MobileMoney Fintech Ltd (MMF) Chairperson, Madam Victoria Bright, says the ongoing restructuring of the Mobile Money (MoMo) business seeks to safeguard shareholder value and position the company for future listing on the Ghana Stock Exchange (GSE).
Speaking at an Extraordinary General Meeting (EGM) held on December 1, 2025 at the University of Professional Studies Auditorium in Accra, she said the restructuring also responds to provisions of the Payment Systems and Services Act, 2019 (Act 987), which requires a minimum of 30 percent Ghanaian ownership in dedicated electronic money issuers.
Madam Bright noted that although MMF is a new entity, it will operate an existing business developed through Mobile Money Limited (MML), which she said had been built on “over a decade of innovation and impact.”
She indicated that MMF currently has two shareholders – MTN Dutch Holdings B.V. representing MTN Group, and the MTN Ghana Fintech Trust, which holds the interests of minority shareholders of Scancom PLC.
According to her, this arrangement is intended to preserve shareholder rights and value until the MoMo business is listed on the GSE.
She told shareholders that the structure is expected to provide appropriate governance and focus for the business. Shareholding of Scancom PLC, she said, would be mirrored in MMF.
Madam Bright added that following the future listing, beneficiaries “would hold their shares directly and separately in each of Scancom PLC and MMF and would continue to receive dividends from both companies.” Until then, she said voting rights on behalf of beneficiaries in the MoMo business will be exercised through the Trust.
Scancom PLC Board Chair, Dr. Ishmael Yamson, also addressed the meeting, describing MoMo as “one of the strongest engines of growth, innovation and financial inclusion in our company and in Ghana.” He said, “Localising it properly, thoughtfully and transparently is an investment in its future and in your future as shareholders.”
Dr. Yamson added that the structure provides a “clear path and time frame” for listing, projected within the next three to five years.
Madam Bright later announced that beneficiaries and shareholders had approved the merger of MMF and MML. She said the final process will now begin, subject to regulatory clearance. “Completion is subject to final regulatory approvals, including approval from the Bank of Ghana,” she stated.
Source: kumasimail.com
