MTN Ghana completes separation of mobile money business in GH¢6bn fintech shake-up

Scancom PLC, operating as MTN Ghana, has finalised the structural separation of its mobile money business, a major step that places its fintech operations under new ownership while complying with local ownership regulations.

The company announced to the Ghana Stock Exchange on April 2, 2026, that the statutory merger of its two mobile money subsidiaries — MobileMoney LTD and MobileMoney Fintech LTD — became effective on March 31, 2026, after securing all required regulatory approvals.

“Scancom PLC hereby announces the completion of the structural separation of its mobile money business in line with its strategic objective of scaling its fintech operations and in accordance with the localisation requirement under the Payment Systems and Services Act, 2019 (Act 987),” the statement read.

The transaction merged MobileMoney LTD, which previously operated the mobile money business, with MobileMoney Fintech LTD, a newly incorporated entity that will now run the division going forward. No shares were issued as part of the merger, and the company confirmed that its stated capital and shareholding structure remain unchanged.

Following the separation, Scancom PLC will continue to conduct its core telecommunications business, while MobileMoney Fintech LTD will carry on the mobile money operations.

New ownership structure

Under the new arrangement, MobileMoney Fintech LTD is owned by MTN Dutch Holdings B.V., a subsidiary of MTN Group Limited, and The MTN Ghana Fintech Trust — a trust established for the benefit of non-MTN Group shareholders of Scancom PLC.

The move satisfies the localisation requirements of Ghana’s Payment Systems and Services Act, 2019 (Act 987), which mandates specific ownership and operational arrangements for mobile money service providers.

Fintech growth accelerates

The restructuring comes as MTN Ghana’s mobile money business continues to post robust growth. In its full-year results for the period ended December 31, 2025, the company reported that mobile money revenue surged 35.7 per cent year-on-year to GH¢6.0 billion, driven by a 12.3 per cent increase in active users to 19.3 million.

Revenue from basic services grew 27.2 per cent year-on-year, largely due to increased withdrawal and transfer services following the abolition of the electronic levy. Advance services — including digital payments and lending solutions — jumped 55.9 per cent to GH¢2.0 billion, reflecting rising adoption of the company’s fintech offerings.

Although mobile money’s share of overall service revenue dipped marginally from 24.9 per cent to 24.8 per cent, the growth momentum of payment and lending services remained strong.

The announcement was signed by Stephen Blewett, Chief Executive Officer of Scancom PLC.