MTN Completes Mobile Money Separation in Ghana
MTN Group Ltd has completed the separation of its mobile money operations in Ghana, establishing MobileMoney Fintech Ltd as a standalone entity. This transition, which received local regulatory approval, aligns with the Ghana Payment Systems Services Act of 2019, mandating telecom operators to provide financial services as separate legal entities.
The transaction, effective March 31, 2026, involved a statutory merger with MobileMoney Ltd, a wholly-owned subsidiary of MTN Ghana. The restructuring does not involve the issuance of new shares, and MTN Ghana's capital structure remains unchanged.
The new fintech entity is owned by MTN Dutch Hold B.V., a subsidiary of MTN Group, and the MTN Ghana Fintech Trust, which benefits non-MTN Group shareholders. This separation is viewed as a significant milestone for MTN, allowing for accelerated growth in Ghana's mobile financial sector and enhancing the company's focus on telecommunications operations.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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