In order to comply with regulations and further the expansion of digital financial services, MTN Group Ltd., the largest telecom operator in Africa, has finished structurally separating its mobile money business in Ghana, establishing a separate fintech company.
The business, which is listed on the Johannesburg Stock Exchange, announced on Thursday that its Ghanaian division, Scancom PLC, had completed the deal after local authorities gave its consent. The Stock Exchange News Service was used to make the announcement.
The action complies with Ghana’s Payment Systems and Services Act, 2019, which requires telecom companies that offer financial services to run them through distinct legal organisations. The split of MTN is viewed as a calculated move to boost the expansion of the nation’s mobile financial industry.
According to the document, “the transaction involved the statutory merger of MobileMoney Fintech LTD, a newly incorporated company established to run the mobile money business, and MobileMoney LTD, a wholly owned subsidiary of MTN Ghana that previously operated the mobile money business, in accordance with the Companies Act, 2019 in Ghana (the merger).”
The statement claims that the merger took effect on March 31, 2026, following the company’s acquisition of the necessary regulatory approvals and the satisfaction or waiver of all prior conditions.
After the deal was completed, MobileMoney Fintech Ltd. now entirely operates the mobile money business, while MTN Ghana still manages its telecom services on its own. The business further said that MTN Ghana’s declared capital and shareholding structure remained unaltered and that the restructuring did not entail the issue of new shares.
MTN Dutch Holdings B.V., a subsidiary of MTN Group, owns MMFL, the new fintech company, in addition to the MTN Ghana Fintech Trust, which was established for the benefit of beneficiaries who occasionally represent MTN Ghana’s non-MTN Group shareholders, guaranteeing minority investors’ continued economic participation in the mobile money industry.
According to MTN, the split is a significant turning point that not only satisfies Ghanaian regulatory requirements but also supports the group’s strategy goal of expanding its fintech platform and speeding up long-term value development.
The statement highlights MTN’s increasing focus on financial technology as a primary development engine in all of its markets, where mobile money services have grown to offer payments, savings, lending, and merchant solutions in addition to transfers.
Tamela Holdings Proprietary Limited was the main sponsor and J.P. Morgan Equities Proprietary Limited was the joint sponsor of the notice, which was issued from Fairland on April 2, 2026. It was distributed via the JSE’s SENS platform, which provides investors with market-sensitive information, along with a standard disclaimer that the exchange does not guarantee the accuracy or completeness of material provided through the program.
MTN said the completed separation positions the Ghana mobile money business to scale faster within a dedicated fintech structure while allowing MTN Ghana to continue focusing on its core telecommunications operations.
