Dr. Ishmael Yamson: MoMo is the Engine of Growth, Innovation, and Financial Inclusion

The Board Chairman of Scancom PLC, Dr. Ishmael Yamson, has lauded MTN’s Mobile Money (MoMo) business as one of the most powerful engines driving Ghana’s digital transformation, financial inclusion, and corporate innovation. He made this assertion while addressing shareholders and beneficiaries during the Extraordinary General Meeting (EGM) of MobileMoney Fintech Ltd (MMF) held on Monday, December 1, 2025, at the University of Professional Studies Auditorium in Accra.

Speaking to both in-person and virtual participants, Dr. Yamson emphasized that the MoMo business has grown into a national asset, reshaping how individuals, businesses, and institutions conduct financial transactions. He stated that MoMo has become an indispensable pillar of MTN Ghana’s strategy, contributing significantly to revenue growth and economic empowerment across the country.

He explained that the ongoing restructuring of the MoMo business—including the merger between MobileMoney Fintech Ltd (MMF) and Mobile Money Limited (MML)—is a forward-looking move aimed at strengthening Ghanaian ownership and ensuring regulatory alignment. This restructuring, he noted, is also designed to create a more resilient organization capable of expanding its footprint in Ghana’s rapidly evolving digital financial services landscape.

According to Dr. Yamson, localizing the MoMo business is far more than a regulatory compliance exercise; it is a deliberate investment in the long-term prosperity of the company and its shareholders. “This restructuring is a critical step to secure the future of MoMo, the future of MTN, and, more importantly, the future of our shareholders,” he stressed.

He explained that the initiative aligns with the requirements of the Payment Systems and Services Act, 2019 (Act 987), which mandates at least 30% Ghanaian ownership for dedicated electronic money issuers. It also sets a clear path for the MoMo business to be listed on the Ghana Stock Exchange (GSE) within the next three to five years—a milestone he described as essential for strengthening transparency, improving governance, and deepening local participation.

In her remarks, the Chairperson of MMF, Madam Victoria Bright, echoed similar sentiments, assuring shareholders that their value and interests remain fully protected throughout the restructuring process. She highlighted that MMF has been carefully structured to provide strategic focus, improved governance mechanisms, and enhanced transparency needed to sustain long-term value creation.

Madam Bright further revealed that the MTN Ghana Fintech Trust (the Trust)—which holds the collective interest of all minority shareholders of Scancom PLC—is playing a central role during this transition. The Trust, she affirmed, ensures that shareholder rights are safeguarded until the MoMo business is fully listed. She added that following the future listing, shareholders will directly hold their stakes in both Scancom PLC and MMF and will continue to enjoy dividends from both entities.

She also clarified that while MobileMoney Fintech Ltd is newly incorporated, it is built on more than a decade of experience, innovation, and financial sector leadership driven by the pioneering work of Mobile Money Limited (MML). This foundation, she said, positions MMF to lead Ghana’s fintech future.

Shareholders and beneficiaries at the meeting overwhelmingly approved the MMF–MML merger, giving Scancom PLC the mandate to proceed with the next steps of the restructuring. Completion of the merger is expected to follow final regulatory approvals, including authorization from the Bank of Ghana.

Dr. Yamson concluded with an assurance that the ongoing transformation will elevate MoMo’s role in national development, deepen financial inclusion, and create more value for millions of Ghanaians who rely on digital financial services daily.