MTN Ghana has completed the separation of its Mobile Money operations from its telecommunications business, creating a standalone fintech company as it seeks to expand digital financial services in the country.

The new entity, Mobile Money Fintech Ltd. (MMFL), began operations on 31 March, following regulatory requirements under Ghana’s Payment Systems and Services Act, 2019 (Act 987), which mandates telecom operators offering electronic money services to operate through separate entities.

The restructuring is aimed at allowing the fintech unit to operate independently, attract investment, develop new products and strengthen governance and consumer protection measures.

MTN Ghana’s mobile money platform remains one of the country’s most widely used digital payment services, with millions of customers relying on it for transfers, bill payments, savings and other financial transactions.

Speaking to the media in Kumasi, Nana Addai, Head of Mobile Money Fintech Ltd. for the Northern Business District, said the transition would not affect customers or existing accounts.

“Customers would continue to use their current MoMo wallets, PINs, transaction channels and agent network without any changes. There is no need for customers to re-register or take any action,” he said.

He added that customers’ funds, transaction records and security settings would remain protected under the new structure.

The creation of MMFL is expected to give the company greater flexibility to expand its agent network, introduce new digital financial products and provide tailored services to individuals, small businesses and corporate clients.

The move comes amid growing investor interest in Africa’s fintech sector, with potential investment from Mastercard reportedly valuing MTN’s fintech operations at about $5.2 billion.

MTN Ghana said the separation does not affect its telecommunications operations or ownership structure, but allows both the telecom and fintech businesses to focus on their respective areas of growth.

The company has also warned customers about increasing mobile money fraud, including fake calls, phishing messages and impersonation of agents.

Mr Addai urged users not to share their mobile money PINs or one-time passwords with anyone and to report suspicious activities through official customer service channels.

“Protecting our customers is a top priority for us. We are investing heavily in system security, monitoring and customer education to sanitise the Mobile Money ecosystem,” he said.

He said MMFL was working with the Ghana Police Service, the Cyber Security Authority and other stakeholders to track and prosecute fraudsters.

MTN said Ghana remains one of its largest mobile money markets, with the business generating $549.15 million in revenue in 2025. Across MTN’s markets, fintech transaction volumes reached $500.3 billion, with 69.5 million active fintech users recorded.

Mobile Money Fintech Ltd. is jointly owned by MTN Dutch Holdings and the MTN Ghana Fintech Trust, which represents minority shareholders.

MTN said similar separation processes are underway in Nigeria and Uganda as part of efforts to scale its fintech operations across Africa.

The company expects the new structure to strengthen Ghana’s digital finance ecosystem by improving access to secure and innovative financial services.