MTN Group announced the completion of the statutory merger of its Ghanaian mobile money subsidiary, MobileMoney Ltd, into a newly constituted entity named MobileMoney Fintech Ltd, with the transaction taking legal effect on 31 March 2026 following the receipt of all requisite regulatory approvals. The restructuring separates the mobile money business into a standalone fintech company and satisfies a structural requirement imposed by Ghanaian legislation on companies operating as electronic money issuers in the country.
Ghana's Payment Systems and Services Act mandates that electronic money issuers operating in the country maintain a minimum of 30% Ghanaian ownership in their corporate structure. The creation of MobileMoney Fintech Ltd as a distinct legal entity provides the framework within which that local ownership requirement can be met, allowing the business to continue its operations within the regulatory parameters established by the Bank of Ghana for digital financial services providers. For MTN Group, completing the separation is a prerequisite for the long-term licensing and operational security of one of its most strategically important mobile money businesses on the African continent.
REGULATORY ARCHITECTURE BEHIND THE RESTRUCTURING
The statutory merger route chosen for the transaction — merging the existing MobileMoney Ltd into the newly created MobileMoney Fintech Ltd structure — reflects the legal mechanism available under Ghanaian corporate law for combining entities and transferring assets, liabilities, regulatory permissions and contractual relationships in a single regulated step sanctioned by the relevant authorities. The completion of that process on 31 March marks the formal legal establishment of the standalone fintech entity and brings to a close a restructuring process that MTN Group has been working through since Ghana enacted the Payment Systems and Services Act and regulators began enforcing its ownership provisions.
MTN MoMo is one of the most widely used financial services in Ghana, serving a large proportion of the population including significant numbers of people who lack access to traditional bank accounts. The platform provides mobile payment, person-to-person transfer, merchant payment, savings and lending capabilities that have become embedded in the daily financial lives of millions of Ghanaians. The separation into a distinct, domestically structured entity with capacity for Ghanaian ownership is therefore significant for both the regulatory standing of the service and for Ghana's broader financial inclusion objectives.
MOMO REVENUE GROWTH REFLECTS DEEPENING PLATFORM PENETRATION
MTN MoMo Ghana generated revenue of GH¢6 billion in 2025, a 35.7% increase from GH¢4.4 billion recorded in 2024, according to MTN Group figures. The growth trajectory reflects deepening penetration of the Ghanaian market and the continued expansion of use cases on the platform beyond basic transfers into merchant payments, utility bill settlement and financial services including savings and credit products. The revenue base provides MobileMoney Fintech Ltd with a substantial commercial foundation as it begins its existence as a separately structured and governed fintech entity.
The completion of the separation positions MobileMoney Fintech Ltd for the next phase of development, combining the structural clarity and regulatory standing of an independent entity with the technology, brand and operational support of MTN Group's broader African fintech ambitions. For MTN Group, the Ghanaian MoMo business is part of a wider strategy of creating separately capitalised and governed fintech entities across its African markets, a model designed to attract local and institutional investment partners and to demonstrate the standalone commercial value of its mobile money operations.