MTN Ghana finalises mobile money separation

Scancom PLC has completed the structural separation of its mobile money business, marking a significant step in the evolution of Ghana’s telecommunications and fintech landscape.

The company, which operates as MTN Ghana, announced that the transaction aligns with its strategy to scale fintech operations while complying with localisation requirements under the Payment Systems and Services Act, 2019.

This was contained in a public statement issued on April 2, 2026 on the Ghana Stock Exchange.

The move reflects broader regulatory efforts to ring-fence mobile money operations and deepens local participation in the fast-growing digital financial services sector.

The separation was executed through a statutory merger between MobileMoney Limited, previously a wholly owned subsidiary of Scancom PLC, and MobileMoney Fintech Limited, a newly incorporated entity established to house the mobile money business.

The merger took effect on March 31, 2026, following the completion of all conditions precedent and receipt of regulatory approvals.

Under the new structure, MobileMoney Fintech Limited assumes full responsibility for the mobile money business, while Scancom PLC continues to focus on its core telecommunications operations, including voice, data and enterprise services.

The transaction does not alter the company’s stated capital or shareholding structure, preserving stability for investors on the Ghana Stock Exchange.

Ownership of the new fintech entity is split between MTN Dutch Holdings B.V., a subsidiary of MTN Group Limited, and the MTN Ghana Fintech Trust, which has been established to represent the interests of non-MTN Group shareholders.

The structural separation is expected to sharpen operational focus, enhance regulatory compliance and position the mobile money business for further growth as a standalone fintech entity.

It also reinforces the increasing convergence between telecommunications and financial services in Ghana, where mobile money continues to play a central role in financial inclusion and digital payments growth.