The Chairperson of MobileMoney Fintech LTD (MMF), Madam Victoria Bright, has assured shareholders that the ongoing restructuring of the Mobile Money (MoMo) business is aimed at protecting the value of their investments, while setting the stage for future growth and an eventual listing on the Ghana Stock Exchange (GSE). The restructuring is also aimed at addressing the requirement under Ghana’s Payment Systems and Services Act, 2019 (Act 987), for a minimum of 30 percent Ghanaian ownership for all dedicated electronic money issuers.
Addressing shareholders and beneficiaries at the Extraordinary General Meeting (EGM) held virtually and in person on Monday, December 1, 2025 at the University of Professional Studies Auditorium, Accra, she explained that although MMF is a newly incorporated company, the business it will operate is not new as it is built on over a decade of innovation and impact through Mobile Money Limited (MML).
She stated that MMF has two shareholders: MTN Dutch Holdings B.V. (representing the MTN Group interest) and the MTN Ghana Fintech Trust (the Trust), which holds the interests of all minority shareholders of Scancom PLC and preserves their rights, value, and ensures transparent representation until the MoMo business is listed on the GSE. MMF would thus provide the MoMo business the appropriate structure, focus, and enhanced governance that serves shareholders and beneficiaries better while creating long-term value for all stakeholders.
With respect to shares and dividends, she explained that the shareholding of Scancom PLC would be mirrored in MMF. Madam Bright stressed that after 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, the voting rights of the beneficiaries in the MoMo business would be exercised through the Trust on their behalf, with the Trust voting as instructed by the beneficiaries.
Dr. Ishmael Yamson, the Board Chairman of Scancom PLC, took his turn to address the attendees of the EGM and stated that “the MoMo business remains one of the strongest engines of growth, innovation and financial inclusion in our company and in Ghana. Localising it properly, thoughtfully and transparently is an investment in its future and in your future as shareholders.” He noted further that this structure would provide a clear path and time frame for the future listing of the MoMo business, which is expected within the next three to five years.
Following the overwhelming approval of the beneficiaries and shareholders of MMF in favour of the merger of MMF and MML, Madam Bright informed attendees at the EGM that Scancom PLC will commence the necessary processes to bring finality to the merger. She noted that completion is subject to final regulatory approvals, including approval from the Bank of Ghana.
