MobileMoney Ltd and MobileMoney Fintech Ltd Merge to Enhance Financial Services in Ghana
Shareholders Approve Merger for Enhanced Governance
MobileMoney Ltd (MML), the mobile financial services branch of MTN Ghana, has received unanimous approval from its shareholders to merge with MobileMoney Fintech Ltd (MMF). This strategic move aligns with the Bank of Ghana’s regulations mandating at least 30% local ownership, aiming to improve governance and operational autonomy.
Key Resolutions Approved at Extraordinary General Meeting
The Extraordinary General Meeting (EGM) witnessed the endorsement of two significant resolutions: one waiving the equity ratio and another approving the merger outlined in the Merger Agreement. Once finalized on December 31, 2025, all assets, liabilities, and employees of MML will be transferred to MobileMoney Fintech Ltd, marking a pivotal phase in the company’s restructuring.
Commitment to Customers and Digital Transformation
CEO’s Assurance on Service Continuity
Shaibu Haruna, CEO of MobileMoney Fintech Ltd, reassured both shareholders and customers that the restructuring will not interrupt ongoing services. He emphasized that the MoMo brand will remain intact, allowing customers to continue enjoying reliable financial services while the company drives its digital transformation agenda forward.
Focus on Security and Fraud Prevention
Haruna also highlighted MobileMoney Fintech Ltd’s proactive measures against mobile money fraud to safeguard both customers and the company’s integrity. This commitment is crucial in building trust in the digital financial ecosystem.
Strengthening Governance for Future Growth
Board Chairman Highlights Historical Approval
Dr. Ishmael Yamson, Chairman of the Board, characterized the shareholder approval as a landmark development promoting enhanced governance and setting the stage for sustained growth. “MobileMoney Fintech Ltd is positioned as the new operational engine for our mobile money initiatives, adhering to global best practices and Kenyan regulatory standards,” he expressed.
Plans for Independent Listing on Ghana Stock Exchange
The Chairperson of MobileMoney Fintech Limited, Madam Victoria Bright, elaborated on plans for an independent listing. The MTN Ghana Fintech Trust will hold a 30% stake on behalf of minority shareholders, ensuring their economic interests are adequately represented. Existing shares of Scancom PLC will transition smoothly to the new entity, paving the way for a potential listing on the Ghana Stock Exchange within three to five years.
Commitment to Delivering Value and Innovation
MTN Ghana CEO’s Vision for the Future
Stephen Blewett, CEO of MTN Ghana, affirmed the company’s unwavering dedication to providing greater value to customers and shareholders as part of its comprehensive digital transformation strategy. In April 2025, MTN implemented measures that increased customer value by 15% without any added costs, demonstrating a clear commitment to affordability and service excellence.
Next Steps for MobileMoney Fintech Ltd
With shareholder approval, MobileMoney Fintech Ltd is now poised to concentrate on regulatory compliance and achieving operational independence from Scancom PLC. This transition will enable the company to spearhead innovation, broaden financial inclusion, reinforce customer trust, enhance fraud protection, and contribute significantly to the growth of Ghana’s digital economy.