• MTN Ghana completes separation of mobile money into new entity
• Move aims to boost fintech growth and attract dedicated investment
• Mobile money revenue rose 35.7%, highlighting strong business expansion

Scancom PLC, which operates as MTN Ghana, has completed the separation of its mobile money business into a new entity, Mobile Money Fintech Ltd (MMFL).

The merger of the former subsidiary Mobile Money Ltd into the new company took effect on Tuesday, March 31, after receiving all regulatory approvals under Ghana’s Payment Systems Act, 2019 (Act 987).

The move is part of MTN’s strategy to position fintech as a standalone growth driver, while retaining its core telecom operations within Scancom PLC.

“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 expand our fintech ambitions while continuing to invest in Ghana’s digital future,” said MTN Ghana Chief Executive Stephen Blewett.

Mobile Money Fintech Ltd will house all of MTN Ghana’s mobile money operations. The ownership structure remains unchanged, shared between MTN Dutch Holdings B.V., a subsidiary of MTN Group, and the MTN Ghana Fintech Trust, which represents minority shareholders.

The structure complies with Ghana’s localization rules governing the ownership and operation of mobile money services.

Strong growth

The separation comes as mobile money continues to grow strongly. In 2025, MTN Ghana reported mobile money revenue of 6 billion cedis ($546 million), up 35.7% year-on-year. Active users rose 12.3% to 19.3 million, while advanced services — including digital payments and lending — grew 55.9% to 2 billion cedis.

Mobile money accounted for about 25% of total service revenue, with rising revenue and user numbers highlighting its central role in the group’s fintech strategy.

The Ghana restructuring also serves as a model for MTN Group, which plans to roll it out in other African markets, including Nigeria and Uganda.

The structure aims to attract dedicated fintech investment, expand digital financial services and allow the business to be valued separately. In 2025, MTN Group processed fintech transactions worth $500.3 billion across sub-Saharan Africa and had 69.5 million active users, underlining mobile money’s growing role in its strategy.

Samira Njoya