MoMo Merger Gets Green Light as Shareholders Back MobileMoney Fintech Restructuring
Restructuring strengthens governance, operational independence, and sets stage for GSE listing
MobileMoney Ltd (MML), MTN Ghana’s mobile financial services subsidiary, has received shareholder approval to merge with the newly formed MobileMoney Fintech Ltd (MMF).
The move aligns with Bank of Ghana regulations requiring at least 30% local ownership and is aimed at strengthening governance and operational independence.
The Extraordinary General Meeting (EGM) saw shareholders approve two key resolutions: the waiver of the fairness report, justified by the related-party nature of the transaction, and the proposed merger outlined in the Merger Agreement.
Upon completion on 31 December 2025, the merger will formally transfer all businesses, assets, liabilities, and consenting employees from MML to MobileMoney Fintech Ltd.
Both resolutions received overwhelming shareholder support, marking a pivotal milestone in the company’s restructuring process.
CEO: Focus on Customers, Digital Transformation, and Fraud Prevention
Shaibu Haruna, CEO of MobileMoney Fintech Ltd, assured shareholders and customers that the restructuring is primarily structural and will not disrupt services.
“The MoMo brand remains unchanged, and customers will continue to enjoy reliable services,” he said, adding that the company is committed to advancing its digital transformation agenda.
He also highlighted MobileMoney Fintech Ltd’s ongoing efforts to combat mobile money fraud, safeguarding both customers and the business.
Board Chairman: Strengthening Governance and Innovation
Dr. Ishmael Yamson, Board Chairman, described shareholder approval as a landmark development that strengthens governance and positions the company for long-term growth.
“MobileMoney Fintech Ltd is now the new operating engine of our mobile money business, aligning with global best practices and Ghana’s regulatory requirements,” he said.
Dr. Yamson also underscored MTN’s commitment to cybersecurity and customer education through initiatives such as the “Shine Your Eye” campaign, promoting digital safety across communities and rural areas. He confirmed that no shareholder exercised appraisal rights, reflecting strong confidence in the new structure.
EGM Chair: Clear Path to Independent Listing
Chairperson of MobileMoney Fintech Limited, Madam Victoria Bright, explained that the MTN Ghana Fintech Trust will hold the 30% stake on behalf of minority shareholders, ensuring their economic and governance interests are represented in the new company.
She assured shareholders that existing shares in Scancom PLC will be mirrored in the new entity, facilitating a smooth transition and separate pricing when MobileMoney Fintech Ltd eventually lists on the Ghana Stock Exchange within the next three to five years.
Madam Bright also confirmed that a new corporate governance framework, independent of Scancom PLC, will be established to support future growth and innovation.
MTN Ghana CEO: Delivering Greater Value
Stephen Blewett, CEO of MTN Ghana, reaffirmed the company’s commitment to delivering greater value to both customers and shareholders as part of its ongoing digital transformation strategy.
He noted that in April 2025, MTN introduced measures that increased customer value by 15% at no additional cost, underscoring the company’s dedication to affordability, enhanced service quality, and a seamless user experience.
Mr. Blewett emphasized that these initiatives form part of MTN’s broader effort to ensure that customers benefit from innovative products and efficient mobile financial services, while strengthening trust and loyalty across its network.
Looking Ahead
With shareholder approval secured, MobileMoney Fintech Ltd will now focus on regulatory compliance, completing court processes, and achieving operational independence from Scancom PLC. The restructuring positions the company to drive innovation, expand financial inclusion, enhance customer trust, safeguard against fraud, and contribute to Ghana’s evolving digital economy.
Source: Isaac Kofi Dzokpo
