Scancom PLC (MTN Ghana) has completed the structural separation of its mobile money business, a key step in scaling its fintech operations and complying with Ghana’s Payment Systems and Services Act, 2019 (Act 987).
The merger became effective on March 31, 2026, after all conditions precedent were satisfied and the necessary regulatory approvals were secured.
MobileMoney Ltd., the former operator of MTN Ghana’s mobile money business, merged with the newly incorporated MobileMoney Fintech LTD (MMFL), which will now run the mobile money operations under the Companies Act, 2019 (Act 992).
No new shares were issued by MTN Ghana as part of the transaction. The company confirmed that its core telecommunications business and shareholding structure remain unchanged.
Commenting on the milestone, MTN Ghana CEO, Stephen Blewett, said, “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.”
MobileMoney Fintech LTD CEO, Shaibu Haruna, added, “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.”
The move allows both MTN Ghana and MMFL to operate with sharper strategic focus, full regulatory compliance, and enhanced long-term value creation for stakeholders.
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Source: www.myjoyonline.com
