MTN Ghana completes Mobile Money business spinoff to scale fintech unit

MTN Ghana formally separated its Mobile Money operations from its core telecommunications business, creating Mobile Money Fintech Ltd. (MMFL) as a standalone growth unit. This transition took effect on March 31, 2026, and positions MMFL to focus exclusively on digital financial services for millions of Ghanaians. The restructuring complies with the Bank of Ghana's Payment Systems and Services Act, 2019 (Act 987), which requires telecommunications companies offering electronic money services to operate them through separate entities.

Nana Addai, Head of Mobile Money Fintech Ltd. for the Northern Business District, addressed the media in Kumasi, stating that the transition would not disrupt existing Mobile Money services. He explained that customers would continue to access their accounts without any changes, specifically noting, "Customers would continue to use their current MoMo wallets, PINs, transaction channels and agent network without any changes. There is no need for customers to re-register or take any action. Their funds, transaction history and security settings remain fully protected." The move is expected to enable MMFL to raise capital, expand its services, and attract external investors, with a potential Mastercard investment valuing the unit at $5.2 billion.