MTN Ghana is taking swift action to restructure its mobile money business, MobileMoney Ltd (MML), to meet the Bank of Ghana’s regulatory requirement of having a minimum of 30% Ghanaian ownership.
With a deadline of June 13, 2025, looming, MTN Ghana is working to avoid severe regulatory sanctions, including potential shutdown.
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Restructuring Plan
To comply with the regulation, MTN Ghana will dissolve MML and transfer its assets, operations, and staff to a new local entity, New FinCo. A trust will hold 32.13% of New FinCo’s stake on behalf of Ghanaian minority shareholders, while the MTN Group will retain 67.87%. This move is expected to ensure the future of MTN’s mobile money business in Ghana.
Future Plans
MTN Ghana also plans to list New FinCo on the Ghana Stock Exchange within the next three to five years, allowing minority shareholders to directly trade in the new entity. This strategic realignment is seen as a necessary step to safeguard the company’s mobile money business and comply with regulatory requirements.
Compliance and Growth
By meeting the regulatory deadline, MTN Ghana aims to maintain its position in the mobile money market while also promoting local ownership and participation. The company’s efforts to restructure its business demonstrate its commitment to operating within Ghana’s financial regulations and supporting the country’s economic growth.
