MTN Group has announced a major restructuring of its fintech operations in Ghana through the merger of MobileMoney Limited (MML) and MMF Limited (MMF LTD).
The merger represents a strategic milestone in the company’s ongoing efforts to align with Ghana’s regulatory requirements and enhance local participation in the financial technology sector.
According to a notice issued pursuant to section 243(4)(b) of the Companies Act, 2019 (Act 992), the reorganisation involves the statutory merger of MML — the current vehicle for MTN’s fintech business — and MMF LTD, a newly incorporated company created to continue MTN’s fintech operations in Ghana.
Following the merger, MMF LTD will remain as the surviving entity and will assume full responsibility for operating the fintech business across the country.
The merger is part of MTN Group’s broader strategy to comply with Ghana’s Payment Systems and Services Act, 2019 (Act 987). This law mandates that any company engaged in mobile money operations must have at least 30% local equity participation in order to qualify for a licence as a dedicated electronic money issuer.
By merging MML with MMF LTD, MTN seeks to meet this critical localisation requirement, ensuring that Ghanaians hold a significant stake in one of the most dynamic segments of the digital economy. The move is not only a legal compliance measure but also a step toward deepening local ownership, fostering transparency, and strengthening MTN’s relationship with the Ghanaian market and regulators.
Industry analysts view this decision as an important signal of MTN’s commitment to long-term sustainability and inclusive economic growth in Ghana. It reflects the group’s strategic realignment to adapt to evolving financial regulations while maintaining leadership in the mobile money ecosystem.
Details of the Merger Agreement
The terms governing the merger have been laid out in a Merger Agreement dated October 31, 2025, signed between MML and MMF LTD. The agreement also contains a comprehensive merger proposal outlining the framework and transition process. Together, these documents form what has been referred to as the “Merger Agreement.”
In line with legal provisions, MTN has made copies of the Merger Agreement available for inspection at the registered offices of both MML and MMF LTD during normal business hours — between 8:00 a.m. and 4:00 p.m., Mondays through Fridays — until December 1, 2025.
Furthermore, shareholders, creditors, and other interested parties are entitled to request a free copy of the Merger Agreement from either company. This measure underscores MTN’s dedication to transparency and due process in carrying out the reorganisation.
MTN’s Commitment to Fintech Growth and Innovation
Over the years, MTN Ghana’s fintech arm, particularly through MML, has been instrumental in advancing financial inclusion across the country. The company has successfully transformed how millions of Ghanaians access and use financial services through its flagship Mobile Money (MoMo) platform.
The MoMo service has become a critical pillar of Ghana’s cashless economy, facilitating transactions, remittances, savings, and payments across multiple sectors. The merger with MMF LTD is expected to strengthen operational efficiency, improve corporate governance, and enhance MTN’s capacity to innovate within the financial services space.
This reorganisation also aligns with MTN Group’s Ambition 2025 strategy, which seeks to position the company as a leading provider of digital and fintech solutions across Africa. The merger ensures that Ghana’s fintech arm remains agile, well-structured, and capable of meeting both local and international standards.
Compliance with Ghana’s Payment Systems and Services Act (Act 987) has been a focal point for fintech operators, particularly as the Bank of Ghana continues to strengthen regulatory oversight of the sector. MTN’s proactive approach demonstrates its readiness to collaborate with regulators and stakeholders to uphold market integrity.
The localisation requirement embedded in Act 987 is designed to ensure that Ghanaian investors and citizens share in the wealth and value created by fintech companies operating within the country. MTN’s merger of MML and MMF LTD thus signals a broader commitment to inclusive economic participation and equitable growth in the financial technology landscape.
Stakeholders believe this merger could serve as a model for other multinational fintech operators seeking to navigate Ghana’s evolving regulatory framework while maintaining operational excellence.
A New Chapter for MTN Fintech Ghana
With the merger now underway, MTN Group is set to begin a new chapter in its fintech journey in Ghana. The establishment of MMF LTD as the surviving entity reinforces the company’s focus on operational continuity, regulatory alignment, and sustainable growth.
This strategic consolidation will not only help MTN maintain its dominant position in Ghana’s mobile money market but also open opportunities for partnerships, local investment, and innovation.
As fintech continues to reshape the financial services landscape, MTN’s latest move stands as a landmark step toward a more inclusive, locally empowered, and future-ready fintech ecosystem in Ghana.
The merger between MML and MMF LTD marks a defining moment in Ghana’s fintech evolution. Beyond meeting regulatory requirements, MTN Group’s decision embodies a forward-looking vision that balances compliance, innovation, and local participation.
As MMF LTD takes the helm of MTN’s fintech operations in Ghana, the merger is poised to strengthen the company’s foundations for long-term growth while reaffirming its leadership in the digital financial space.
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