MTN Ghana Splits Mobile Money Busines, Eyes Fintech Growth
Scancom PLC, operating as MTN Ghana, has completed the structural separation of its mobile money business, a move that aligns with the company’s strategic focus on scaling its fintech operations just as the division reported annual revenue of GH¢6 billion.
In an announcement to the Ghana Stock Exchange (GSE) on April 2, 2026, the company confirmed that the statutory merger of its two mobile money subsidiaries, MobileMoney LTD and MobileMoney Fintech LTD, became effective on March 31, 2026, following the receipt of 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 involved the merger of MobileMoney LTD, which previously operated the company’s mobile money business, and MobileMoney Fintech LTD, a newly incorporated entity established to run the business going forward. The company confirmed that no shares were issued as part of the transaction and that its stated capital and shareholding structure remain unchanged.
Following the completion of the merger, the mobile money business is now carried on by MobileMoney Fintech LTD, while Scancom PLC continues to conduct its core telecommunications business.
Fintech Growth Momentum
The structural separation comes at a time of rapid growth for MTN’s mobile money operations. In its full-year results for the period ended December 31, 2025, the company reported that mobile money revenue increased by 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 by 27.2 per cent year-on-year, largely due to increased withdrawal and transfer services following the abolition of the electronic levy. Advance services, which include digital payments and lending solutions, surged by 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 evident.
Ownership Structure
Following the separation, 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 its beneficiaries, who are the non-MTN Group shareholders of Scancom PLC from time to time.
The move fulfils the localisation requirements under Ghana’s Payment Systems and Services Act, 2019 (Act 987), which mandates certain ownership and operational arrangements for mobile money service providers.
The announcement was signed by Stephen Blewett, Chief Executive Officer of Scancom PLC.
Source: Graphic
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