MTN Ghana has formally separated its Mobile Money operations in Ghana from its core telecommunications business, creating Mobile Money Fintech Ltd. (MMFL) as a standalone growth unit.

The transition, which took effect on March 31, 2026, positions MMFL to focus exclusively on digital financial services for millions of Ghanaians.

The restructuring is in compliance with the Bank of Ghana’s Payment Systems and Services Act, 2019 (Act 987), enabling the unit to raise capital, expand services, and attract external investors.

This move reflects the evolving importance of mobile money as a core revenue driver, with growth potential highlighted by a potential Mastercard investment valuing the unit at $5.2 billion.

The law mandates that telecommunications firms offering electronic money services operate them through separate companies aimed at strengthening regulation, governance, and consumer protection in the country’s fast-growing fintech sector.

Addressing the media on the development in Kumasi, Nana Addai, Head of Mobile Money Fintech Ltd. for the Northern Business District, said that the transition would not disrupt existing Mobile Money services.

He explained that the upgrade would not affect how customers access their accounts.

"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,” he stated.

According to him, the establishment of MMFL positions the company to be more responsive to evolving customer needs by accelerating innovation and introducing more tailored financial solutions.

He noted that operating as an independent fintech company would enable MMFL to expand its agent network, develop new digital financial products and provide enhanced services to individuals, small and medium-sized enterprises (SMEs) and corporate institutions.

Mr. Addai added that the new structure would also improve operational efficiency, strengthen customer protection and enhance regulatory oversight by clearly separating financial technology services from MTN Ghana’s telecommunications business.

The Head of Mobile Money Fintech Ltd. for the Northern Business District also used the platform to caution Ghanaians against fraud and scams targeting Mobile Money users.

According to Nana Addai, fraudulent activities remain one of the most pressing challenges confronting the industry. He said scammers continue to devise new tactics to defraud unsuspecting customers, often through fake calls, phishing messages, and impersonation of agents.

“Protecting our customers is a top priority for us,” Mr. Addai stated. “We are investing heavily in system security, monitoring, and customer education to sanitize the Mobile Money ecosystem.”

He disclosed that the company has intensified public awareness campaigns across the Northern Business District to educate users on how to identify and avoid fraud. 

Mr. Addai added that MMFL is also working closely with the Ghana Police Service, the Cyber Security Authority, and other relevant stakeholders to track, report, and prosecute perpetrators.

He urged customers to be vigilant, never share their PINs or OTPs with anyone, and to report suspicious transactions to the official MoMo customer care lines or the nearest authorized agent immediately.

Ghana is one of MTN’s largest mobile money markets. The business generated $549.15 million in revenue in 2025, while group fintech transaction volume rose nearly 40% to $500.3 billion. MTN reported 69.5 million active fintech users across its markets.

MobileMoney Fintech Ltd is jointly owned by MTN Dutch Holdings and the MTN Ghana Fintech Trust, which represents minority shareholders. The restructuring does not affect MTN Ghana’s telecom operations or shareholding structure.

The establishment of MMFL is also expected to position both the telecommunications business and the fintech company for sustainable long-term growth, allowing each entity to focus on its core operations while delivering greater value to customers.

The Fintech Ltd is therefore expected to play a leading role in expanding access to secure, reliable and innovative financial technology solutions across the country.

The transition reinforces MTN’s commitment to building a modern, secure and inclusive digital financial ecosystem capable of meeting the evolving financial needs of Ghanaians and supporting the country’s digital transformation agenda.

MTN said similar separation processes are ongoing in Nigeria and Uganda, as part of a broader strategy to scale its fintech operations.