In a move to align with Ghana's financial regulations, Scancom PLC, the operators of MTN Ghana have announced plans to restructure its mobile money subsidiary, MobileMoney LTD (MML). 

The proposed changes, outlined in a shareholder circular published by the Ghana Stock Exchange today, May 2, 2025, will see the creation of a New FinCo, a separate entity that will eventually list on the Ghana Stock Exchange within three to five years.

The restructuring comes as a direct response to Ghana's Payment Systems and Services Act of 2019, which requires electronic money issuers to maintain at least 30 per cent local ownership. 

Currently, MML operates as a wholly-owned subsidiary of Scancom PLC, which itself achieved 30 per cent Ghanaian ownership through public trading on the GSE in September 2024.  

Under the new structure, MML will merge into New FinCo, transferring all assets, liabilities, and employees to the newly incorporated Ghanaian company. 

A trust mechanism will hold approximately 32.13 per cent of New FinCo on behalf of minority shareholders, ensuring compliance while maintaining their economic interests in the mobile money business. This arrangement will remain in place until New FinCo's anticipated listing on the GSE, at which point shareholders will receive direct ownership stakes. 

The company stressed that the transition will be tax-neutral for shareholders, with costs shared between Scancom PLC, New FinCo, and MTN Group.  

The circular invited shareholders to attend an Extraordinary General Meeting on May 21, 2025, at the Accra International Conference Centre, with virtual participation available. While the meeting is informational only and requires no shareholder vote, it represents an important opportunity for investors to understand the implications of the restructuring.