MTN Ghana splits Mobile Money, forms new financial tech company
MTN Ghana has separated its mobile money business. It created a new company called MobileMoney Fintech LTD. This change meets Ghana's Payment Systems Act and positions MTN to expand its financial technology services across the country. The original MTN Ghana company still offers telecom services.
MTN Ghana has formally separated its mobile money services. The company announced the creation of MobileMoney Fintech LTD (MMFL) as a distinct entity. This change became active on March 31, 2026.
This move helps MTN follow the Payment Systems and Services Act, 2019 (Act 987). This law requires mobile money operations to be localized. The separation also allows MTN to grow its financial technology (fintech) ambitions in Ghana.
MobileMoney Ltd, the old mobile money operator, merged with the new MMFL. This merger followed the Companies Act, 2019 (Act 992). No new shares were issued by MTN Ghana during this process.
MTN Ghana's core telecom business continues as before. Its ownership structure remains the same. The new company, MMFL, will now run all mobile money services.
MTN Ghana CEO Stephen Blewett said this step will help strengthen Ghana's digital systems. MMFL CEO Shaibu Haruna added that the goal is to make financial services available to more people and businesses in Ghana.
This separation helps both companies focus better on their main goals. It ensures they follow all rules and aim to create more value for their shareholders in the long run.
Source: StatsGH — Ghana's data-driven news platform