Victoria Bright: MoMo Overhaul Safeguards Shareholder Value and Strengthens Local Ownership

The Chairperson of MobileMoney Fintech Ltd (MMF), Madam Victoria Bright, has given strong assurances to shareholders that the ongoing restructuring of MTN’s Mobile Money (MoMo) business is strategically designed to protect the value of their investments while aligning the company for sustained growth and an eventual listing on the Ghana Stock Exchange (GSE).

Addressing shareholders at the Extraordinary General Meeting (EGM) held both virtually and in person on Monday, December 1, 2025, at the University of Professional Studies Auditorium in Accra, Madam Bright emphasized that the restructuring is not only a value-preserving exercise but also a key step toward deepening Ghanaian ownership in the country’s digital financial services industry.

She explained that the move is in full compliance with Ghana’s Payment Systems and Services Act, 2019 (Act 987), which requires at least 30% Ghanaian ownership for all dedicated electronic money issuers. According to her, the new structure will ensure that MTN’s MoMo business remains fully aligned with national regulatory standards while positioning the company to deliver stronger governance, transparency, and long-term sustainability.

Madam Bright noted that although MobileMoney Fintech Ltd is newly incorporated, it is grounded in more than a decade of innovation, service expansion, and financial inclusion delivered by Mobile Money Limited (MML). She further explained that MMF currently has two shareholders: MTN Dutch Holdings B.V., representing MTN Group’s stake, and the MTN Ghana Fintech Trust (the Trust), which stands in for all minority shareholders of Scancom PLC.

She stressed that the Trust has been established to protect the rights and value of minority shareholders until the company secures its GSE listing. “The Trust provides a transparent representation structure that ensures every shareholder’s interest is safeguarded even before the listing takes place,” she assured. Madam Bright added that MMF has been carefully designed to offer the right structure, strategic focus, and enhanced governance framework needed to drive future value for all stakeholders.

On the matter of shares and dividends, the MMF Chairperson revealed that the shareholding structure of Scancom PLC will be replicated in MMF after the future listing. Minority shareholders will then hold their shares directly in both Scancom PLC and the newly listed MMF, enabling them to receive dividends independently from each entity. Until that milestone is reached, the Trust will exercise voting rights in the MoMo business on behalf of shareholders, strictly based on their instructions.

The Board Chairman of Scancom PLC, Dr. Ishmael Yamson, who also addressed the gathering, described the MoMo business as one of the most powerful engines of MTN Ghana’s growth, innovation, and financial inclusion drive. He stated that localizing the business is not merely a regulatory requirement but a critical investment in the future of the company and its shareholders. Dr. Yamson further disclosed that the new structure outlines a clear roadmap for the MoMo business to be listed on the Ghana Stock Exchange within the next three to five years.

Following the overwhelming approval by beneficiaries and shareholders in favour of the merger between MobileMoney Fintech Ltd and Mobile Money Limited, Madam Bright announced that Scancom PLC would now commence the processes necessary to finalize the merger. She noted that the completion of the restructuring will be subject to final regulatory approvals, including authorization from the Bank of Ghana.

Madam Bright concluded by reaffirming MMF’s commitment to ensuring transparency, safeguarding shareholder value, and building a stronger, more locally grounded digital financial services ecosystem that continues to empower millions of Ghanaians.