MTN Ghana is undertaking a significant restructuring of its mobile money business, MobileMoney Limited, a move that has understandably sparked questions among its shareholders. On May 21, 2025, at an Extraordinary General Meeting, Board Chairman Ishmael Yamson addressed these concerns directly, offering clarity and reassurance about the strategic shift. The core message: This restructuring, primarily driven by compliance with Ghana’s Payment Systems and Services Act of 2019, is fundamentally designed to safeguard and enhance shareholder value while paving the way for future growth of MTN MobileMoney Restructuring.

The need for restructuring stems directly from regulatory requirements. According to Yamson, “The company had to make the move in compliance with Ghana’s Payment Systems and Services Act of 2019.” This act necessitates operational separation of mobile money services from traditional telecom services, a common global trend aimed at increasing oversight and consumer protection. The MTN MobileMoney Restructuring ensures that the company adheres to the regulatory landscape, but what exactly does this entail?

The key change involves transferring MobileMoney Limited into a new Ghanaian company. This entity, provisionally referred to as New FinCo, will house all the mobile money operations and assets. Once the transition is complete, MobileMoney Limited, as it currently exists, will cease to operate as a separate entity. To protect the interests of minority shareholders during this transition, a trust will be established to hold shares in New FinCo on their behalf.

Shareholder Value and the Path Forward

Yamson was emphatic in his assurances to shareholders, stating unequivocally that they would not experience any loss of value or income as a result of this restructuring. He emphasized that shareholders will retain their Scancom PLC shares and, crucially, maintain a valid interest in the New FinCo through the aforementioned trust. This mechanism ensures that shareholders continue to receive dividends and retain their voting rights through the trust, aligning their interests with the performance of the mobile money business.

“You will still own your Scancom PLC shares…You will not lose any value,” Yamson stated, directly addressing the primary concern among investors. The involvement of the Ghana Stock Exchange adds another layer of security, ensuring the legal protection of shareholder investments throughout the restructuring process. Furthermore, the restructuring is structured to be tax-neutral, with costs strategically shared among MTN Group, Scancom PLC, and the mobile money business itself.

Looking ahead, Yamson expressed a strong belief that this restructuring would ultimately benefit both the business and its shareholders. By creating New FinCo, the mobile money operation will be liberated to pursue faster growth, compete more effectively, and attract the specialized talent necessary to thrive in an increasingly digital financial landscape. This strategic separation, he argues, is not just about compliance, but about unlocking the full potential of the mobile money business.

Future Growth Potential

“This change is good for the future of our business and your investment,” Yamson explained. “It will liberate MML to grow faster, compete better, and attract the right skills to thrive in a digital future.” By focusing specifically on the needs of the mobile money business, New FinCo can adapt more quickly to changing market conditions and customer demands.

The MTN MobileMoney Restructuring represents a significant step for MTN Ghana, aimed at navigating regulatory requirements while simultaneously positioning the mobile money business for continued success. Chairman Yamson’s direct address to shareholders sought to alleviate concerns and underscore the long-term benefits of this strategic move. With a focus on protecting shareholder value and fostering growth, the restructured MobileMoney Limited is poised to capitalize on the opportunities of the digital future.