MTN Group has completed the structural separation of its mobile money business in Ghana, spinning it off into a standalone fintech entity as part of its broader strategy to scale digital financial services across Africa.
The development was disclosed on April 2, 2026, in a filing published on the company’s investor relations platform.
“MTN shareholders are advised that Scancom PLC (MTN Ghana) has completed the structural separation of its mobile money business in line with the localisation requirement under the Payment Systems and Services Act, 2019 (Act 987) in Ghana (the Transaction),” the notice of the filling, seen by TechMedia Africa, reads in part.
The separation took effect on March 31, 2026, after the company secured all required regulatory approvals and met the conditions tied to the transaction.
Why MTN is separating fintech from telecoms
The move reflects MTN’s long-term push to position fintech—particularly mobile money—as a standalone growth engine, separate from its traditional telecom operations.
Mobile money has become a critical revenue driver across Africa, with Sub-Saharan transactions reaching $1.4 trillion in 2025. On April 2, TechMedia Africa reported that Africa’s fintech ecosystem raised $221 million in the first quarter of 2026, 31.1 percent of the $711 million that the contienets entire tech space raised.
- While fintechs in Ghana only raised $9 million within the three months under review, the West Africa country still remains one of MTN’s most mature markets, generating $549.15 million in mobile money revenue that year.
Across the group, fintech transaction volumes rose nearly 40% to $500.3 billion, with 69.5 million active users.
Spinning off the Ghana unit provides a test case for MTN’s wider restructuring ambitions, with similar processes underway in Nigeria and Uganda.
In Uganda, shareholders already approved a separation in 2025, while in Nigeria the plan remains subject to regulatory and shareholder approvals.
- The strategy is also tied to MTN’s 2023 deal with Mastercard, which could see the payments giant invest up to $200 million for a stake in the fintech business, valuing it at $5.2 billion.
“In our fintech platform, we remain focused on scaling ecosystem growth amidst competitive and pricing disruptions,” CEO Ralph Mupita said in the company’s 2025 results, highlighting plans to deepen user engagement and monetisation.
The transaction itself involved merging MobileMoney LTD, the existing mobile money subsidiary, with a newly created entity, MobileMoney Fintech LTD (MMFL), under Ghana’s Companies Act.
How the new structure will operate
Following the restructuring, the mobile money business will now be operated entirely by MMFL as a separate fintech company, while MTN Ghana continues its core telecom services.
The company clarified that the transaction did not alter its shareholding structure, stating:
- “the mobile money business is now carried on by MMFL;
- MTN Ghana’s stated capital and shareholding structure remain unchanged; and
- MTN Ghana continues to conduct its telecommunications business.”
MMFL is owned by MTN Dutch Holdings B.V., alongside the MTN Ghana Fintech Trust, which represents minority shareholders.
MTN said the milestone ensures compliance with Ghanaian regulations while accelerating its ambition to unlock more value from its fintech platform, as competition intensifies in Africa’s rapidly expanding digital payments market.
