Mobile Money FinTech (MMF) Limited announced plans to move to the Ghana Stock Exchange within the next three to five years as part of steps to enhance its structure and position the company for long-term growth.
The company made the announcement after securing shareholder approval to proceed with a merger aimed at meeting regulatory localisation requirements for the mobile money business. The approval was given at the 2025 Extraordinary General Meeting held in Accra.
The merger meant Mobile Money Limited would be absorbed into MMF, making MMF the surviving entity after the restructuring.
Merger approval
Chief Executive Officer of Mobile Money Limited, Shaibu Haruna, said the decision marked a key milestone in the restructuring process.
“This was a very important milestone in our journey. What this process meant was that our shareholders had accepted for Mobile Money FinTech Limited to merge with Mobile Money, making FinTech the surviving entity,” he said.
He noted that the change was mainly structural and would not disrupt customer experience.
Mr Haruna added that the merger would enhance innovation, improve governance and support stronger service delivery while aligning with regulatory expectations.
“It was a mere structural change. The name MoMo from MTN remained the same, and our customers would continue to enjoy the great services we provide,” he said.
New entity
The Director of both MMF and Mobile Money Limited, Victoria Bright, explained that the mobile money business would now sit under a newly incorporated Ghanaian entity.
“So what we were doing now was a restructuring of our mobile money business. Essentially, we were moving the mobile money business into a new entity, which would be called Mobile Money FinTech Ltd. It was a Ghanaian incorporated company, and it would now run the mobile money business after the merger,” she said.
She said the restructuring was also part of a long-term plan to build a stronger and more independent operation.
According to her, several internal conditions had to be met before the listing could take place, including completing the company’s digital transformation and achieving full operational independence from SCANCOM PLC.
“That is what we are doing now. Three to five years from now, we see the business being as robust as possible. We are planning on listing the shares of Mobile Money FinTech Ltd within that stipulated period,” she said.
Conditions for listing
Mrs Bright said the company was also working to strengthen its governance and leadership systems as it prepared for future growth.
“We only listed when we felt that the market conditions were right. So that three-to-five-year limit was not set in stone,” she said.bu
She further explained how shareholder interests would be handled after the merger. “Your interest would be mirrored in the new MMF entity. So if you had 10 Ghana shares, then you had 10 Ghana shares in the new entity. And at the time of listing, those shares would actually be allocated to the individuals separately,” she said.
She added that once both SCANCOM PLC and MMF were listed, each company’s shares would trade independently with their own market-driven pricing.