Scancom PLC (MTN Ghana) has announced the completion of the structural separation of its mobile money business.
This is in line with its strategic objective to scale its fintech operations and to comply with the localisation requirements of the Payment Systems and Services Act, 2019 (Act 987).
The merger became effective, March 31st, 2026, following the satisfaction or waiver of all conditions precedent and receipt of the required regulatory approvals.
The transaction involved the statutory merger of MobileMoney Ltd, the former operator of the Company’s mobile money business, with MobileMoney Fintech LTD (MMFL), a newly incorporated entity established to operate the mobile money business in accordance with the Companies Act, 2019 (Act 992).
No new shares were issued by MTN Ghana as part of the transaction.
MTN Ghana, following the completion of the merger, reiterates the following:
• The mobile money business is now operated by MobileMoney Fintech LTD. (MMFL).
• MTN Ghana’s shareholding structure remain unchanged.
• MTN Ghana continues to operate its core telecommunications business.
Leadership Commentary
Stephen Blewett, Chief Executive Officer of MTN Ghana, 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.”
Shaibu Haruna, Chief Executive Officer of MobileMoney Fintech LTD, 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 separation positions both businesses to operate with greater strategic focus, while maintaining full compliance with regulatory requirements and enhancing long-term value creation for stakeholders.
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Source: www.myjoyonline.com