformation journey.
“This milestone reflects our commitment to driving innovation, strengthening digital infrastructure and delivering services that improve the lives of our customers.
The structural separation positions us to scale our fintech ambitions while continuing to invest in Ghana’s digital future,” he said.
On his part, Shaibu Haruna, Chief Executive Officer of MobileMoney Fintech LTD, said the transition marks a new phase for the mobile money business.
“The transition marks a new chapter in our mission to deepen financial inclusion and deliver secure, customer-focused digital financial services. We remain committed to empowering individuals and businesses across Ghana with reliable, innovative fintech solutions,” he noted.
The separation is expected to allow both the telecommunications and mobile money businesses to operate with greater strategic focus, while ensuring full compliance with regulatory requirements governing electronic payments and digital financial services in Ghana.
Industry analysts say the move aligns MTN Ghana with regulatory expectations on localisation and governance of payment services, while also positioning its mobile money business to grow independently in an increasingly competitive fintech landscape.
