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MTN Ghana to Restructure Mobile Money Business, Create New FinTech Company
MTN Ghana, operated by Scancom PLC, has announced plans to restructure its mobile money subsidiary, MobileMoney Limited (MML), in a move to align with Ghana’s Payment Systems and Services Act of 2019.
The new arrangement will see MML merged into a newly formed company, known as New FinCo, which will operate as an independent financial entity with a path toward public listing.
Details of the restructuring were disclosed in a shareholder circular issued on May 2, 2025, through the Ghana Stock Exchange.
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The plan is a strategic response to regulatory requirements that mandate electronic money issuers to ensure at least 30 per cent Ghanaian ownership. Although Scancom PLC achieved that threshold through its September 2024 listing, MML itself remains wholly owned by the parent company.
Under the new plan, all assets, liabilities, and staff of MML will be transferred to New FinCo, which will be fully incorporated in Ghana. A trust structure has also been introduced to hold a 32.13 per cent stake in New FinCo on behalf of minority shareholders.
This is intended to preserve shareholder interests and maintain compliance with local ownership rules. Once New FinCo is listed on the Ghana Stock Exchange—an event expected to take place within three to five years—ownership will be transferred directly to shareholders.
The company has assured investors that the restructuring will be tax neutral, with implementation costs distributed among Scancom PLC, New FinCo, and MTN Group. An extraordinary general meeting will be held on May 21, 2025, at the Accra International Conference Centre to brief shareholders on the process. Participation will also be available virtually.
While the meeting is not expected to involve a formal vote, it is seen as a crucial opportunity for shareholders to understand the legal, financial, and strategic implications of the planned changes.
MTN Ghana’s leadership emphasised that the restructuring reinforces its commitment to regulatory compliance, transparency, and long-term growth in Ghana’s digital finance sector.
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