Ghana: MTN Completes Ghana Mobile Money Spinoff to Scale Fintech Unit

MTN Group has completed the separation of its mobile money business in Ghana, as it moves to position fintech as a standalone growth unit. The company said its Ghana subsidiary, Scancom PLC, merged MobileMoney Ltd with a new entity, MobileMoney Fintech Ltd, effective March 31 after regulatory approvals. The new entity will house all mobile money operations in the country.

MobileMoney Fintech Ltd is jointly owned by MTN Dutch Holdings and the MTN Ghana Fintech Trust, which represents minority…