MoMo Restructuring Paves Way for Future Ghana Stock Exchange Listing – MMF Board Reveals
MobileMoney Fintech Ltd (MMF) has reaffirmed its commitment to safeguarding shareholder value and strengthening the future of Ghana’s digital financial services industry through a comprehensive restructuring exercise that will ultimately lead to the listing of the MoMo business on the Ghana Stock Exchange (GSE).
This assurance was given during the Extraordinary General Meeting (EGM) held in a hybrid format—both virtual and in-person—on Monday, December 1, 2025, at the University of Professional Studies Auditorium in Accra. The session brought together shareholders, beneficiaries of the MTN Ghana Fintech Trust, board members, and industry stakeholders seeking clarity on the future of the MoMo business.
Addressing participants, the Chairperson of MMF, Madam Victoria Bright, outlined that the ongoing restructuring—anchored on a merger between MobileMoney Fintech Ltd and Mobile Money Limited (MML)—is a deliberate strategy aimed at protecting shareholder interest while creating a stronger and more focused entity prepared for long-term growth.
She explained that the restructuring process aligns with Ghana’s Payment Systems and Services Act, 2019 (Act 987), which requires all dedicated electronic money issuers to have at least 30% Ghanaian ownership. This regulatory requirement, she noted, forms part of a broader national agenda aimed at deepening local participation in the financial technology sector.
Madam Bright emphasized that although MMF is newly established, it inherits more than a decade of innovation, expansion, and industry leadership from MML. She added that the new corporate structure will enable clearer governance, improved operational focus, and enhanced transparency—critical factors that position the business for future listing on the GSE.
She further highlighted that MMF currently has two shareholders: MTN Dutch Holdings B.V., representing MTN Group’s interest, and the MTN Ghana Fintech Trust (the Trust), which holds the collective interest of all minority shareholders of Scancom PLC. According to her, the Trust was set up specifically to protect the rights and value of minority shareholders during the transition period until the MoMo business is officially listed.
“With the Trust in place, beneficiaries are assured of transparent representation, safeguarded rights, and continued value retention as the restructuring progresses,” she affirmed. Madam Bright also disclosed that after the future listing, minority shareholders will hold shares directly in both Scancom PLC and MMF, and will continue to receive dividends from each entity independently. Until that point, the Trust will vote on their behalf, guided strictly by their instructions.
Adding his voice, Dr. Ishmael Yamson, Board Chairman of Scancom PLC, described the MoMo business as one of the company’s most significant pillars of growth and innovation. He stated that the restructuring represents an important step in strengthening Ghana’s fintech ecosystem and ensuring that the gains achieved over the years remain sustainable and accessible to shareholders.
Dr. Yamson highlighted that listing the MoMo business on the Ghana Stock Exchange within the next three to five years is a clear strategic priority aimed at boosting transparency, increasing local ownership, and driving long-term value creation. He stressed that the business has evolved into a critical financial inclusion tool for millions of Ghanaians, making its localization and future public listing essential milestones.
The meeting also witnessed an overwhelming vote of approval from beneficiaries and shareholders in support of the MMF–MML merger. Madam Bright announced that Scancom PLC will now proceed with the next stages of the process, including meeting all regulatory requirements and securing final approvals from authorities such as the Bank of Ghana.
She concluded by assuring stakeholders that the restructuring will not disrupt operations but will instead strengthen governance, improve market competitiveness, and prepare the MoMo business for its next transformational leap—a historic listing on the Ghana Stock Exchange.
