Mobile Money FinTech Secures Green Light for Merger, Sets Path to GSE Listing
The restructuring will shift the mobile money business into a newly registered Ghanaian entity, Mobile Money FinTech Limited, which will assume operational control once the merger takes effect.
Mobile Money FinTech (MMF) Limited has received full shareholder backing for two key resolutions at its 2025 Extraordinary General Meeting (EGM), held on December 1 at the UPSA Auditorium. The gathering brought together shareholders and eligible beneficiaries, and included an interactive session where executives addressed questions about the company’s future.
Participants unanimously endorsed both the waiver and Fairness Report, along with the proposed merger detailed in the Merger Agreement. The approvals advance MMF’s ongoing restructuring of its mobile money operations.
Following the meeting, Victoria Bright, a director for both MMF and Mobile Money Limited, said the resolutions move the company into a pivotal phase. The restructuring will shift the mobile money business into a newly registered Ghanaian entity, Mobile Money FinTech Limited, which will assume operational control once the merger takes effect.
She indicated that the company is preparing for long-term expansion, with a plan to list the new Mobile Money FinTech Limited on the Ghana Stock Exchange within the next three to five years. The timing of the listing will depend on market conditions and internal readiness.
Before going public, the entity aims to complete a comprehensive digital transformation, attain full operational independence from SCANCOM PLC, and reinforce its governance and leadership systems.
Bright also offered clarity on the “mirroring” structure being used for shareholder transition. The system ensures that investors’ holdings in SCANCOM PLC will be replicated exactly in the new MMF entity, with shares eventually separating once both companies begin trading independently on the stock exchange.
Mobile Money Limited CEO, Shaibu Haruna, described the EGM outcome as a major step toward fulfilling regulatory requirements for the localisation of mobile money operations. He emphasised that the restructuring is largely administrative and will not affect the customer experience. The MTN MoMo brand will remain unchanged, and services will continue as usual.
Haruna added that the new structure will strengthen innovation, improve governance, and position the company to deliver enhanced services while aligning with regulatory expectations.
