Accra, Ghana—MobileMoney Ltd and MobileMoney Fintech are currently merging into a single entity, MobileMoney Fintech Ltd, to create a dedicated structure aimed at driving growth, enhancing accountability, and ensuring the long-term sustainability of the MoMo business within the MTN Group.
The merger was formally approved by shareholders and beneficiaries during MTN’s Emergency General Meeting through a resolution that passed with overwhelming support, securing over 90% approval across all voting classes.
Dr. Ishmael Yamson, Board Chair of MTN Ghana, announced that the new merged entity will operate under the name MobileMoney Fintech Ltd. He added the new structure is designed to safeguard the value of investments for all stakeholders. Three directors have already been appointed to oversee the company’s incorporation and early operational activities.
Shaibu Haruna, CEO of MobileMoney Ltd, highlighted that with shareholder approval secured, the company is now poised to seek a “no objection” clearance from the Bank of Ghana and obtain court approvals. These regulatory steps are crucial to ensure full compliance before the merger is finalized.
Victoria Bright, Director of both MobileMoney Ltd and MobileMoney Fintech Ltd, revealed ambitious plans for the merged company, including an intention to list MobileMoney Fintech Ltd on the Ghana Stock Exchange within the next three to five years, further expanding its market presence and investment opportunities.
The merger marks a significant milestone in the evolution of mobile financial services in Ghana, promising enhanced service delivery and innovation for MTN’s extensive customer base.
