Ghana: MTN Completes Spin-Off of Mobile Money Business into Standalone Fintech in Ghana

MTN Group Ltd. has finalised the separation of its mobile money operations in Ghana into an independent fintech entity, marking a significant step in its digital financial services strategy and compliance with local regulations.

The Johannesburg-listed telecoms giant confirmed that its Ghanaian subsidiary, Scancom PLC, completed the restructuring following approvals from relevant regulatory authorities. The disclosure was made via the Stock Exchange News Service.

The move is in line with Ghana’s Payment Systems and Services Act, 2019, which requires telecommunications operators offering financial services to house such operations under separate legal entities. Beyond compliance, the restructuring is expected to unlock growth opportunities within the country’s expanding mobile financial services market.

As part of the transaction, MobileMoney LTD—previously responsible for MTN Ghana’s mobile money operations—was merged with MobileMoney Fintech LTD, a newly established entity created to manage the business. The merger, executed under Ghana’s Companies Act, 2019, took effect on March 31, 2026, after all regulatory and procedural requirements were met.

With the process now complete, MobileMoney Fintech Ltd assumes full responsibility for mobile money services, while MTN Ghana continues to focus on its core telecommunications business.

MTN clarified that the restructuring did not result in the issuance of new shares, with the company’s capital structure and shareholding remaining unchanged.

The group described the separation as a strategic milestone that not only satisfies regulatory obligations but also supports its broader ambition to scale fintech operations and drive long-term value creation across its markets.

Mobile money remains a key growth driver for MTN, with services evolving beyond basic transfers to include payments, savings, lending, and merchant solutions.

The development reinforces MTN’s commitment to deepening its presence in the fintech space, positioning the newly independent entity to operate with greater agility while enabling the telecoms arm to concentrate on its core network and connectivity services.